Development/Redevelopment

Jackson, Miss. – Newk’s Eatery is entering the San Antonio, Texas area as part of a broader expansion plan that includes 30 new franchise and corporate stores in 2015. The fast-casual dining chain has signed a franchise agreement with Stephen Kuehler, who will lead the chain's expansion into the San Antonio area.

Las Vegas -- The Las Vegas Strip has a brand new retail attraction: Grand Bazaar Shops. The two-acre, open-air center is located adjacent to Bally’s Las Vegas.

New York -- Retailers making headlines with store expansion plans for 2015 include a mix of global players as well as some familiar national brands. Here’s an update:

• Famed British toy retailer Hamleys is coming across the pond. The 225-year old company is looking at a multiple store roll-out throughout the United States. Hamleys, which has 49 stores across 17 countries in Europe, Asia and the Middle East, is most famous for its seven-story location on Regent Street in London.


Seattle -- Nordstrom will open a full-line store in the new regional shopping center being developed by General Growth Properties in Norwalk, Connecticut.  

The three-level, 150,000-sq.-ft. store is scheduled to open in fall 2018 and will be the company's second full-line store in the state. The company opened its first Nordstrom in Connecticut in 1997 near Hartford at Westfarms Mall in Farmington.

Fort Worth, Texas – Video game retailer GameStop Corp. has reportedly bid on the leases of 163 stores that bankrupt consumer electronic chain RadioShack Corp. is abandoning as of March 1. According to Reuters, GameStop’s total bid equaled about $2.44 million, or $15,000 per lease.

Houston -- Simon is further elevating its signature Houston Galleria by investing in a $30 million renovation of the luxury wing in addition to adding a new Saks Fifth Avenue flagship, 110,000 sq. ft. of new retail space, and a 14,000-sq.-ft. freestanding retail building.

Who needs Family Dollar? After a failed bid to acquire its smaller rival, Dollar General is on the move and extending its presence to three new states.

Ross Stores is less than two months into its new fiscal year and already the company is halfway home on its 2015 new store growth plan and asserting its long term potential.

Ross confirmed that since the beginning of its fiscal year on Feb. 1, it opened 32 Ross Dress for Less stores and five dd’s Discounts stores in 15 states.

The company’s full year plan disclosed when fourth quarter results were released on Feb. 26, calls for 70 Ross stores and 20 dd’s Discounts stores.

Beachwood, Ohio -- DDR has named a new financial chief, and the shopping center company reached from within its own ranks for the appointment. Luke J. Petherbridge, age 35, assumes the role of CFO effective immediately.
 
"Luke is an accomplished executive with a proven track record within our company, overseeing the balance sheet, fostering strong banking and capital partner relationships, and sourcing large scale transactions during his tenure with us," said David Oakes, president and CEO.

Australian specialty tea retailer T2 has made its U.S. debut, opening a store in the heart of Manhattan's Soho neighborhood. The shop stocks over 200 teas from around the globe along with an extensive assortment of teapots, cups, sifters and other related items.