Real Estate

I recently attended Chain Store Age’s 49th annual Store Planning, Equipment, Construction and Facilities Services Seminars (SPECS) in Dallas, Texas. While SPECS always gives me plenty to think about, this year was especially interesting thanks to the debut of a new segment on Real Estate Development. In addition to other workshop “tracks” like Facilities, Business Strategies, and Planning & Design, the inclusion of Real Estate Development to the mix really brought new (and important) perspectives.

Denver -- Brixmor Property Group said that Walmart Neighborhood Market will open a 55,669-sq.-ft. store at Villa Monaco, located in Denver.

The addition of this market will revitalize the shopping center, said Brixmor, attracting new retailers, restaurants and services to the center, and providing the community residents a convenient place to shop within their own neighborhood.  

Knoxville, Tenn. -- CHM said that its Northshore Town Center mixed-use property will add First Tennessee Bank and ORNL Federal Credit Union to its tenant roster.

The two financial institutions will join fast-casual pizza restaurant Uncle Maddio’s, scheduled to open its first Tennessee location at Northshore Town Center later this spring.

New York -- Following unanimous approval in March by the New York City Council for the redevelopment of Pier 17, The Howard Hughes Corp. said it has named RKF as the exclusive consultant and leasing agent for the South Street Seaport.

Washington, D.C. -- Combined Properties announced that Scott Kend has joined the company as senior director of development & acquisitions, charged with leading Combined's efforts to acquire new value-add retail shopping centers and mixed-use development projects on the West Coast.  

Kend will also be responsible for redeveloping portions of Combined's portfolio of retail centers in the Southern California region, as well as working on its mixed-use developments.  

Fredericksburg, Va. -- Youngstown, Ohio-based Cafaro Co. said that J. Jill will open a new store at Spotsylvania Towne Centre. The 3,700-sq.-ft. location is slated to open in July at The Village at Towne Centre, between Firebirds Wood Fired Grill and Cache.  

J. Jill will join The Buckle, opening April 25, and Chico’s, which is expected to open May 1.

Cleveland -- Forest City Enterprises said that, as its Short Pump Town Center celebrates 10 years in the Richmond, Va., market, it has launched a “Drawing Board” on Popularise, an online crowdsourcing and community engagement tool that focuses on real estate development.

New York -- Fairway Group Holdings Corp., operator of the Fairway Market grocery chain, said Wednesday that it raised $177.5 million in its initial public offering after pricing the shares above the marketed range.

Fairway sold 13.65 million shares for $13 each, according to data compiled by Bloomberg, after offering them for $10 to $12. At the offering price, the company has a market value of about $536 million.

The shares, which represent a 33% stake, will be listed on the Nasdaq Stock Market under the symbol FWM.