Real Estate

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.

Short Hills, N.J. -- Mulberry has opened a new store at Mall at Short Hills (N.J.), on the upper level near Bloomingdale’s, and will be followed by Robert Graham and Vilebrequin openings this summer.

Robert Graham will make its New Jersey debut this summer in its third freestanding U.S. boutique. And men’s swimwear retailer Vilebrequin makes its New Jersey debut this summer as well.

Newly opened stores recently added to this list include Ermenegildo Zegna, Miu Miu, Prada, Victorinox Swiss Army and
Vineyard Vines. 

National Amusements said it will open a six-screen Cinema de Lux at the Chestnut Hill Shopping Center in March 2013.

The new theater is designed to deliver a high-luxury experience with a full-service restaurant, premium reserved seating and at-your-seat dining.

“We’re looking forward to bringing an unparalleled movie going and dining experience to Chestnut Hill,” said Shari Redstone, president of National Amusements.

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.

Voorhees, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that Iron Hill Brewery & Restaurant will open its 10th location at Voorhees (N.J.) Town Center in winter 2012/2013.

This will be the second Iron Hill in southern New Jersey.

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.