Real Estate

Bankrupt fashion retailer BCBG Max Azria Group has reached an agreement on a comprehensive restructuring.   It includes the possible sale of nearly all the retailer's assets to Marquee Brands LLC and Global Brands Group Holding Limited. The completion of the transactions with Marquee and Global Brands are expected to immediately follow approval by the United States Bankruptcy Court. The expected closing date is no later than July 31, 2017.   

BJ's Wholesale Club is set to open its first location in South Carolina.   The retailer will celebrate the grand opening of its new location in Summerville, South Carolina on Saturday, June 10. The store, which marks BJ's expansion into South Carolina, is located at the intersection of Interstate 26 and North Main Street, Summerville's primary retail corridor.  

Duluth Trading Company continues to grow its sales and store footprint.    The retailer of men’s and women’s workwear, casual clothing, and accessories reported that net sales increased 21.9% to $83.7 million in the quarter ended April 30, up from $68.6 million in the prior-year first quarter. It was the company's 29th consecutive quarter of increased net sales year-over-year.  

In reaction to changes that have transpired in the adjoining East Cambridge and Kendall Square neighborhoods since it debuted in 1990, CambridgeSide Galleria outside of Boston is undergoing a $30 million makeover.   Owner New England Development calls it a “repositioning” that will see the “Galleria” tag dropped from the title of the center, one of the first regional enclosed malls erected in an urban setting. It is the centerpiece of a 1.2-million-sq.-ft. mixed-use project that includes office space and a hotel.

As Sears Holdings continues to struggle, the chain has once again updated is restructuring plan.   The embattled retailer has added 72 more stores to its list of upcoming closures. This is in addition to more than 180 closings that it already an-nounced, according to Business Insider.   

It’s closing time for Bebe Stores.   The struggling apparel retailer said on Wednesday, June 7, that it reached agreement with substantially all of its retail store landlords to terminate their existing leases. The cost to terminate the leases is estimated to be approximately $65 million.  

Macy’s is toying with a lofty idea that could create more traffic at its Herald Square store in New York City.  

The vacated Whispering Pines Mobile Home Park in North Attleboro, Massachusetts, will be filled with retail by a local developer building centers large and small along the Rhode Island border.   The still nameless project makes the fifth center that Johnston, Rhode Island-based Carpionato Group has under development in the area. They range in size from 53,000 sq. ft. of GLA at the Shoppes at Mayfaire in Attleboro to 830,000 sq. ft. at the Stonehill Marketplace power center in Johnston.  

Mall management veteran Jeannette Smith has been named general manager of OKC Outlets, which changed hands last month.   CBL sold the former Outlet Shoppes at Oklahoma City to The Outlet Resource Group and Singerman Real Estate in May for $38 million. The new owners changed the center’s name to OKC Outlets in a RECon show ceremony presided over by Oklahoma City Mayor Mick Cornett.