Development/Redevelopment

New York -- DSW Inc. is opening new stores in Watertown, New York, and Louisville, Kentucky, on Oct. 2. The Watertown store will be located in the Salmon Run Mall and the Louisville store will be located across from St. Matthew’s Mall.

DSW offers other features including the DSW Rewards loyalty program and the Shoe Lovers community on Facebook.

San Diego -- Rubio’s Restaurants will redesign 60 of its restaurants in Southern California, with completion expected by the end of 2015. With more updates scheduled for 2016, the new and improved locations are slated to be a visual reflection of the fast-casual brand’s evolution and culinary progression.

Seattle -- REI will open a nearly 30,000-sq.-ft., two-level store in the Village at Westfield Topanga, Woodland Hills, California, in fall 2015.

"REI Topanga will join five other stores in serving more than 352,000 active REI members in the greater Los Angeles area. More than 62,000 active members reside within 15 miles of the new store.

Indianapolis - Hhgregg has redeveloped a store in Columbus, Ohio, with a new store format. Developed by real estate company Casto, the store opened Sept. 18, and employs 26 associates.

“Working with Casto to update the Sawmill location allows us to best serve our loyal Columbus-area customers,” said Dennis May, Hhgregg CEO. “Our best-in-class products and expert sales associates make this and our five other Columbus-area stores a destination for a superior appliance, furniture and electronics shopping experience.”

Dublin, Calif. - Ross Dress for Less will open two new stores in the California Central Valley on Oct. 11. The stores are located in Bakersfield Plaza in Bakersfield and the Delano Marketplace in Delano.  

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year. 

Dublin, Calif. – DD’s Discounts, a division of Ross Stores Inc. will open its first store in Oklahoma, on Sept. 27. The store is located in the Windsor Hills Center in Oklahoma City.  

Including this new location, DD’s Discounts will operate more than 150 locations in 15 states and is on schedule to complete its expansion plan to open approximately 20 locations in 2014.

Virginia Beach, Va. – The Investment Sales Group of Divaris Real Estate Inc. has brokered the sale of Shippensburg Marketplace in Shippensburg, Pennsylvania for $12 million. Divaris represented the seller, ACL Realty Corp., in the transaction; American Realty Capital Properties, Inc. was the purchaser.

Shippensburg Marketplace is a 56,875-sq.-ft., Giant-anchored shopping center. The property was developed in 2002 and was 94% occupied at the time of the sale.

Northbrook, Ill. - Pine Tree Commercial Realty LLC has acquired Riverbend Marketplace, a regional shopping center located in Asheville, North Carolina, in partnership with Wanxiang America Real Estate Group. The 142,617-sq.-ft. shopping center is shadow-anchored by Walmart, anchored by Kohl’s and Petsmart, and features 110,715-sq.-ft. of national best-in-class retailers.

Fort Worth, Texas - Rice Management Company and Trademark Property Company have acquired a three-building, 193,000-sq.-ft. retail property portfolio in Rice Village, today collectively named the Village Arcade. Trademark and Rice plan to completely revitalize the properties by significantly upgrading the merchandising mix, facades and site amenities and considering a rebranding.

Simon has long been known as one of the pre-eminent players in retail real estate and shopping center management and development. But with the formation of a new venture capital division, Simon Venture Group, and partnership with Plug and Play, a global investor and technology accelerator that specializes in growing tech startups, Simon is looking to take a leading role in retail IT, as well.