Real Estate

Newcastle, Wash. -- Retail Properties of America announced that it has closed on the off-market acquisition of Coal Creek Marketplace, a 56,000 sq. ft. grocery-anchored center located in Newcastle, Washington for approximately $17.6 million. The center is currently 95% occupied and anchored by Quality Food Centers, a subsidiary of Kroger.

As Target moves to reimagine the shopping experience for customers who visit its stores, the retailer has applied for two liquor licenses for a future store in Chicago.

USA Today reports that the company has applied for packaged goods and consumption on premises licenses.

The retailer may be trying to follow the lead of Kroger, Duane Reade and other retailers looking to expand their alcoholic offerings, which could pose operational challenges at these stores.

The value of a super premium domain name that people instinctively visit during the holidays will be revealed soon as a leading asset disposition firm looks to extract maximum value for Santa.com.

New market entries, a newly developed small format and ambitious omnichannel efforts have family footwear retailer Shoe Carnival on a trajectory to surpass $1 billion in annual sales.

St. Louis -- Build-A-Bear Workshop continues the transformation of its store experience — and business.

The specialty retailer on Tuesday debuted its updated store design at Mall of America, in Bloomington, Minnesota. Part of a company-wide brand refresh, the reformatted location was developed to increase productivity and optimize space while updating the brand’s overall brand look. New elements include:

• Sophisticated new logo, store set-up and color palette;

Los Angeles – Forever 21, known for operating some truly large stores, is reportedly rethinking that strategy.

According to the Wall Street Journal, the specialty fast-fashion retailer is also in talks to obtain a $150 million load.

Orlando, Fla. -- Madison Marquette announced it has been selected to provide leasing services for Parc Central mixed-use development, located in Orlando, Florida. The development is slated for a first quarter 2016 groundbreaking.

Parc Central will consist of a 29-story high-rise, mixed-use tower featuring 215 luxury residential apartments with rooftop amenities, approximately 15,000 sq. ft. of ground floor retail space and a 30,000-sq.-ft. retail floor located above the parking deck.
 

New York -- Rebecca Minkoff has brought its “Store of the Future” concept to Los Angeles.  

Mooresville, N.C. – Lowe’s Companies Inc. is making a big purchase that will enable it to build a big store on one of Hawaii’s biggest islands.

The retailer is purchasing an 11-acre property in Kahului, Hawaii for $18.7 million from A&B Properties Inc., a subsidiary of Alexander & Baldwin.

Lowe’s plans to build a 167,000-sq.-ft. store on the site, located on the island of Maui. The new store will be 16% larger than Lowe’s current store in Kahului, which it leases from a third party.

Pittsburgh – Dick’s Sporting Goods Inc. continues to expand its portfolio.

The retailer plans to open three new stores Sept. 11. Two of the stores will be located in Alabama and one in Arizona.

Dick’s will open its 13th and 14th stores in Alabama at the Shoppe at Legacy Park in Tuscaloosa and Cullman Shopping Center in Cullman, and ninth store in Arizona at Wilmot Plaza in Tucson. Dick’s will have 628 stores across the U.S. with these openings.