Development/Redevelopment

Macy’s plans to build a major direct-to-consumer fulfillment center near Owasso in Tulsa County, Okla., to support continued sales growth driven by Macy’s omnichannel strategy.

The site is strategically located near the intersection of 76th St. North and Lakewood Ave., about 12 miles north of Tulsa. The company is expected to invest more than $170 million in the facility.
 

East Rutherford, N.J. -- In partnership with travel retailer Hudson Group, leading lingerie and beauty retailer Victoria's Secret has opened a new Beauty & Accessories store in John F. Kennedy International Airport's Terminal 4. The new store will focus on a range of beauty products and accessories.

Tucson, Ariz. — Floor & Décor has signed a long-term lease for a 58,205-sq.-ft. space at ABC Retail Center in Tucson, Ariz. It will be the specialty retailer’s first location in Tucson.

CBRE represented Floor & Décor in the transaction. The landlord, ABC Broadway/Kolb Center LLC of Tucson represented itself.

Norwalk, Conn. -- GE Capital, Corporate Retail Finance said it is administrative agent on a $250 million senior revolving credit facility for regional sporting goods retailer Dunham’s Athleisure Corp.

The proceeds will support ongoing working capital needs and new store growth.

Algonquin, Ill. — Fuddruckers has opened a 6,600-sq.-ft. fast casual restaurant in the Algonquin Commons lifestyle center in Algonquin, Ill., a northwest suburb of Chicago. The new restaurant replaces a Cheeseburger in Paradise, according to Luby’s, Inc., the parent company of both brands and the owner of the site.

The Algonquin Commons restaurant will showcase Fuddruckers’ new interior scheme, which pays homage to the chains roadhouse look, while refreshing the look to cater to today’s more sophisticated tastes.

New York -- Swiss watchmaker Bovet 1822 will open a New York City flagship, just its fourth boutique in the world.

The 50 Central Park South store in the heart of midtown Manhattan is in the base of the Ritz-Carlton Hotel. The classic yet modern space incorporates walnut furniture lined with suede.

Paris -- French retailing giant Carrefour has joined an investment group aiming to acquire more than a 100 shopping malls in France, Spain, and Italy.

According to a New York Times report, the $2.7 billion deal will add 127 malls to Carrefour’s current 45-mall portfolio. The plan is to create a new, separate property company in which Carrefour would hold a 42% stake. Institutional investors would hold the rest.

Houston – Growth in the Houston retail estate market is expected to follow strong residential real estate growth in 2014. According to a report from NewQuest Properties delivered at the recent BoyarMiller Real Estate Forum, there are about 15 new shopping centers planned or under way in Houston.

In addition, the Houston retail sector is struggling to keep up with growth in the city and experiencing very low vacancy and default rates