Real Estate

Lululemon has opened a new concept store in Toronto that’s unlike anything the retailer has done to date.   The 10,000-sq.-ft. store is part retail, part health food café, part gallery — and part practice studio, according to a report by torontolife.com. It even boasts a trailer.    For more, and photos, click here.

Triple Five’s American Dream project in the New Jersey Meadowlands got closer to the finish line today with the announcement that Nickelodeon would be attaching its name and entertainment brands to the retail-entertainment center’s theme park.   To be called Nickelodeon Universe, the 8.5-acre indoor amusement park — reputed by Triple Five to be the Western Hemisphere’s largest — will feature rides themed by Mutant Ninja Turtles, SpongeBob SquarePants, Blaze, and the Monster Machines.  

Boating goods retailer West Marine has leased 14,650 sq. ft. at St. Georges Crossing, bringing the Woodbridge, New Jersey, center to full occupancy.   Leasing agent for the center, Levin Management, reports that several other centers in its portfolio have reached 100% occupancy in recent months, indicating renewed strength in both the economy and retail in the Northeast. Levin handles a portfolio of 95 properties in that region and in Mid-Atlantic states.  

The Lands' End experience has arrived in the SoHo section of Manhattan.   Lands' End opened an 8,000-sq.-ft., two-floor temporary store, at 580 Broadway, featuring men's, women's and kids' apparel, footwear and accessories from the fall, holiday and winter along with a variety of personalization services and experiences.    

A 25-year-old outlet center in East Naples, Florida, is undergoing an extensive facelift and seeking new retail blood, according to Crossman & Company, which has just been signed as its leasing agent.

Once filled with shoppers, the Naples Outlet Center has dropped in recent years due to an economic downturn in the area, according the Naples Daily News.  In 2014, nearly half of its 40 stores were vacant.

Patton Square Shopping Center in Woodruff, South Carolina, has been acquired by Pro Vest Properties for $7.3 million dollars. SRS Real Estate partners brokered the deal for the seller, an affiliate of Chen Development.

“Patton Square is a solid grocery-anchored neighborhood center with minimal competition in the market,” said Pierce Mayson, VP for SRS’ Southeast Investment Sales Team. “With a long-term anchor lease and very solid sales numbers, this asset is an excellent purchase for the buyer.”

Officials in Sarasota, Florida, are envisioning building a mixed-use project on the site of the town’s Ringling Shopping Center, the site over which Walmart lost a fight to build a new store.

The 9.7-acre site could accommodate 222 residential units and 175,000 sq. ft. of office and retail space. Customer traffic at Ringling Shopping Center, Sarasota’s oldest, had fallen off precipitously in recent years.

The nation’s largest specialty bedding retailer posted disappointing results on Friday for its second quarter.

Mattress Firm Holding Corp. on Friday reported a loss of $2.2 million, after reporting a profit in the same period a year earlier.

Revenue increased 48.2% of $980 million, which also fell short of Street forecasts, reflecting incremental sales from acquired and new stores.

Same-store sales fell 1.1%.