Real Estate

Cole Haan has brought its new store design to the West Coast, opening a flagship at South Coast Plaza, in Costa Mesa, California.   Featuring an all metal and glass storefront with backlit frosted transom, the store has a natural elegance and warm residential feel.  

Ikea is expanding its presence in the Sunshine State.   The home furnishings giant is set to begin construction next month on a store in Jacksonville, its fifth location in Florida, with a planned opening in fall 2017, increasing the Swedish retailer’s presence in the Sunshine State.    Ikea has chosen Marcobay Construction, Lakeland, Fla., to serve as construction manager for the Jacksonville site work and store development project.  

Driving your car on the beach and the Daytona International Speedway. Those are the things that have long defined Daytona Beach. Those and the legendary Bill France, Sr.   

Anthropologie’ s experiential retailing concept takes center stage under its new store banner, Anthropologie & Co., with the first-ever location now open in Walnut Creek, Calif.   The 30,000-sq.-ft. store is a visual treat, and features fully decorated showrooms, filled to the brim with custom furniture.   

Two non-traditional retailers are on the hunt for space to set up shop in the Big Apple.   QVC and Cornerstone, a division of HSN, are looking for real estate to open stores in the Herald Square area of Manhattan, the New York Post reported.  

JLL Income Property Trust has purchased the Kierland Village Center in Scottsdale, Arizona, for $34.5 million. Kierland Village is an upscale development in the Phoenix suburb, which has seen a near 10% rise in population since 2000.   The 118,000-sq.-ft. neighborhood center is anchored by Safeway and houses Walgreens, Einstein Brothers, Pizza Hut, Panda Express, and a UPS Store.   The acquisition is in line with JLL’s current appetite for active, necessity-based centers.  

Experienced investment industry executive David R. O’Reilly has been named chief financial officer of The Howard Hughes Corporation and will assume the office on Oct. 17. He fills the vacancy left by retired CFO Andrew Richardson.   O’Reilly joins the company from Parkway Properties, a Florida-based real estate investment trust whose portfolio is focused on office properties.  Previously, he served in senior executive positions at Banyan Street Capital, Barclays Capital, and Lehman Brothers.  

It’s shaping up as a busy fall for Ross Stores.   The retailer is opening 25 Ross Dress for Less ("Ross") stores and nine dd's Discounts stores across 16 different states in September and October.   The new locations round out the company's expansion plans to add approximately 90 locations in 2016.  

Simon and General Growth Properties veteran Tom Martin has joined McWhinney’s development team as VP of mixed-use operations and general manager of Dairy Block.   A McWhinney press release said that Martin will also hold the title of Mayor of Dairy Block, a mixed-use project the company is building in the Lower Downtown, or LoDo, section of Denver. The neighborhood houses Coors Field, Union Station, boutiques, and galleries.  

The mainstreaming of Manhattan’s once seedy Alphabet City continues apace with the promised arrival of Target on 14th Street and Avenue A.   RKF announced it has concluded a deal for Target to lease 27,000 sq. ft. in one of two seven-story buildings being constructed by Extell Development Company at this location. The mass retailer will occupy 17,700 sq. ft. in the lower level and 9,649 sq. ft. on the ground floor.