Real Estate

Von Maur got its start like many of its department store peers: An immigrant with an American dream opened a downtown store, customers came, they shopped, the brand took hold and took off.

In the case of the midwestern upscale department store banner Von Maur, the dreamer was German immigrant J.H.C. Petersen, who opened a downtown storefront in Davenport, Iowa, in 1872. He and his sons grew the business and sold it nearly a half-century later to a partnership that included two Austrian brothers -- C.J. and Cable von Maur, whose family gained full ownership by 1937.

As part of Von Maur's march beyond its core Heartland markets, in 2008 it opened a 130,000-sq.-ft. anchor store at the 1.1 million-sq.-ft. The Greene Town Center, located in Beavercreek, Ohio, and owned by MPI. That store has become the fashion heartbeat of a vibrant mixed-use destination that was originally built by MPI in 2006, expanded in 2008, and slated to expand again in 2014 with another 40,000 sq. ft. of retail.

Sometimes, to meet consumer demand you have to get creative. That’s what developer Centergy Retail, LLC, Dallas, did in the conceptualization of a hybrid power-lifestyle center in the heart of El Paso, Texas.

One of the few ground-up developments in the U.S., The Fountains at Farah will open October 2013 with 600,000 sq. ft. of best-in-class national junior anchor stores, fashion and name brand retailers, and upscale boutiques, restaurants and retail service uses.

Columbia, S.C. -- Golfsmith International is opening its first South Carolina store, in the state capital of Columbia, with a grand opening celebration on May 3 to May 5.
   
The 23,500-sq.-ft. store is part of Golfsmith's aggressive growth strategy in the Carolinas. Adding to its current Raleigh location, the company recently expanded with new stores in Charlotte and Greensboro — with another new store opening in Myrtle Beach later this spring.

MINNEAPOLIS — Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.

Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.

Memphis -- Specialty restaurant operator Perkins Restaurant & Bakery is launching a store remodeling initiative that will include more than 20 corporate locations in the first half of 2013 and then expand to franchise locations.

The remodel package, designed by Louis & Partners Design, will encompass external and internal changes. Perkins operates 416 restaurants in 34 states and Canada.

Jacksonville, Fla. -- American Restaurant Concepts is opening a new Dick’s Wings restaurant in Jacksonville, Fla. The restaurant will operate as a franchise with American Restaurant Corporation serving as franchisor and consulting partner.

Dick’s Wings has 15 full-service and two express restaurants in Florida and Georgia.

New York -- Uniqlo is taking a breather … but only a short one. The Japanese fashion retailer opened its seventh U.S. store — and its first in an outdoor lifestyle center location — on April 19, at Westchester’s Ridge Hill in Yonkers, N.Y. The two-level, 24,000-sq-ft. store comes on the heels of Uniqlo opening at Palisades Center in West Nyack, N.Y., in March. What’s next for the powerhouse brand that has made no secret of its intention to expand across the nation, with 200 stores by 2020?