Real Estate

Bass Pro Shops has agreed to acquire Cabela’s in a deal that will allow the privately held Bass Pro to nearly double its store count.    Bass Pro plans to purchase Cabela’s for about $65.50 a share in cash, which represents a 19% premium over Friday’s closing price. The agreement will create an outdoor retail powerhouse that specializes in fishing, hunting and boating merchandise. Both companies are known for their elaborate, wilderness-themed store interiors.   

Bonobos opened its fifth Manhattan store this week on Madison Avenue, surrounded by neighbors that include Porsche Design, Tourneau, Dino Baldini, and Lladro.   Called the Bonobos Guideshop NYC, the store inhabits a 1,725-sq.-ft. ground floor space with all-glass frontage on the southwest corner of 52nd Street in the shadow of St. Patrick’s Cathedral. The deal was brokered by RKF.   

Wolf & Badger, a strong supporter of emerging fashion brands, is dropping anchor in the United States.   Founded in February 2010 by brothers Henry and George Graham, the British retailer will open a 2,500-sq.-ft. flagship in Manhattan’s SoHo neighborhood, in February. Although Wolf & Badger operates two stores in London, it is primarily an e-commerce player, with over 90% of its sales coming from online. But similar to many pure players, it feels a physical space is crucial to connecting with customers.  

Three groups have joined together to empower commercial building landlords and tenants to improve energy efficiency in leased space and reap up to $5 billion in annual energy savings.   The Retail Industry Leaders Association (RILA), the International Council of Shopping Centers (ICSC), and the Institute for Market Transformation (IMT) are launching a coordinated national effort, called the Landlord-Tenant Energy Partnership, to reduce energy use across billions of square feet of leased space.    

What Trademark did north of Houston with Market Street Woodlands (above) it intends to do in West Houston with an 82-acre mixed-use town center at the junction of I-10 and Mason Road.   “We believe this site is the next great opportunity in the country to develop a premier regional, mixed-use town center,” said Terry Montesi, CEO, Trademark Property Co. “There is a tremendous retail void in West Houston.”  

JLL has been selected to manage retail leasing for Woodmore Towne Center in Glenarden, Maryland, which is being expanded into a 245-acre mixed-use development.   Under construction at the location east of Washington D.C. off the Capital Beltway are 1,100 residential units, two hotels, and a million sq. ft. of office space. Expansion of the retail space, which has drawn Nordstrom Rack to the center, will bring it to a total of 800,000 sq. ft.  

Pacific Commons, located in the famed Gold Rush town of Fremont, California, will be getting a refresh, said owner Vestar.   The 1.2 million-sq.-ft. lifestyle and power center will be refurbished with new indoor-outdoor dining areas, trellis-enhanced landscaping, stone and wood seat walls, a fountain, and a gathering area with fire pits.