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Real Estate

  • Department store retailer steps back from the off-price retail game

    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.   

  • Done deal: Staples goes private

    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.   

  • Phillips Edison buys Chicagoland center

    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.  

  • Online giant to expand its distribution network in Mexico

    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.  

  • RPAI: ‘Irma was kind’

    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.  

  • First Look: Pottery Barn flagship, New York City

    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.   

  • Glimcher named CEO of Starwood

    Michael P. Glimcher, who stepped down as the chief executive of WP Glimcher last year, has been named CEO of Starwood Retail Partners. He succeeds Scott Wolstein, who has taken on a new role as senior adviser to the parent company, Starwood Capital Group.  

  • Nordstrom edging closer to going private

    One of the nation's best-performing department stores retailers may soon be out of the public arena.    Nordstrom family members are close to selecting Leonard Green & Partners to help fund a buyout of their namesake department store, reported CNBC, which cited people familiar with the matter.  
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