Real Estate

British retailer sets its sights on U.S.
Wolf & Badger, a strong supporter of emerging fashion brands, is dropping anchor in the United States. Founded in February 2010 by brothers Henry and George Graham, the British retailer will open a 2,500-sq.-ft. flagship in Manhattan’s SoHo neighborhood, in February. Although Wolf & Badger operates two stores in London, it is primarily an e-commerce player, with over 90% of its sales coming from online. But similar to many pure players, it feels a physical space is crucial to connecting with customers.
Trademark plans 82-acre mixed-use center in West Houston
What Trademark did north of Houston with Market Street Woodlands (above) it intends to do in West Houston with an 82-acre mixed-use town center at the junction of I-10 and Mason Road. “We believe this site is the next great opportunity in the country to develop a premier regional, mixed-use town center,” said Terry Montesi, CEO, Trademark Property Co. “There is a tremendous retail void in West Houston.”

RILA, ICSC in partnership to improve energy efficiency in leased spaces

Three groups have joined together to empower commercial building landlords and tenants to improve energy efficiency in leased space and reap up to $5 billion in annual energy savings. The Retail Industry Leaders Association (RILA), the International Council of Shopping Centers (ICSC), and the Institute for Market Transformation (IMT) are launching a coordinated national effort, called the Landlord-Tenant Energy Partnership, to reduce energy use across billions of square feet of leased space.
JLL to handle leasing for Woodmore Town Centre

JLL has been selected to manage retail leasing for Woodmore Towne Center in Glenarden, Maryland, which is being expanded into a 245-acre mixed-use development. Under construction at the location east of Washington D.C. off the Capital Beltway are 1,100 residential units, two hotels, and a million sq. ft. of office space. Expansion of the retail space, which has drawn Nordstrom Rack to the center, will bring it to a total of 800,000 sq. ft.
Walgreens struggling to sell stores

Walgreens is ready to shutter up to 1,000 stores, but no one is biting. In accordance with the closing of its deal to purchase Rite Aid, the Walgreens Boots Alliance must sell or close between 500 and 1,000 of its stores. However, there is a lack of interest among private equity firms, according to an Investopedia article. Walgreens still expects to move forward with the Rite Aid acquisition, which is slated to close in the second half of this year, the article said.
Vestar Plans a refresh for California center

Pacific Commons, located in the famed Gold Rush town of Fremont, California, will be getting a refresh, said owner Vestar. The 1.2 million-sq.-ft. lifestyle and power center will be refurbished with new indoor-outdoor dining areas, trellis-enhanced landscaping, stone and wood seat walls, a fountain, and a gathering area with fire pits.
Forever Flawless opens flagship at World Trade Center

Forever Flawless, a global skin care company that puts diamond dust in its creams, has opened a flagship store at Westfield World Trade Center in New York. The company, which claims to bring celebrity skin care methods to consumers, sells Black Diamond Age Defying Series, Pink Diamond Collagen treatments, and 24 Karat Gold therapy. Forever Flawless fields stores in Hong Kong, London, Madrid, Miami, London, and Syndey, among other locales.
Washington, D.C.-area mall to get mixed-use makeover

Forest City Realty Trust has announced the completion of an agreement with Arlington County, Virginia, to transform Ballston Common Mall in a mixed-use project to be renamed Ballston Quarter. The public-private partnership will open up the existing enclosed mall, create a public plaza in the space, and add a 406-residence residential tower adjacent to the retail center. The plan also calls for infrastructure improvements including a renovated pedestrian bridge and new landscaping
Cartier, Hermes to open at Stanford Shopping Center

Simon Properties has announced the impending arrivals of Cartier and Hermes at its Stanford Shopping Center in Palo Alto, California. This marks Hermes’ first new U.S. store in five years, according to Simon. The 6,000-sq.-ft. Hermes shop, which will reside near Neiman Marcus in the center of the newly updated center, is scheduled to open in late 2017 or early 2018. Its focus will be on men's, women's, home, and equestrian collections.
Phillips Edison buys Jacksonville Center for $25 million

Phillips Edison has acquired the Harbour Village Shopping Center in Jacksonville for an estimated $24.9 million, according to the Jacksonville Business Journal. The center was sold by a joint venture of MMG Equity Partners and Global Fund Investments, which purchased it in a foreclosure sale for $12.6 million in 2011. At that time, Harbour Village was 86% occupied.
Canadian apparel retailer looks to expand with IPO

Aritzia Inc. is expected to raise C$400 million ($302 million) in its initial public offering. The company, based in Vancouver, sells fashion-forward clothes and accessories for young women. It has 75 stores in North America, including locations in New York, New Jersey, Toronto, Montreal, Boston, and Chicago, along with an online business.
Executive moves at Publix

Publix Super Markets has promoted Bob McGarrity, director of construction, to VP of facilities. McGarriity replaces 42-year company veteran Dave Duncan, who has announced his decision to retire effective Dec. 31, 2016. In other appointments, VP of real estate Jeff Chamberlain will be promoted to senior VP, overseeing real estate and facilities, effective Jan. 1, 2017.