Development/Redevelopment

Hazelwood, Mo. -- St. Louis Mills, Missouri’s largest outlet and value retail shopping and entertainment destination, will add a 35,000-sq.-ft. Ross Dress for Less, joining recently opened Toy Heaven, Broadway Suits and Wholesale Mattress Center and More.
 
The new Ross store will be located near Sears Outlet and across from Levi’s Outlet.
 

Youngstown, Ohio -- Cafaro Co. has announced it is actively seeking to expand its portfolio of enclosed malls.

According to the company, each potential acquisition property must demonstrate historic, stabilized net operating income and minimum sales of $300 per sq. ft. Cafaro said is interested in malls with a minimum gross leasable area of 600,000 sq. ft. in trade areas of 200,000 – 450,000 residents.
 
Cafaro currently owns and oversees more than 30 million sq. ft. of commercial real estate in 11 states.
 

There was quite a bit of excitement heading into this year’s RECon convention. The event is, in many respects, the annual event for retail real estate professionals from around the country (and more recently from around the world). It seemed to have a little bit more industry buzz going for it than in recent years. I think the combination of some encouraging economic indicators and the feeling that the industry is on the cusp of what may be a more sustainable long-term recovery had everyone’s optimism in high gear.

PHILADELPHIA — Plans for a new distribution center near Philadelphia will allow Dollar General to more effectively replenish its rapidly expanding store base.

Hanover, Md. -- Simon Property Group said that Maryland Live! Casino has opened at its Arundel Mills outlet, value retail, dining and entertainment destination in Hanover, Md.

The new $500 million gaming and entertainment destination was developed by Baltimore-based real estate developers and casino operators, The Cordish Cos.

Dallas -- SRS Real Estate Partners announced the promotions of two team members. Tom Power and Todd Wallace both have been promoted to executive VP.

Power has more than 13 years at SRS and is a managing partner for SRS Real Estate Partners – Northwest, LLC. He also serves as market leader for SRS' Northern California markets: San Francisco, San Jose and East Bay.

Columbus, Ohio -- Easton Town Center co-developers Steiner + Associates and The Georgetown Co. announced Monday that they will be adding more than 50,000 sq. ft. of new tenants this year and renovating more than 150,000 sq. ft. of existing space.

New York -- Macy’s Herald Square has extended its shopping hours to make it easier for shoppers while the flagship undergoes its extensive, four-year renovation.

Starting Monday, the store opens at 9 a.m., instead of 10 a.m., Monday through Friday. The Saturday and Sunday schedule remains the same, 10 a.m. to 9:30 p.m. and 10 a.m. to 8:30 p.m., respectively.