Development/Redevelopment

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.

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.       

The nation’s two leading mattress specialty firms are one.

On Friday, Mattress Firm completed its $780 million acquisition of rival Sleepy’s. The combined company will have annual sales of over $3.6 billion through approximately 3,500 retail locations in 48 states.

Lululemon Athletica will open the first U.S. outpost of the brand’s design incubator “lab” format in downtown Manhattan, in March.

It’s only the second location for the unusual concept. The first, opened in 2009, is in the company’s hometown of Vancouver, British Columbia.

As we look at the white hot commercial real estate market, it’s clear that value-add and opportunistic investors are chasing deals in new asset classes and locations that are less than ideal. And it makes sense: they are return-driven, happy to take more risks to chase higher yields. But when the market inevitably comes down, they’ll have more to lose.

J.C. Penney is pursuing a possible sale and partial leaseback of its headquarters building in Plano, Texas, as part of an ongoing effort to reduce debt and manage expenses.

The company announced Friday that a combination of favorable market conditions and a surplus of available square footage within the building make this an attractive real estate opportunity.