Real Estate

Here's where Walmart is expanding its store base
On the heels of announcing it would close more than 150 stores in the United States, Walmart says it will open 15 supercenters this month in Canada.

These grand openings bring Walmart Canada's total store count to 400 stores, including 312 supercenters and 88 discount stores. The company says its 15 supercenter projects represent an investment of more than $100 million and have generated approximately 700 new store jobs and 1,450 construction and trade jobs in that nation.
Bloomingdale’s to open second international store
Macy’s announced that a Bloomingdale’s store will open in spring 2017 in Kuwait as part of the company’s strategic partnership with Al Tayer Group LLC.

This will be Bloomingdale’s second international location (the first opened in Dubai in 2010) and ahead of Macy’s and Bloomingdale’s stores scheduled to open in Abu Dhabi in 2018 – all in partnership with Al Tayer.

Brickell City Centre announces 40 new tenants

Swire Properties Inc, one of South Florida's leading international developers of urban real estate, along with retail co-developers Whitman Family Development and Simon Property Group, announced new tenants set to join Brickell City Centre's, a 500,000-sq.-ft- open-air shopping center under construction in the heart of Miami’s Brickell neighborhood.
H-E-B to open convenience store format

Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-sq.-ft. convenience and fuel center.
Report: H-E-B to open convenience store format

Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-square-foot convenience and fuel center. "The convenience store market in San Antonio has become increasingly competitive over the past few years, made even more so with local CST Brands agressive expansion plans," the business journal reported.
Marsh pledges to remodel 30 stores

Marsh on Tuesday affirmed its commitment to the Bloomington, Indiana market and the company's two other Bloomington stores, 1825 Kinser Pike and 123 South Kingston Drive, following the closure of its location at 3600 West Third Street.

The Kinser Pike store will begin an extensive remodel immediately, Marsh reported, along with the copmany's Teal Road store in Lafayette, Indiana. Other recent remodels include Marsh's Kingston Drive store in Bloomington, as well as its Salisbury Street location in West Lafayette.
Staples, Office Depot extend merger agreement

Staples is giving itself three more months before calling off its proposed $6.3 billion acquisition of Office Depot, giving the companies time to fight an antitrust lawsuit with the Federal Trade Commission.
Now Trending: Crea(c)tivity in the Urban Core

“Now Trending” is an exclusive online series to chainstoreage.com, featuring trending topics that impact the retail real estate landscape.

As more of my work brings me into contact with mixed-use developments in urban core markets, it’s clear to me that there are some important changes taking place – changes that are fueling the ongoing mixed-use renaissance in many cities.
Giant Eagle exec to head up real estate for La-Z-Boy

La-Z-Boy Inc. announced the appointment of James Chickini as VP, real estate, responsible for real estate development initiatives for the La‑Z‑Boy Furniture Galleries store network, including corporate-operated locations, across North America.
Walmart closing unprecedented number of stores

Walmart said it will close 269 stores worldwide this year, including many of its smallest stores, in an unprecedented move CEO Doug McMillon characterized as being more disciplined about growth.
Report: CVS to open new location on Vegas strip

A CVS store is expected to open on the Las Vegas strip in May, according to a report by Vegas Inc. published Tuesday. It will be CVS' fourth location to Walgreens' five, the report noted. "They've really been popping up quickly," Ray Germain, associate VP investments with Marcus & Millichap told Vegas Inc. "It's crazy what you'll pay for a little packet of Advil. (Vegas Inc.)
American Apparel board rejects Charney-supported takeover bid

Has founder and ousted CEO Dov Charney made his last stand at American Apparel?

The board of American Apparel Inc. rejected a $300-million takeover bid from Hagan Capital Group and Silver Creek Capital Partners — the investors aligned with Charney — according to the Los Angeles Times.