Development/Redevelopment

Sears Canada closes sales and leaseback of three stores
Toronto - Sears Canada Inc. has closed a transaction to sell and leaseback three properties to Concord Pacific Group of Companies. The transaction, originally announced on March 11, 2015, has closed for total proceeds of $140 million.
Macy’s adds Backstage locations
The first of Macy’s new off price Backstage stores aren’t due to open until this fall, but already the retailer is adding more locations for an off price format heralded as a key growth initiative.

The nation’s largest department store retailer created a stir earlier this year when it disclosed plans to open its first four Backstage stores in the greater New York area. The two additional locations are also in close proximity to New York. The stores are about 30,000-sq.-ft. and are staffed by 30 to 45 employees.

Charming Charlie, New York City

Jewelry and accessories retailer Charming Charlie has opened its largest store yet, a three-level, 16,000-sq.-ft. flagship on Manhattan’s Fifth Avenue. Designed in partnership with Callison Architects, Seattle, the store features a two-story, 30-foot tall glass façade and 20-ft. tall double doors in the brand's signature vibrant pink lacquer.
Macy’s adds two more store locations for launch of Macy’s Backstage

Cincinnati -- Macy’s on Monday announced two more pilot store locations in metro New York City for its new off-price format, Macy’s Backstage. The additional stores brings to six the total number of Macy’s Backstage for launch. All are expected to open in fall 2015 and average about 30,000 sq. ft.

The added locations are at Fordham Place in The Bronx, and Essex Green Shopping Center, West Orange, New Jersey, where an existing Macy’s store will be converted to Macy’s Backstage.
Crate & Barrel to close Manhattan flagship

Crate & Barrel is joining Toys"R"Us and other retailers shutting down Manhattan flagship locations due to skyrocketing rent prices.
Online jewelry retailer Blue Nile opens its first brick-and-mortar store

New York -- Another online merchant has ventured into the physical space. Diamond and fine jewelry retailer Blue Nile has opened its first freestanding store, at Roosevelt Field Mall, Garden City, New York.
Bauer Hockey announces second retail location

EXETER, N.H. -- Bauer Hockey announced today that it will open its second retail store, in Bloomington, Minnesota. The Bloomington location is the second to be announced by Bauer Hockey, with the first-ever store expected to open in Burlington, Massachusetts, this summer.
Crate & Barrel to close Manhattan flagship store

New York -- Rising rents are causing another national chain to exit a high-profile location in Manhattan. Home-furnishings retailer Crate & Barrel will close its flagship on Madison Avenue (at 59th Street) on Aug. 2, after negotiating an early exit from its lease, according to the Wall Street Journal. The store opened in 1995.

The closing will leave the city with just one Crate & Barrel, in the Soho section of downtown Manhattan.
Macy’s Backstage signs lease at Fordham Place in the Bronx

Oak Brook, Ill. -- Retail Properties of America Inc. announced that Macy’s new off-price format, Macy’s Backstage, has signed a 35,200-sq.-ft. lease at Fordham Place in the Bronx, New York, as RPAI continues to execute on its remerchandising strategy of upgrading its tenancy and enhancing the dominance of its shopping centers.
Report: Walmart stores not welcome in New York City, says mayor

New York -- The mayor of New York City, Bill de Blasio, said Thursday that Walmart stores are not welcome in New York City, Newsday reported. His attitude is much different from his predecessor, Michael Bloomberg.

Click here for the story.

Sears Canada closes sales and leaseback of three stores

Macy’s adds Backstage locations

Charming Charlie, New York City

Macy’s adds two more store locations for launch of Macy’s Backstage

Crate & Barrel to close Manhattan flagship

Online jewelry retailer Blue Nile opens its first brick-and-mortar store

Bauer Hockey announces second retail location

Crate & Barrel to close Manhattan flagship store

Macy’s Backstage signs lease at Fordham Place in the Bronx

Report: Walmart stores not welcome in New York City, says mayor