Real Estate

Ellicott City, Md. -- Investment Program Association announced it is honoring Daniel L. Goodwin, principal and chairman of Inland Real Estate Group with its Lifetime Achievement Award. The award was recently presented at the IPA Annual Conference.

Moorestown, N. J. -- PREIT announced the execution of more than 40,000 sq. ft. of new leases and the completion of its renovation to the dining court at Moorestown Mall located in Moorestown, New Jersey. The one million-sq.-ft. property is anchored by Lord & Taylor, Macy’s, Boscov’s and Sears. New retailers include: Yard House, Starbucks Coffee, Liberty Supply Co., Toy Genius, Eye Deals, Yankee Candle, Verizon Wireless and H&M.

Huntsville, Ala. -- RCP Companies announced the opening of the first phase of The Shops at Merchants Walk located in Huntsville, Alabama. The property features 90,000-sq. ft. of shopping and dining experience, including the only Whole Foods Market in North Alabama along with high-end shopping options. The development extends Parkway Place retail node and connects it to the Central Business District.

Livonia, Mich. -- Schostak Brothers & Company announced Steve Black will join its team as acquisitions manager. Black will source, analyze and acquire investment properties for the company’s portfolio, with a focus on growing its Supercenter Walmart shadow anchor footprint.

BJ’s Wholesale Club Inc. is preparing to open its first store in a new state.

GBT Realty Corporation, a national commercial development company headquartered in Brentwood, Tennessee, is developing the BJ’s Wholesale Club in South Carolina, in the city of Summerville. The $12 million development is situated on a 10.5-acre site. The 87,800-sq. ft. membership warehouse club that will feature a BJ’s gas station is expected to open in late 2016. Construction is set to commence immediately following the acquisition of the site in December.

Orchard Supply Hardware is still marching toward its expansion goal of 100 stores and $1 billion in sales by 2017. And the San Jose, California-based retailer with deep Golden State roots has learned a thing or two during its journey, according to president Bob Tellier.

The 76-store chain is actively upgrading its fleet into a shopper-friendly "neighborhood format" while finding a comfortable home in various urban locations.

Macy’s may be cutting back on the number of department stores in its portfolio, but the company is moving ahead with brick-and-mortar growth in other areas.

Over the next two years, Macy’s plans to open about 50 Macy’s Backstage stores in off-mall locations. The roll out builds on the launch of the off-price format this past September.

Bethesda, Md. -- EDENS announced the appointment of Rob Wyant as COO. Wyant brings over 30 years of experience in the retail real estate industry, with most of his career spent at General Growth and Westfield. He will use his vast knowledge in leasing, property managements, legal and tenant coordination functions, to inspire operational excellence at EDENS.

Top Pot Doughnuts will open its third Texas retail café at the new Richardson CityLine development located in Richardson.

The Seattle-based doughnut and coffee chain operates 20 stores in the Seattle-Tacoma and Dallas areas.

"We are thrilled to be a part of CityLine,” saidTop Pot Doughnuts co-founder Mark Klebeck. "We look forward to serving the businesses in this highly anticipated development as well as the residents of Richardson and Plano.”

Macy’s Inc. on Wednesday blamed warm weather, weak tourist traffic and excessive inventory for the company's worse-than-expected third quarter results. The company said it will not pursue spinning off its properties into a real-estate investment trust, but that it is studying real estate options for some of its most iconic stores.