Real Estate

Strategic partnership seeks opportunities in Southeast
St. Petersburg-based Sembler Co. and Atlanta-based Berkley Development have formed a new venture to explore development opportunities in the Southeast. “This partnership will allow us to work with an exceptional industry professional to better pursue other types of development and redevelopment – small power centers, urban redevelopment projects, even retail elements of primarily residential developments, as possible examples,” said Sembler CEO Ron Wheeler.
Petco adding more stores
Petco continues to grow its retail presence. The specialty retailer of pet food, supplies and services, will open five new stores in April. In addition to featuring a wide range of pet food, toys and accessories, each new store will include dog training areas, adoption centers and grooming salons. Last year, Petco opened 71 new stores and one new Unleashed by Petco store, and remodeled 41 locations.

Fast-fashion retailer expanding further into Canada

Uniqlo is set to open its third location in Canada. The Japanese retail giant will open a two-level, 20,630-sq. ft. store at Metropolis at Metrotown, Burnaby, this fall. It will be Uniqlo’s first location in British Columbia, with the retailer’s other two Canadian stores in Toronto.
First Look: Under Armour, Detroit

Under Armour has brought its experiential “brand house” store concept to downtown Detroit. The three-floor, 17,000-sq.-ft. space reflects the company’s roots in Baltimore and also pays homage to the history and spirit of Detroit. The design uses athlete imagery and product installations to convey an immersive brand experience and inspire customers.
Vermont mall project back on track with Rouse involvement

Rouse properties has announced plans to enter into a joint venture agreement with Devonwood Investors in the transformation of an outdated Burlington, Vermont, mall into a mixed-use center. The deal is expected to be closed in the coming weeks. Burlington Town Center, a traditional enclosed mall in the center of the state’s largest city, is to be converted into a modern apartment block including restaurants and an upgraded retail component.
Fast-growing teen value retailer enters California

Five Below is making its West Coast debut. The retailer will open stores on Friday, April 21, in Aliso Viejo, Anaheim, Compton, Hawthorne, Montebello, Fontana, Rancho Cucamonga, South Gate and Redlands. The stores mark the company’s first West Coast locations, bringing its reach to approximately 550 stores in 32 states.
PetSmart expands physical presence and digital offerings

PetSmart is growing its brick-and-mortar footprint along with its digital one. The retailer opened 30 stores across the U.S. and Canada in the quarter ending January 29, 2017, for a total of 70 new stores opened in fiscal 2016 to 73.
Fast-growing beauty retailer coming to nation’s largest mall

Ulta Beauty is touching down at Mall of America. The retailer will open an 11,000-sq.-ft. location at the mammoth shopping center, which is located in Bloomington, Minnesota, in fall 2017. In addition to more than 20,000 products, Ulta Beauty will also feature an in-store offering a variety of hair, skin, and brow services.
Regency announces Miami development

Regency Center has announced the start of a ground-up addition to a center in an affluent section of Miami. The nation’s largest retail REIT will add 70,000 sq. ft. of retail to an existing 173,000-sq.-ft. Target on US- 1 to create the new center, called Pinecrest place. The bulk of the addition will be occupied by a 46,000-sq.-ft. Whole Foods Market. Construction is expected to be completed in second quarter 2018.
Detroit power center changes hands

Shelby Crossings, a 76,390-sq.-ft. power center in the Detroit suburb of Utica, has been acquired by Beverly Hills, Michigan-based Grand Management & Development. Mid-America Real Estate Corp., which represented the seller in the transaction, could not disclose the price. The property features the Bed Bath & Beyond subsidiaries Christmas Tree Shops and BuyBuy Baby, and is surrounded by a larger regional center anchored by Target and Planet Fitness.
Legoland opens first Pennsylvania location

Joe Coradino’s experience-driven rebuilding of PREIT malls has given kids in Pennsylvania something new to build on — or, more like, in. The state’s first Legoland Discovery Center has opened in the Plymouth Meeting Mall, north of Philadelphia, pushing the percentage of the property’s dining and entertainment space above 45%, compared to an average of 17% at other PREIT malls.
Department store retailer enters new market

Von Maur has opened its first location in Wisconsin. The family-owned company opened a 150,000-sq.-ft. store at The Corners of Brookfield in Brookfield, Wisconsin. Von Maur has been expanding with its eye on a national footprint. After expanding beyond its Midwestern footprint in 2011 with the opening of its first location in Georgia, Von Maur has since grown in additional new states including New York, Alabama and Oklahoma.