Real Estate

Save-A-Lot may be facing a possible spin-off from parent company Supervalu, but the chain is still bullish about its future.    Supervalu is expected to announce the fate of its discount grocery banner next week, the St. Louis Post Dispatch reported, with Toronto private equity firm Onex Corp. the leading bidder if Supervalu does pursue a sale. 

A sizzling Ulta Beauty wowed the Street on Thursday, announcing aggressive store expansion at a time when many brick-and-mortar retailers are cutting back. It also upped its outlook.  

Anthropologie’ s experiential retailing concept takes center stage under its new store banner, Anthropologie & Co., with the first-ever location now open in Walnut Creek, Calif.   The 30,000-sq.-ft. store is a visual treat, and features fully decorated showrooms, filled to the brim with custom furniture.   

JLL Income Property Trust has purchased the Kierland Village Center in Scottsdale, Arizona, for $34.5 million. Kierland Village is an upscale development in the Phoenix suburb, which has seen a near 10% rise in population since 2000.   The 118,000-sq.-ft. neighborhood center is anchored by Safeway and houses Walgreens, Einstein Brothers, Pizza Hut, Panda Express, and a UPS Store.   The acquisition is in line with JLL’s current appetite for active, necessity-based centers.  

Two non-traditional retailers are on the hunt for space to set up shop in the Big Apple.   QVC and Cornerstone, a division of HSN, are looking for real estate to open stores in the Herald Square area of Manhattan, the New York Post reported.  

It’s shaping up as a busy fall for Ross Stores.   The retailer is opening 25 Ross Dress for Less ("Ross") stores and nine dd's Discounts stores across 16 different states in September and October.   The new locations round out the company's expansion plans to add approximately 90 locations in 2016.  

Simon and General Growth Properties veteran Tom Martin has joined McWhinney’s development team as VP of mixed-use operations and general manager of Dairy Block.   A McWhinney press release said that Martin will also hold the title of Mayor of Dairy Block, a mixed-use project the company is building in the Lower Downtown, or LoDo, section of Denver. The neighborhood houses Coors Field, Union Station, boutiques, and galleries.  

Experienced investment industry executive David R. O’Reilly has been named chief financial officer of The Howard Hughes Corporation and will assume the office on Oct. 17. He fills the vacancy left by retired CFO Andrew Richardson.   O’Reilly joins the company from Parkway Properties, a Florida-based real estate investment trust whose portfolio is focused on office properties.  Previously, he served in senior executive positions at Banyan Street Capital, Barclays Capital, and Lehman Brothers.