Real Estate

Amazon is further bolstering its presence in The Wolverine State.   The online giant will open a new, 1 million sq. ft. fulfillment center in Shelby, Michigan. The building is set to open in 2018.   The warehouse will focus on picking, packing and shipping large items, like household decor, sporting equipment and gardening tools. These operations will be managed by approximately 1,000 associates, according to Amazon.  

DSW Inc. is making good on its promise to create a foothold in the Persian Gulf.   The footwear giant opened of its first warehouse store in the Kingdom of Saudi Arabia. The new 15,000-sq.-ft. store is located at the Mall of Dhahran.   

The maker of what it calls "the world's most comfortable shoes" has set up shop in New York City.   Allbirds, the eco-friendly online brand with a fast-growing and devoted following (especially in the Silicon Valley), has opened its second brick-and-mortar location, in Manhattan's SoHo neighborhood. The company opened its first store, on the ground floor of its San Francisco headquarters, in April.  

Hurricane Irma packed less of a wallop than originally feared, and shopping centers owners are breathing a sigh of relief.   Retail Properties of America reported that its six Florida properties emerged from the ordeal practically unscathed.  

Off-price retailing is hot, but Neiman Marcus is emphasizing what it knows best.    Neiman Marcus will close 10 of its 37 off-price Last Call stores in order to focus on its full-line luxury department stores. Prior to the news, the retailer has already closed three Last Call outlets this year, including its locations at Allen Premium Outlets, Allen, Texas, and Legacy Place in Dedham, Mass.   

Phillips Edison & Company has acquired a center anchored by Mariano’s grocery in the Chicago suburb of Hoffman Estates.   The 159,443-sq.-ft. Hoffman Village was left two-thirds vacant when Dominick’s closed in 2011, but the emergence of Mariano’s Fresh Market, owned and operated by Roundy’s, returned occupancy back to 94%, according to former owner NewQuest.  

Amazon is looking to take advantage of Mexico’s growing e-commerce industry.   The online giant is planning to open a 1 million sq. ft. warehouse near Mexico City, according to Reuters. Scheduled to open next year, it would be the company’s third distribution center in the country.  

High-end bath, kitchen and appliance retailer PIrch is relying on its California roots for future growth.  

Staples is done trading on Nasdaq.   Sycamore Partners announced that it has completed its acquisition of the office supply giant. Under the terms of the deal, which was announced in June, Staples was acquired by the private equity firm in a transaction valued at approximately $6.9 billion.   

Pottery Barn is showing off its latest store concept at its just-opened flagship in Manhattan's Flatiron District.   Located in a landmark Beux-Arts styled building, the 17,000-sq.-store features original columns and adorned ceiling accents. It emphasizes local partnerships, design services and exclusive products, including one-of-kind vintage items.