Skip to main content

Real Estate

  • Sears Canada chairman to make bid for troubled chain

    There's a new person running things at Sears Canada.    Brandon Stranzl, executive chairman of Sears Canada has been removed from his day-to-day responsibilities of running the company in order to work on a management bid for the retailer, the Globe & Mail reported. Sears COO Becky Penrice is now leading the chain's executive team.   

  • Levin tapped to build and lease New Jersey center

    Levin Management Corp. will be building, leasing, and managing a new neighborhood center on the former site of an auto repair shop in Union, New Jersey.   Rising household incomes in the area make it a prime location for new retail in a dense urban region, according to Levin’s senior VP of Leasing and acquisitions Joseph Lowry, who points to a daytime population 86,000 and an average household income of $110,000.  

  • Wegmans may lose out to parking garage in Boston

    The paucity of parking in Boston could scuttle hopes of residents there to obtain their first Wegmans supermarket.   A Wegmans had for years been in Samuel Associates’ planned Landmark Center expansion in the Fenway section of town. But, with parking lot rates zooming upwards in Boston, the developer is now leaning toward keeping the garage it was to demolish to make room for the supermarket, reports the Boston Globe.   

  • Dick’s Sporting Goods to open at another CBL property

    CBL is getting ready to open its 28th Dick’s Sporting Goods store, this one at Richland Mall in Waco, Texas.   “This new store will drive significant traffic to the center and illustrates our ongoing commitment to enhancing the tenant mix at the property,” said CBL CEO Stephen Lebovitz.   Other new arrivals at Richland include H&M, PINK, and White Barn. Bath & Body Works and Victoria’s Secret recently completed remodels. Dick’s is set to open in spring 2018.

  • Will sales clauses in leases soon become obsolete?

    The retail landscape today looks different than it did just a few years ago. Brick-and-mortar retail is becoming more diverse. Brands are embracing different operational models and integrating more closely with online and mobile channels. Retailers like Bonobos, Warby Parker and Restoration Hardware are using physical locations purely as showrooms, a new trend that appears to be gaining significant traction.  

  • SoCal center sells for $20.7 million

    A limited partnership has purchased the 110,359-sq.-ft. Southridge Plaza in Fontana, California for $20.7 million.   Anchored by a Rio Ranch Market, the necessity-based center is strong among Hispanic consumers in this town just east of San Bernardino. Other tenants include Rite Aid, AutoZone, McDonald’s, Subway, Waba Grill, and Cricket Wireless.  

  • Lake Nona invests in tech for connected retail experience

    Tavisock Development is partnering with a Google company on technology it says will “reimagine” the retail and entertainment experience at its Lake Nona Town Center in Orlando.  

  • TJX to open 260 stores this year

    Off-price powerhouse TJX Companies still seems plenty of room for store expansion — particularly in the home good sector.    The retailer, which reported strong second quarter results on Tuesday, has more than 3,800 stores worldwide and will open 260 new locations this year. Long term, it sees the opportunity for 5,600 stores with it current banners, or about 1,700 more locations than it currently operates.   
X
This ad will auto-close in 10 seconds