Real Estate

Home furnishings giant completes another solar project
Ikea has completed the installation of one of the largest solar rooftops in Ohio. The solar panel installation is atop the retailer’s future store in Columbus, Ohio, due to open in summer 2017. The 213,000-sq.-ft. solar array consists of a 1.21 MW system, built with 3,546 panels, and will produce approximately 1,447,700 kWh of electricity annually for the store, the equivalent of reducing 1,017 tons of carbon dioxide (CO2).
Supermarket retailer taps 24-year-company veteran to head real estate
A Publix Super Markets associate who started his career with the company as a part-time meat cutter has been named VP of real estate strategy. Publix promoted Bob Balcerak to the top real estate post, effective April 3, 2017. As VP, he will oversee the selection of new sites and management of leased properties for Publix stores.

Report: Amazon could upend retail with new brick-and-mortar formats

Amazon is keeping all its options open when it comes to exploring new concepts. The online giant is exploring an array of brick-and-mortar ideas, from electronics stores to stores that sell furniture and appliance, that would use technology in ways and have a dramatic impact on how other stores operate, reported The New York Times.
Auction scheduled for 58 MC Sports locations

MC Sports, a longtime fixture in the Midwest that filed for bankruptcy in February, has put leases on its stores in seven states up for auction. The 58 stores range in size from 11,000 to 46,000 sq. ft. and are located in Iowa, Illinois, Indiana, Michigan, Missouri, Ohio, and Wisconsin. Bids are due by April 7 to A&G Realty Partners, which is handling the auction.
Meijer expands in Indianapolis

Meijer continues to expand its presence in the Indianapolis area. On May 2, the retailer will open two supercenter in McCordsville, Ind., and one in Franklin, Ind. The Indianapolis-area supercenters are two of seven new stores Meijer is opening in Indiana, Michigan and Wisconsin this year.
Report: Hy-Vee to add clothing boutiques in 4 stores

Hy-Vee shoppers will soon be able to buy new clothes while they grocery shop. Two Hy-Vee locations in Nebraska will soon feature F&F clothing boutiques through the Iowa-based retailer’s franchise agreement with the British clothing line owned by supermarket company Tesco, reported The Anchorage Press.
Big changes at center near biggest bridge on earth

The Pinnacle Nord du Lac Shopping Center on the north end of the world’s longest bridge — the Lake Pontchartrain Causeway — is adding about 30% to its size. Property owner Cypress equities has begun construction on an 94,500 sq. ft. of GLA that will house new lifestyle retail and restaurants at the Covington, Louisiana, center that currently spans 327,000 ft.
Online retailer’s newest brick-and-mortar location opens

Amazon’s fifth bookstore is open for business. The online giant’s newest Amazon Books location, a 6,000-sq.-ft. space, opened its doors in Chicago’s Lakeview neighborhood on Tuesday, March 23 — its first location in the Midwest, according to CBS Chicago.
Report: Footwear chain eyes Chapter 11, shutters stores

Payless could be the newest retailer headed toward bankruptcy. The struggling retailer could file for bankruptcy as soon as next week. In the meantime, Payless is already making plans to reorganize operations by shuttering stores, according to Bloomberg.
Real estate experts: Still business as usual at Sears

Despite dire statements made on a recent SEC filing, Sears and Kmart stores will remain as fixtures on the retail landscape for some time to come, according to retail real estate experts contacted by Chain Store Age. “The news was not news,” said REIT analyst Alexander Goldfarb of Sandler O’Neill + Partners about a Sears filing that questioned its own future as a “going concern.”
Grocer continues to expand in the Windy City

Whole Foods Market has opened its second largest location in Chicagoland. The supermarket retailer has opened a 76,000-sq.-ft. store in the city’s Lakeview area. It replaces an older Whole Foods across the street. The older store, which opened in 1996, closed the day the new store opened.
Value teen retailer in aggressive store expansion

Five Below Inc. reported its 11th consecutive quarter of positive same-store sales results amid bullish growth plans for the current year. The value retailer, which targets tweens and teens with a wide array of goods all priced at $5 or below, said it will open 100 stores in 2017, including its first ever locations in the state of California. The chain opened 85 net new stores in 2016.