Development/Redevelopment

A combined 7.1% same-store sales decline at Sear and Kmart stores in the fourth quarter has parent company Sears Holdings vowing to undertake a wide range expense reduction and cash generating moves, including more store closings and asset sales.

Tractor Supply Company continues its rapid expansion, with the grand opening of its 1,500th store, on Feb. 13, in Odessa, Texas.

The retailer opened a total of 114 stores in 2015, and expects to open between 115 and 120 locations in 2016. Tractor Supply stores are located primarily in towns outlying major metropolitan markets and in rural communities.
  

Pier 70, the extensive waterfront redevelopment project in San Francisco, has announced its first official tenant and it’s a big one.

Restoration Hardware will open a five-story, 60,000-sq.ft. gallery-store in the historic Bethlehem Steel building. The high-end home furnishings retailer, slated to open in 2017, will be a subtenant of Orton Development, which master-leased eight buildings along 20th Street that will comprise the core of Pier 70.

Yogasmoga, the made-in-America, Yoga-inspired athletic apparel retailer, is coming home.

The company, which is based in New York City, will open its first Big Apple location this spring. The store, in the NoHo section of downtown Manhattan, marks a continued commitment to expansion for the eco-conscious brand, which opened 10 stores in 2015.

New York -- Brixmor Property Group announced today that it has named Daniel Hurwitz, former CEO of DDR Corp. and the founder and CEO of Raider Hill Advisors as Interim CEO, effective immediately. Hurwitz will also be appointed to serve on the company's board of directors.

The company also announced that CEO Michael Carroll, president and CFO Michael Pappagallo, and chief accounting officer Steven Splain, along with an accounting employee, have resigned, effective immediately. Carroll has also stepped down from the company's board of directors.

Columbus, Ohio -- Casto announced that it has been selected by Edwards Communities Development Company to lease the retail component of The Highline at Nine, Edwards new mixed-use project located in Columbus, Ohio.

The retail development is scheduled for completion in the summer of 2017. Located on the doorstep of The Ohio State University’s South Campus and the northern edge of the Short North Arts District, The Highline at Nine will include approximately 22,000 sq. ft. of prime retail and restaurant space along with 480 student housing beds.

In the face of an increasingly complex retail real estate investment environment, and a world where constantly evolving technology enables us to be connected 24/7 with both current and potential partners, as well as have access to real-time market and property data and analytics at our fingertips, retailers and commercial real estate professionals are being increasingly challenged to be more nimble, flexible and connected than ever before — and to find new ways to maximize efficiency and productivity in the non-stop deal-making environment.

Fabletics, the athleisure brand co-founded by actress Kate Hudson in 2013, continues to expand in the physical space.   The e-commerce retailer, which opened its first brick-and-mortar outpost in 2015, plans to open 12 stores in 2017, giving it a total of 30 locations throughout the continental United States in just 23 months.