Real Estate

Barnes & Noble is set to open its third location featuring the bookseller’s new concept, which combines a bookstore with  a full-service restaurant and table service.   The new store,  at the Palladio of Broadstone in Folsom, California, features a 2,600-sq.-ft. Barnes & Noble Kitchen that has seating for 140, reported the Sacramento Bee.  

CBRE has acquired Cleveland-based Skye Group, a provider of project management, development, and tenant coordination services.    Skye is led by Bradley Sanders, who founded the firm in 2000. Its client list consists of prominent retail real estate investors including Simon, Howard Hughes, Westfield, LaSalle Investment Management, Vornado Realty Trust, New England Development, Ivanhoe Cambridge and Steiner & Associates, as well as brands such as Barneys New York.  

Move over Sephora, fast-growing Ulta Beauty is about to give you some competition.   Ulta will open its first-ever outpost in Manhattan, on the city’s tony Upper East Side.     The retailer leased a 12,000-sq.ft. space on the ground floor of 184 E. 86th St., Commercial Observer reported, with Cushman & Wakefield brokering the deal with Ulta. A Sephora is located on the same block.   

Town administrators in Newnan, Georgia, have proposed offering incentives to owners of local shopping centers to re-invigorate them.   Municipal staff this week invited a group of community leaders to brainstorm about what could be done with the number of dilapidated centers in Newnan. Obstacles preventing owners from re-investing, the group said, included lack of cash flow, fear of selling due to capital gains taxes, and a reluctance to invest until neighboring properties improved.   

Among the retail strategies employed by Sears Hometown and Outlet Stores to turn around its business, the store-within-a-store concept might rank as the most inventive.   Sears Hometown and Outlet Stores have been cropping up inside existing Ace locations around the country (and in some cases, built from the ground up as a combo store).   The latest example of this is taking place in Santa Paula, California, inside the Heritage Ace Hardware located at 568 Suite C West Main Street.  

Casey’s General Stores continues to grow its store portfolio.   The Iowa-based convenience-store operator currently has 39 new stores, 22 replacement stores, and 37 major remodel stores under construction.       Looking ahead, Casey’s has 84 sites under contract for future new store construction and 15 acquisition stores under contract to purchase.     

Dunkin’ Donuts is expanding its footprint in Texas.    The chain signed multi-unit store development agreements with four existing franchise groups to develop approximately 65 new restaurants in Dallas-Fort Worth and the surrounding area.     The new restaurants will include several multi-brand locations with sister brand Baskin-Robbins, the world's largest chain of ice cream specialty shops.