Skip to main content

Real Estate

  • PetSmart reaches store milestone

    PetSmart continues to expand its brick-and-mortar presence across North America.   The company has opened 1,500th store, in Sheridan, Colorado. The location is one of approximately 80 new stores the pet specialty retailer is opening in 2016 in new markets as well as in convenient locations in current markets.   

  • Upper 5th Avenue is most expensive retail street but rental value on decline

    Rental values on the two most expensive retail streets in the world have decreased as retailers balance the demands of physical and online shopping.   The upper part of Fifth Avenue (49th to 60th Streets) in Manhattan narrowly beat out Hong Kong’s Causeway Bay in DTZ/Cushman & Wakefield’s annual Main Streets Across the World report, which tracks 462 of the top retail streets around the globe, ranking them by their prime rental value.    

  • President-elect hurting traffic at some major retail flagships

    Street closings and protests related to the election of Donald Trump are severely impacting retail traffic on the priciest retail corridor in the world.   Tiffany & Co., Abercrombie & Fitch, Henri Bendel, Polo Ralph Lauren and other retailers on Fifth Avenue are all being affected, according to the Associated Press.  

  • Modern furniture giant expands

    Design Within Reach, which specializes in modern furniture and accessories in the world, is expanding its retail portfolio.   The company opened a 12,000-sq.-ft. store at Westfield Garden State Plaza, Paramus, N.J. The new space features a grand glass atrium entrance, a private VIP valet service and a Chilewich shop-in-shop.     

  • The Source set to open in Q1

    The 400,000-sq.-ft. retail component of The Source, a new mixed-use project in Buena Park, California will be opening next month, according to developer M+D Properties.   A highlight of the center will be the nation’s first CGV Cultureplex, a concept pioneered by the South Korean movie theater chain CJ CGV. It features 4DX theaters with motion seats and ScreenX, which employs six screens and projectors to surround viewers with movie images.  

  • Regency Centers, Equity One merge in $15 billion deal

    Regency Centers, a major player in grocery-anchored centers with 307 properties, and Equity One, owner of 98 retail properties, have signed an agreement to merge. Regency will continue as the surviving public company and, it claims, assume the position as the largest shopping center real estate investment trust.   The combined company is expected to have a total market capitalization of approximately $15.6 billion.   

  • Home furnishings giant’s distribution center going solar

    Ikea continues to expand its use of renewable energy.   The retailer plans to install the largest rooftop solar array in the state on Illinois on its distribution center in Joliet.   

  • Prince Georges Mall adds Ulta and DSW

    The Mall at Prince Georges in suburban Washington, D.C. will welcome a 16,000-sq.-ft. DSW location and an 11,000-sq.-ft. ULTA in second quarter 2017. The signings are part of PREIT’s ongoing strategic plan to re-outfit its centers with “in-demand” retailers.   “The property has just begun its transformation into an elevated, vibrant shopping and dining destination commensurate with the development that has occurred in the surrounding area,” said Joseph F. Coradino, CEO of PREIT.  
X
This ad will auto-close in 10 seconds