Development/Redevelopment

Napa, Calif. – Construction on a new 4,800-sq.-ft. retail space known as Solano Plaza could begin in Napa, California, as early as spring 2015. According to the Napa Valley Register, the single-story building will hold up to four new retailers and face an existing retail plaza.

The site was formerly occupied by a gas station and has been decontaminated. Gerry and Betsy D’Adamo, who have owned the parcel for 40 years, are developing the new plaza, which will include new landscaping and signage.
 

I indulged in a shopping center grand opening on May 22 – and I’m glad I did.

Themed “Indulge,” the opening event marked the official unveiling of the nation’s first truly downtown outlet center, Outlet Collection at Riverwalk, located in the heart of New Orleans, and built by West Coast developer Howard Hughes Corp.

Woodland Hills, Calif. — Peak Financial Partners, Inc., a private real estate investment firm and Misuma Holdings, have acquired a $45 million note secured by Myrtle Beach Mall, a 521,000-sq.-ft. enclosed mall facility in Myrtle Beach, South Carolina.

Baltimore — The Mall of Istanbul opened today in Istanbul, Turkey. The 34.5-acre mixed-use development features 2.1 million sq. ft. of retail space, 1.4 million sq. ft. of residential space and 322,600 sq. ft. of office space.

Baltimore-based DDG won the design contract for the mall in 2009 in an international competition.

Polaroid Fotobar has opened a flagship at The Linq, a new, pedestrian-friendly shopping street in the heart of the Las Vegas Strip. The two-level, 8,500-sq.-ft. space — part retail, part museum — celebrates the storied history of Polaroid while also tapping into consumers’ love of digital photos.

Strong demand in Hibbett Sports’ core footwear and brand-focused apparel business helped drive sales in the first quarter. The sporting goods retailer opened a record number of new stores and fully converted operations to its new wholesale and logistics facility, but it’s not done growing its footprint in fiscal 2015.

Severe weather may have taken a bite out of Shoe Carnival’s same-store sales, but the retailer still plans on opening 23 to 28 new stores in fiscal 2014, including 16 in the second quarter and seven to 12 in the fourth quarter.

The company reported a 3% year-over-year drop in net income to $9.2 million, from $9.5 million in the prior-year quarter. Net sales increased 1.5% to $235.8 million, from $232.3 million in the prior-year quarter. Same-store sales declined 1.7%

Corte Madera, Calif. – RH (Restoration Hardware Holdings) has opened RH Greenwich, The Gallery at the Historic Post Office, in Greenwich, Connecticut. After years of planning and preservation to honor its singular place in the town’s cultural landscape, the building’s exterior has been completely restored, while the interior has been reimagined and a second story conservatory and rooftop park has been added.

Miami — Executive chef and owner Cindy Hutson plans to open a new restaurant concept called Zest in the 30,000-sq.-ft. plaza of Miami’s 1.2-million-sq.-ft. Southeast Financial Center office building. It will be her second restaurant brand following the well-regarded Ortanique, which has locations in Miami, and the Cayman Islands.

Burlington, Mass. — KeyPoint Partners has added three new property management and leasing assignments to its portfolio. The firm will manage and lease Walnut Hill Plaza, a 298,000-sq.-ft. retail center in Woonsocket, R.I., and Summit Square, a 133,900-sq.-ft.-retail center in Warwick, R.I.

In addition, KeyPoint will manage the 97,000-sq.-ft. Harbor Village in Townsend, Mass.