Real Estate

Amazon’s expansion into brick-and-mortar taking it to NYC
New Yorkers will have a new way to browse Amazon’s best-selling book titles — in a physical store. Later this year, the retail giant will open a book store in Manhattan’s Shops at Columbus Circle, in the Time Warner Center, according to ReCode.
Project Profiles

Seaport District

Location: Lower Manhattan, New York, N.Y.

Size: The transformed Seaport District will encompass seven buildings on several blocks totaling more than 400,000 sq. ft.

Developer: The Howard Hughes Corporation

Key tenants: iPic Theaters, 10 Corso Como, Scotch & Soda

Status: Pier 17, the property at the center of the Seaport’s development plan, is set to open next year.

Finding a New Outlet

New retailers and new consumers (read: millennials) are discovering value retail, and that means more outlet centers in more locales in more different configurations.
When it comes to overstoring, China’s the champ

U.S. real estate developers and brokers coping with epic changes in the retail landscape can take some solace from the fact that, when it comes to overstoring, America’s got nothing on China. A list of cities with the most shopping center space under construction from CBRE Research had Chinese cities occupying 11 of the top 12 spots, led by Chongqing with 39.8 million sq. ft. being built. Shenzhen (38.7 million) and Chengdu (37.6 million) weren’t far behind.
NYC BEST BETS: TOP 10 NEW STORES

The past year saw the opening of dozens of exciting new stores in Manhattan. Here’s my annual list of faves:
• Barneys: In a spectacular homecoming, the upscale retailer opened a stunning flagship downtown on the same block the company was founded in 1923. The multi-level, 55,000-sq.-ft. store combines the ultimate in modern luxe with the latest technology, from beacons to a store clienteling app to mobile checkouts. (101 Seventh Ave.)
Northeastern Exposure

Packed and bursting with opportunities
Ground-up projects are hard to come by here, but shopping center innovation and new retailers are not
Density and diversity. The two D’s. That, in short, is what sums up the Northeast market for retailers. It’s the place where chains with national expansion plans or new formats to test need to be.
Expanding North

DLC Management Corp.’s grocery-anchored shopping centers can be found in places such as Dallas; Milwaukee; Columbus, Ohio; and Birmingham, Ala.; but the company has a special stake in the Northeast. In October, DLC closed the biggest deal in its history, acquiring a passel of 16 centers, all but one of them in New York state. Chain Store Age Real Estate Editor Al Urbanski talked with DLC CEO Adam Ifshin and asked him what retailers need to know about the Northeast market.
Done deal: Penney sells headquarters campus in leaseback deal

J.C. Penney continues to lower its debt load. The retailed has sold its sprawling headquarters campus in Plano, Texas, to Dreien Opportunity Partners, general partner of Silos Opportunity Partners, for a gross sale price of $353 million before closing and transaction costs.
Sears gets another lifeline from CEO — this time backed with real estate

For the second time in a week, Sears Holdings Corp. is borrowing money from the hedge fund of its CEO. The embattled retailer has entered into a $500 million secured loan facility (maturing in July 2020) with ESL Investments, the hedge fund controlled by Sears chairman and CEO Edward Lampert. Of the total, $321 million was funded immediately, and an additional $179 million may be drawn in the future.
Shop Talk

TRENDING STORES: Two Canadian brands are dropping anchor in the United States. Health and beauty retailer Saje Natural Wellness, which operates 45 locations up north, will open two stores in the Los Angeles area by year end. Another 25 stores are on tap for 2017. Featuring natural wellness, personal and home care products and accessories, Saje stores are open, light and airy, with a high level of design. The Saje store at Toronto’s Sherway Gardens features a 30-foot Italian tile façade.