Development/Redevelopment

DDR exits joint venture in Buffalo
Beachwood, Ohio -- DDR Corp. announced the sale of an 11-property portfolio--located primarily in the Buffalo MSA that was previously held in joint venture with Kuwaiti Financial Centre II--for a total of $154 million. The portfolio was comprised of small-format traditional grocery-anchored centers and single tenant non-prime assets.
Retail vacancy rate in central New Jersey at six-year low
Old Bridge, N.J. -- An improved picture in both ‘big-box’ and smaller store spaces combined to push the retail vacancy rate along central New Jersey’s major shopping corridors to a six-year low of 7.6% from 9.8% in 2013, according to the latest study by R.J. Brunelli & Co. Looking back over the past 10 years, the 2014 figure compared with the high of 10.5% in 2011 and low of 3.4% in 2006.

Fayette Mall expansion officially opens

Lexington, Ky. --CBL & Associates Properties announced the opening of the expansion at Fayette Mall in Lexington, Ky. Designed to significantly enhance the offerings at the shopping center, the redevelopment of the former Sears location included expanding the mall entrance to create 115,000 sq. ft. of new retail space for a mix of fashion stores, home furnishings and fine dining options in the heart of the shopping center.
Coal Vines to open at CityLine mixed-use development

Richardson, Texas -- Commercial real estate firm KDC announced that Coal Vines will join CityLine, the company’s 186-acre mixed-use project in Richardson, Texas. The restaurant is scheduled to open in summer 2015. “The Coal Vines concept is ideal for CityLine and brings an element of fun to State Street and the entertainment district,” said KDC’s Colin Fitzgibbons.
Global Franchise Group names Andrew Kmiec as VP of Real Estate

Atlanta -- Global Franchise Group, the brand management company and franchisor behind Great American Cookies, Pretzelmaker, Marble Slab Creamery, MaggieMoo’s Ice Cream & Treatery and Hot Dog on a Stick, has hired Andrew Kmiec as VP of Real Estate. Kmiec will be responsible for directing GFG’s real estate team in the areas of strategic site selection, lease negotiation and store design for franchisees and corporate owned locations.
Venture Commercial completes sale of two Burlington Coat Factory buildings

Dallas -- X Team International announced that partner Venture Commercial Real Estate completed the sale of two properties in Richardson, Texas and Waco, Texas, representing more than 150,000 sq. ft. of retail space.
Intersection of Opposites: An inspired approach to shopping center design

By Ahsin Rasheed
Starbucks’ redesigned Seattle outpost

Seattle -- Starbucks’ new outpost in the Fremont section of Seattle fits right in with the artsy neighborhood. The company moved from a smaller store in the area to a spacious two-level corner site, complete with a mezzanine.
Sears plans to convert its property in Aventura, Fla., to mixed-use development

Aventura, Fla. -- In another move to capitalize on its extensive real estate portfolio, Sears Holdings Corp. has submitted plans to the City of Aventura in Florida for the redevelopment of the Sears property at Aventura Mall into an open-air village that will feature retail, restaurants, offices and a hotel.
Store of the Week: Murad, Los Angeles, Calif.

El Segundo, Calif. -- Skincare brand Murad has opened its first stand-alone retail store, on West 3rd Street in Los Angeles.
Columbia Sportswear opens store dedicated to performance fishing gear

Alpharetta, Ga. -- Columbia Sportswear Company opened its first-ever store dedicated to its performance fishing gear (PFG) at the Avalon Mall in Alpharetta, Ga. Columbia’s PFG collection is inspired by the performance, style and comfort needs of professional and recreational anglers of all ages. The 3,176-sq.-ft. store has a clean design, boutique feel and digital integration that includes an interactive knot-tying station.
Tanger Outlets at Foxwoods To Open on May 21, 2015

Mashantucket, Conn. -- Foxwoods Resort Casino announced that the grand opening of the new Tanger Outlets at Foxwoods will be held on May 21, 2015.

DDR exits joint venture in Buffalo

Retail vacancy rate in central New Jersey at six-year low

Fayette Mall expansion officially opens

Coal Vines to open at CityLine mixed-use development

Global Franchise Group names Andrew Kmiec as VP of Real Estate

Venture Commercial completes sale of two Burlington Coat Factory buildings

Intersection of Opposites: An inspired approach to shopping center design

Starbucks’ redesigned Seattle outpost

Sears plans to convert its property in Aventura, Fla., to mixed-use development

Store of the Week: Murad, Los Angeles, Calif.

Columbia Sportswear opens store dedicated to performance fishing gear

Tanger Outlets at Foxwoods To Open on May 21, 2015