Real Estate

Ikea is expanding yet another of its older U.S. stores.

The home furnishings giant has begun demolishing a covered parking structure where it will construct a new, larger store in Renton, Washington, across the 29-acre parcel from its current Seattle-area store.

Razing the building will make room for construction of the new Renton store, slated to open in spring 2017.

Actual store construction likely will commence later this year after completion of the demolition and site preparation.

Wal-Mart Stores Inc. is reportedly making a significant investment to support e-commerce operations.

According to the Tampa Bay Business Journal, Walmart is spending $200 million on a new distribution facility in Polk County, Florida that will be dedicated to fulfilling e-commerce orders.

Edens and Montgomery County Maryland announced the redevelopment of Burtonsville Crossing and the adjacent park-and-ride lot located in Burtonsville, Maryland.

In 2014, Edens was selected by Montgomery County to develop the adjacent surface parking lot while continuing to provide commuter parking at this strategic location.

CMA architecture firm Principal Patrick G. Blees announced Nicole Urista has joined the firm’s Minneapolis office to further develop CMA’s growing  portfolio of regional and national accounts. 

Urista’s key responsibilities are to assist leadership with business development and coordinate all marketing efforts while facilitating the continued growth of CMA.

Another global fashion retailer has made its U.S. debut.

Tokyo-based Tomorrowland , which has a cult following in its home country,  has opened a store in the SoHo neighborhood of Manhattan. The retailer, which operates some 160 stores in Japan, is known for its cool fashions, upmarket prices and sleek, minimalist ambience.

The 3,200-sq.-ft. store features the brand’s exclusive men’s and women’s collections, along with a curated selection from several contemporary labels.  

CBL is giving shoppers with kids a fun reason to visit its centers.

CBL & Associates Properties and Playtime have entered into a multi-year partnership with Fisher-Price, Inc., a leading infant and preschool toy manufacturers, and a subsidiary of Mattel, Inc., to design soft play areas at select CBL centers nationwide.

Minnetonka, Minn. — Real estate developer Paster Properties and multi-family property developer and manager Bader Development, have begun construction at 1700 Plymouth Road, a six-story, 155,000-sq.-ft., mixed-use redevelopment project in Minnetonka, Minnesota. Paster Properties president Howard Paster and Bader Development VP of acquisitions and development Robb Bader made the announcement. 

Taubman Centers named Simon J. Leopold, treasurer and executive VP, capital markets, as CFO, effective Jan. 1.

Leopold will succeed current CFO Lisa A. Payne, who will continue as vice chairman until she leaves the company in March. Payne has been with the shopping center development and management company since 1997. Earlier, she was a vice president of Goldman, Sachs & Co.’s investment banking division.

St. Charles, Mo. -- Cullinan Properties continues its growth in the St. Charles, Missouri, region with the announcement of three new restaurants joining the Streets of St. Charles.

Wasabi Sushi Bar and Picasso's Coffee House are targeted to open September 2015 and P.F. Chang’s China Bistro is expected to open in spring 2016. The restaurants will join a growing list of eateries at Streets of St. Charles: Prasino, Bar Louie, Tucano’s, Dewey’s Pizza, and Five Guys Burgers and Fries.
 

Glendale, Ariz. -- Brixmor Property Group announced that Glendale Galleria, located in Glendale, Arizona, will undergo a comprehensive renovation and will add anchor tenant LA Fitness, a 36,894-sq.-ft. new prototype facility.  

“With the addition of LA Fitness and plans for a newly renovated center, we will be delivering a substantially improved shopping environment for our customers and retailers at Glendale Galleria,” said Matt Berger, senior VP of leasing for Brixmor Property Group.