Development/Redevelopment

Woonsocket, R.I. – CVS/pharmacy launched its entrance into the Seattle market with the grand opening of a new location in the city of Renton, the first CVS/pharmacy in the state of Washington. In addition to the new store in Renton, the company will open two more Seattle-area stores in 2014 and will open its first store in the city of Seattle next summer.

With its entrance into Seattle, CVS/pharmacy now has a presence in all 20 top drugstore markets in the U.S. The Renton store is one of the first tobacco-free CVS locations in the U.S.

Shanghai, China -- M&M’S celebrated the grand opening of its first M&M’S World store in Asia – M&M’s World Shanghai, a 17,000+-sq.-ft. entertainment destination that marks the brand’s fifth M&M’s World flagship store. Current flagships include Times Square, New York; Orlando; Las Vegas; and Leicester Square London.
 
Spanning two floors and combining iconic Chinese landmarks and cultural elements, the store features a large array of candies and M&M-branded merchandise.

Southlake, Texas -- Retail Properties of America, Inc. announced that Columbia Sportswear's Performance Fishing Gear concept store, plus several additional retailers including Altar'd State (5,162 sq. ft.), Elaine Turner (2,066 sq. ft.), ME SPA – which replaces Coldwater Creek Spa – and J.Jill, have recently opened, or will be opening, at Southlake Town Square in Southlake, Texas.
 
Columbia Sportswear's PFG store, the first of its kind in Texas, will measure 3,456 sq. ft. and is slated to open in late November 2014.

Houston -- Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced that construction has begun on its retail center in Tomball, Texas.

Charlotte, N.C. -- Aston Properties announced plans to develop Caldwell Crossing in Harrisburg, North Carolina, on the corner of Caldwell Road and Hwy. 49. 

Construction has begun on the 85,000-sq.-ft. center with an anticipated opening date in late fall 2015.

Caldwell Crossing will be anchored by a Harris Teeter grocery store and will include up to 26,000 sq. ft. of small shops. In addition to Harris Teeter and the shops, the center will include two outparcels.

New York -- The Mall at Bay Plaza, New York City’s first enclosed fashion mall in over 40 years, officially opens on Aug. 14.

Katy, Texas – Academy Ltd., parent company of the Academy Sports + Outdoors chain, will open a 1.6.-million-plus-sq.-ft. distribution center on a 200-plus-acre site in Cookeville, Tennessee to support its continued expansion. The retailer will begin construction on the facility later in August 2014 with plans to become operational in early 2016.

City of Commerce, Calif. – 99 Cents Only Stores is reopening six stores in California the weekend of Aug. 15 – Aug. 16. On Aug. 15, 99 Cents Only will kick off the grand re-opening celebration of its Concord, Poway and Sanger stores.

On Aug. 16, 99 Cents Only Stores will kick off the grand re-opening celebration of its San Bernardino, Escondido and Rohnert Park stores.

Miami Beach, Fla. -- Terranova Corp. and Acadia Realty Trust have reportedly agreed to sell six retail buildings on Lincoln Road in Miami for $342 million. According to the Miami Herald, the buildings were purchased for a combined $191 million in 2011 and 2012, marking a $151 million profit in a few years.

Tenants include Starbucks, Fossil, and A/X Armani Jeans. The deal is with an unnamed institutional investor and is not yet completed. It ranks as the most expensive retail real estate transaction in Miami history.

Yonkers, N.Y. -- Forest City Ratner Companies (FCRC), the developer and owner of the Westchester’s Ridge Hill shopping center, has announced some new tenants that will open at the regional center. They include 5 Napkin, a family-friendly bar and grill; Wine Zetta, a regional wine store; and Hand and Stone, a spa franchise.