Tenant Update

West Elm plans to open a 10,000-square-foot shop in one of the most up and comng urban centers in the South.

The store will open with West Elm’s fall 2015 product assortment, a suite of complimentary design services and feature crafted goods by nine local artists and makers as part of West Elm’s “Local” initiative. The new store is expected to bring an estimated 25-30 jobs to the Charleston community.

Oak Brook, Ill. – Retail Properties of America Inc. (RPAI) has named Heath R. Fear as its new CFO and treasurer, effective Aug. 17. Fear will play a key role in the continued execution of the company’s portfolio and balance sheet strategy, in addition to oversight of all of financial activities, including capital markets, accounting, investor relations, internal audit, internal reporting and treasury.

Toronto - Hudson’s Bay Company (HBC) is capitalizing on 42 real estate assets. The retailer has closed a joint venture with Simon Property Group focused on credit tenant, net-leased and multi-tenanted retail buildings in the U.S. and internationally.   

At a time when the future of the company is unclear, Belk Inc. is reportedly building another flagship store.

Rouse Properties Inc. announced it has signed a lease with Belk Inc. to open a new 237,000 square foot flagship store at The Shoppes at Bel Air in Mobile, Ala. Belk will be taking the place of an existing Sears, and expanding on its already integral presence at The Shoppes at Bel Air.

Charlotte, N.C. – Belk Inc. is expanding its presence in Alabama. The regional department store chain will open a new 237,000-sq.-ft. flagship store at The Shoppes at Bel Air in Mobile, Alabama.

Belk will be taking the place of an existing Sears, and expanding on its existing presence at The Shoppes at Bel Air. This activity is taking place following recent Reuters reports that private equity firm Sycamore Partners may be preparing to bid up to $3.5 billion for Belk.

Chattanooga, Tenn. - Ross Dress for Less and Ulta Beauty are coming to Randolph Mall in Asheboro, North Carolina. The two new stores will be situated in the former J.C. Penney location.  

Construction is expected to begin in October with the grand opening for both stores scheduled for 2016. Randolph Mall is a 400,000-sq.-ft. mall featuring more than 40 specialty stores and is anchored by Belk, Dunham’s Sports, and Sears.

Schaumburg, Ill. — Woodfield Mall, a Simon-owned and operated center with nearly 300 retail, dining and entertainment options, is adding new stores and updating its interior.

 New retailers added in 2015 include Flight 23 at Footaction, Fly Zone at Kids Foot Locker, rue21 and the first-in-state location for SIX:02.

The center also announced the future addition of ivivva athletica, coming this summer, as well as Zara and Timberland, both scheduled to open this fall.

New York -- One of the nation’s most well-known toy stores welcomed its last shoppers on Wednesday.

FAO Schwarz closed its store on Manhattan’s 5th Avenue, a victim of rising rents. Shoppers flooded the store in its final hours. For more, click here.