Development/Redevelopment

Chicago -- GoldMax USA said it has opened a store in Rancho Santa Margarita, Calif., marking the chain’s 50th store in the state. It operates more than 200 stores nationwide.

GoldMax said it has plans to open eight more California stores within the next 30 to 60 days in City of Industry, El Cajon, Los Angeles, Murrieta, Norco, Orange, Rancho Cucamonga, San Juan Capistrano, and Upland.
 

NEW YORK — Victoria’s Secret returned to Manhattan in a big way this week with the reopening of a flagship store in Herald Square that was expanded to 8,000-sq.-ft.

The opening comes just in time to allow Victoria’s secret to capitalize on holiday sales in New York as local demand tends to be complemented by an influx of foreign tourists. On hand for the reopening of the newly expanded and now largest flagship store in the world were Victoria's Secret Angels Adriana Lima, Miranda Kerr, Candice Swanepoel and Lily Aldridge.

Jackson, Miss. -- WS Development announced that Whole Foods Market broke ground in early November on a new 31,000-sq.-ft. store at Highland Village in Jackson, Miss., marking the grocer’s debut in the state.

The new store will open in 2013, joining about 50 shops and restaurants at the 220,000-sq.-ft. mixed-use center, such as Mason Weiss, Talbots, Whitehead Street Clothiers, and Albriton's Jewelers.

Corpus Christi, Texas -- IMI and Trademark Property Group announced that its La Palmera mall in Corpus Christi, Texas, will be joined by a 6,5000-sq.-ft. Longhorn Steakhouse in 2013, along with Papaya, which opened 6,350-sq.-ft. store, and Flip Flop Shops. Pandora will open a 1,703-sq.-ft. store before the holidays.

La Palmera is a 1-million-sq.-ft. super-regional mall featuring Dillard’s, J.C. Penney, Macy’s, P.F. Chang’s and Coach.

Los Angeles -- Urban Partners and Harbor Urban announced that David Walker has joined the company as VP capital markets.

Walker will be responsible for actively procuring debt and equity capital for both entities. The firm is currently focused on urban infill assets in West Coast markets and, together with AREA Property Partners, recently acquired Seattle-based Harbor Properties and merged it with Urban Partner’s local office to form Harbor Urban.

Dayton, Ohio -- Brixmor Property Group said that Five Below will open a 8,095-sq.-ft. store at South Towne Center, located in Dayton, Ohio.

Brixmor, based in New York City, is the owner of South Towne Center.

Chicago -- Englewood Construction has announced that the firm’s Retail Group recently completed work on the nation’s first Spanx store, and also completed the first American Girl store in the Florida market.

At Tyson’s Corner Center in McLean, Va., just outside of Washington D.C., Spanx opened its first retail location in the U.S.

New York -- Average asking rents on Lower Fifth Avenue in Manhattan rose 13% since the spring of 2012 to $1,021 per square foot (psf) and are up 51% since the same period in 2011, according to The Real Estate Board of New York (REBNY’s) Fall 2012 Retail Report. The study revealed continued signs of improvement in the Manhattan retail market, with high demand and limited availability, which significantly drove up asking rents especially in the most prominent shopping corridors