Real Estate

Kenneth Cole is closing all its stores in outlet centers.   The company plans to shutter its 63 outlet stores within the next six months, Bloomberg reported. The move will leave the brand with two brick-and-mortar stores, both full priced, with one in downtown Manhattan and the other in Arlington, Va.  

J. Jill Group Inc. is moving forward with plans for an initial public offering.   The Quincy, Massachusetts-based retailer has tapped Bank of America, Morgan Stanley, and Jefferies Group LLC as underwriters for a possible initial public offering, Reuters reported.     

The Butler North component of Butler Enterprises’ massive retail complex in Gainesville, Florida, brings itself close to 100% occupancy with next week’s opening of Total Wine & More.   The 20,000-sq.-ft store is the latest in a series of new store openings at the center. Also debuting there over the past four months were Walmart Supercenter, Aldi, Marshalls, Payless Shoe Source, and Dollar Tree.  

San Antonio’s zoning commission voted has approved a $300 million makeover of the city’s shuttered Lone Star Brewery. Three previous attempts to redevelop the 32-acre site dating back to 1996 never materialized.   The co-project of CBL and Aqualand Development will be a mixed-use property combining retail, hotel, residential, and office space. Cinemark Theaters and Punch Bowl Social — a dining and gaming center with locations in Denver, Austin, and Cleveland — have signed on as the first tenants.  

Macy’s has signed an agreement that could lead to more downsizing of its valuable real estate portfolio. It also has entered into deals to sell one of its stores in San Francisco, and one in Portland, Oregon.   

National Realty & Development Corp. has announced that new pad buildings will begin going up at two of its centers in New Jersey.   McDonald’s will enter Liberty Square Center in Burlington with a newly constructed 3,911-sq.-ft. store on one of the property’s outparcels. The 380,383-sq.-ft. Liberty Square is anchored by Walmart Supercenter, Acme, Marshalls, and Toys “R” Us.     

Bed Bath & Beyond is going local in Brooklyn, New York.   The home décor chain’s upcoming store in the Sunset Park section of Brooklyn will include a cafe that will feature local items, brooklynpaper.com reported, along with a coffee bar. The 120,000-sq.-ft. store will also offer cooking classes.     Other features will include a “Born in Brooklyn” department spotlighting items made in the borough as a means of supporting local manufacturers, according to the report.

Dollar General is planning to unveil a smaller-store concept designed around convenience.   The new format, reportedly to be called DGX,  is due to open in early 2017, with a unit in downtown Nashville, and another in Raleigh, North Carolina.