Real Estate

New Orleans Saints champion, partner, to expand Dunkin’ Donuts in Louisiana
A new partnership plans to open dozens of Dunkin’ Donuts locations in Louisiana. The company announced that New Orleans Saints Quarterback Drew Brees, in partnership with existing franchisee Vik Patel, has signed an agreement to develop up to 69 new Dunkin' Donuts restaurants in New Orleans, Baton Rouge, Shreveport, Monroe and Alexandria, Louisiana over the coming years. Brees is a New Orleans Saints Super Bowl champion and MVP and former New York Giants offensive lineman.
Ping pong club rounds out leasing at Philadelphia center
Spin, an entertainment concept that had its genesis in “Naked Ping Pong” parties in New York’s Tribeca neighborhood, has taken the ground floor space to close out leasing at a new retail venue in Philadelphia. The glass-fronted, 55,000-sq.-ft. center in Rittenhouse Square, owned by an affiliate of Midwood Investment & Development, is co-anchored by The Cheesecake Factory and Verizon. Also inhabiting the three-story building is &Pizza and WeWork, a collaborative work space.

Bankrupt fashion retailer to initiate auction process

Nasty Gal is moving ahead with plans to be acquired by a British online fast-fashion retailer.
Closing time for the Limited?

As the new year begins, it’s not looking very good for the ailing Limited Stores. Reports are coming in from around the country of Limited store closings, The Columbus Dispatch reported. In Florida, some stores closed after business hours on Christmas Eve.
Delaware center site is Native American burial ground, opponents say

A Delaware developer’s plan to create a green space and shopping center in Lewes, Delaware, an idyllic shore town that was the site of the first European settlement in the state, has encountered a new obstacle. After overcoming opposition by some residents to the commercial re-zoning of 11 acres in this town north of Rehobeth Beach, J.G. Townsend Jr. & Co. now must content with protestors who say that its proposed Gills Neck Village Center would desecrate a Native American burial ground.
Sears announces new round of store closings

Sears Holdings’ store portfolio continues to shrink. The struggling retailer told employees on Tuesday that it will close 30 Sears and Kmart stores in early 2017, reported Business Insider.
Center near Rams stadium site completes first redevelopment phase

Phase one of a $15 million redevelopment of a 304,755-sq.-ft. neighborhood center in Inglewood, California, has been completed, according to owner NewMark Merrill. Initial improvements at Crenshaw Imperial Plaza focused on remodeling the DD’s Discounts and 99 Cents Only stores. In Phase 2, a two-story building will be demolished to make room for a Planet Fitness and a 14,215-sq.-ft. retail building. A 15,000-sq.-ft. Mission View Charter School will also be part of the new mix in the center, which NewMark Merrill purchased in 2015.
In San Antonio, adaptive re-use continues brewing

Early in the 20th Century, the Pearl Brewery in San Antonio was the largest in Texas, and it continued to be a renowned site in the city until brewing operations were shut down in the 1980s. It remained vacant until Rio Perla purchased it in 2001 and set about transforming it into the Pearl Brewery/Full Goods Warehouse, a 26-acre mix of residences, retail, offices, and gathering places.
Downtown Detroit mixed-use property opens

The comeback of downtown Detroit, led by the expansive District Detroit project under construction, was advanced this week with the opening of The Scott at Brush Park. The upscale, mixed-use development of Broder & Sachse Real Estate and Sachse Construction is located about eight blocks north of District Detroit on Woodward Avenue.
Puerto Rican shoe chain makes U.S. debut at Pembroke Lakes

Novus, the shoe retailer with 40 years’ experience and 60 stores in Puerto Rico, has opened its first stateside location at Florida’s Pembroke Lakes Mall. “Novus is aware of the importance of the South Florida market and the large Puerto Rican population of more than 300,000 currently residing in the area that has a close identification with the brand,” said Grupo Novus Marketing Director Sandra Castellon of the brands first steps into the U.S. market.
Unusual retail concept puts new spin on tech retailing

A very tech-savvy retailer retail is expanding its fledgling physical footprint with an eye toward national expansion. b8ta, which lets people test out products from a variety of tech companies, including many small start-up, has opened a store at University Village, Seattle, along with one at Santa Monica Place, Santa Monica, Calif. Both locations were designed by Gensler, and feature a sleek, modern design.
Freeman sells mall it’s held since 1968

After nearly 50 years of ownership, the Carl M. Freeman Companies has sold the Cabin John Shopping Center and Mall in Potomac, Maryland, to Edens for $165 million. Freeman parted with a property that it built in 1968 in order to amass capital for other projects, according to CEO Michelle Freeman, who assumed the helm of the company after her husband, Josh, perished in a helicopter crash.