Development/Redevelopment

Las Vegas -- As retailers and shopping center executives returned to their respective home bases following their biggest show of the year – RECon – they did so with talk of recovery echoing in their ears.

This year’s event – the International Council of Shopping Centers’ RECon convention, held May 20-23 in Las Vegas – was a platform for discussions about expansion and freer capital, albeit tempered by what industry experts are calling a new discipline in the way we all do business.

Warrendale, Pa. -- Rue21 reported Thursday that profit for the quarter ended April 28 rose 20.6% to $11.6 million, from $9.6 million in the same quarter last year.
   
Net sales increased 18.9% to $205.6 million, from $172.9 million. Same-store sales for the quarter edged up 1.7%.

Bob Fisch, president and CEO said the company is staying its small- and mid-market growth course.

Tucson, Ariz. -- Commercial Retail Advisors said that Tuesday Morning will be relocating a store to the neighborhood center Ventana Village.

The new, 10,000-sq.-ft. Tuesday Morning store is slated to open on Aug. 1.

Ventana Village is anchored by Bashas' Marketplace.
 

Las Vegas -- SkyVue, a 500-sq.-ft. observation wheel taking shape on the Las Vegas Strip, across from Mandalay Bay, has completed the first phase of construction, and has begun excavation on its retail and dining components.

Each side of the wheel will feature a 50,000-sq.-ft. LED screen (the largest in the world), that will host concerts, sporting events, product launches and more. The two-story shopping and dining experience will feature 140,000 sq. ft. of retail space, a 21,000-sq.-ft. convention facility and a food court.

Kansas City -- The area’s first White House Black | Market Outlet boutique opened on May 24 at Legends Outlets Kansas City.

The concept features not only collections designed specifically for the outlet boutique, but also an assortment from its full-price boutiques as well.

The White House Black Market Outlet boutique will occupy 2,955 sq. ft. next to Saks Fifth Avenue Off 5th.

I’m just back from the retail real estate industry’s annual confab, the International Council of Shopping Centers’ RECon, in Las Vegas. As part of the event, Faith Hope Consolo, chairman, Prudential Douglas Elliman, hosted a panel discussion of retailers at the Women’s Special Industry Group meeting. Here are some of the more notable quotes from the discussion:

Brenda Godfrey, VP global store development, Starbucks Coffee Co.

I’ve read a few thought-provoking articles recently about the state of the retail real estate marketplace that make the observation that A malls are generally doing better while B malls are continuing to tread water—or even beginning to fade away. Once again, I have to disagree on the B malls.

Indianapolis -- Simon Property Group, along with Calloway REIT and SmartCentres, have announced plans to develop their second Premium Outlet Center in Canada. 

The center will be located in the Town of Mirabel, Quebec, approximately 20 miles north of Montreal.  The project, called Montreal Premium Outlets, is a joint venture between Simon, Calloway and SmartCentres. Simon will own 50% of the project.