Real Estate

Retail phase of 65-acre Florida project is approved
Metropica, a 65-acre community planned for Sunrise, Florida, will begin building 370,000 sq. ft. of retail, dining, and entertainment space after getting the go-ahead from the town’s Planning and Zoning Committee. Tenants waiting to fill the space include iPic Theaters, Anthropologie, Fogo de Chao, Kings Bowl, and Kona Grill. Also approved as part of this first phase of construction phase were a 345-unit apartment building, a 240-room hotel, and 140,000 sq. ft. of office space.
Austin named top town for real estate development
Texas is the go-to state for real estate developers in the U.S. and Canada, according to PwC and the Urban Land Institute. In the 38th annual edition of the joint study, “Emerging Trends in Real Estate,” investment companies surveyed named Austin and Dallas/Fort Worth as the top two cities for development. The Northwest put in the second-best showing, with Portland and Seattle coming in at numbers three and four.

New J.C. Penney location emerges in San Bernardino

In an age when mall owners’ overriding challenge is what to do with the space left by departed department stores, one 50-year-old center in California landed a new one. Penney last week opened a 119,000-sq.-ft. location at Inland Center in San Bernardino, joining co-anchors Macy’s, Sears, and Forever 21. The fully renovated space it occupies was last home to Gottshalks.
High street rents go, well, sky-high

Current retail thinking that the high and the low ends are driving the industry has gotten a boost from CBRE Group. High street rents are off the charts worldwide, according to company’s just-released Global Retail Rents report. Rents in prime shopping locations during the second quarter were up 30% in Rome, 24%, 20% in Milan, and 14% in Sydney and New York.
Raley’s ‘Park’ gets OK from Sacramento planners

Raley’s, the Northern Californian grocery chain, got one step closer to its vision to build a neighborhood “hub” in Sacramento. According to a report in the Sacramento Bee, the city’s Planning and Design Commission voted 12-to-1 to approve the chain’s plans for “The Park,” a 108,000-sq.-ft. open-air center ringed by a metal canopy and featuring large store windows and shrub-filled “green screens.”
Specialty outdoors retailer opens community-minded D.C. flagship

The venue where the Beatles performed their first concert in the United States now houses REI’s newest flagship location.
Round One to open first New York location

Round One, Japan’s answer to Dave & Busters, announced it will open its first New York State location at the Galleria at Crystal Run in Middletown. The entertainment brand offers bowling, karaoke, billiards, and darts, as well as food. Other new locations in Colorado, Georgia, and Pennsylvania will bring its U.S. store total to 14. Round One spaces are generally 80,000 sq. ft.; the Middletown store will be only 45,000 sq. ft.
Report: Authentic Brands Group, Iconix Brand Group eyeing American Apparel

Several companies have reportedly expressed interest in acquiring the debt-laden American Apparel. Brand licensors Authentic Brands Group and Iconix Brand Group are among the companies eying the chain, Reuters reported.
German audio company opens experiential store in New York

A German brand known for its high-quality headphones had dropped anchor in the United States. Sennheiser has opened a pop-up, in the SoHo section of downtown Manhattan, that is designed to let visitors try out its products firsthand. The brand is also set to open a permanent retail space, at the Westfield World Trade Center in Manhattan, in late October. It will serve as a showroom and not sell product (product is sold at the pop-up, however).
Department store retailer continues Canadian expansion

Nordstrom has opened its second full-line store In Toronto. The department store retailer opened a three-level, 199,000-sq.-ft. store at Yorkdale Shopping Centre on Oct. 21. It is the company's second location in Toronto, with the first, at CF Toronto Eaton Centre, opening in September.
Big number paid for Houston center

A 65,798-sq.-ft. neighborhood center in the Houston suburb of Greenspoint has been purchased for $15 million, or about $228 per square foot, according to the Chron website. Deal broker CBRE said that’s one of the highest prices paid for retail space in the area on a square-foot basis.
Starbucks reveals location of fourth Reserve Roastery format

Starbucks is bringing its new immersive store concept to Tokyo. The coffee giant will open a Reserve Roastery in Tokyo, in 2018. Located in the Nakameguro district, an upscale neighborhood, the Roastery will be designed in collaboration with Kengo Kuma, a world-renowned architect and founder of Kuma Lab at the University of Tokyo.