Real Estate

Westmont, Ill. -- Tri-Land Properties said that it has named Paul R. Sevenich as VP of leasing. Sevenich brings 30-plus years’ experience in retail real estate development and redevelopment, acquisitions, retail center positioning, value enhanced leasing, merchandising strategies and financial analysis of the Midwest and the South. Some of the companies he has worked for include CSM Corporation, Kraus-Anderson, CBL & Associates and General Growth.

Miami -- Terranova, Lincoln Road shopping district’s largest property owner, released redevelopment plans to activate Lincoln Lane North by developing 723 North Lincoln Lane and 801 Lincoln road buildings. These buildings are part of Miami, Florida’s eight-block retail, dining and entertainment district located blocks from Miami Beaches.   

New York -- Starbucks is going big on the Las Vegas Strip.

The coffee giant is building a store that, in a first for Starbucks, will feature stadium-styled "grandstand" seating from which customers can, in another first, view a huge projector screen, reported Las Vegas Review-Journal. For a video of the store click here.

Bethesda, Md. -- Washington Property Company announced it has acquired Ballenger Creek Plaza, a 75,527-sq.-ft. center located in Frederick, Maryland, for $9.5 million.

“Washington Property Company is excited about expanding its retail portfolio with the acquisition of Ballenger Creek Center,” said WPC president Charles K. Nulsen, III. “We plan to renovate and reposition this neighborhood center in the growing submarket of southwestern Frederick.”
 

Atlanta -- FCA Partners announced the acquisition of Parkway Pointe, a 196,664-sq.-ft. retail center located in Atlanta. The property was purchased for $43.9 million from Stockbridge Capital on June 25.  

Lost jobs, ugly architecture, picky consumers and stiff competition are among the reasons why Costco may have a tough time achieving success in France, according to a Seattle Times report.

The newspaper says the Washington-based retailer is building its first warehouse in France and envisions opening as many as 15 stores in that nation over the next 10 years. But whether Costco will succeed in attracting the French consumer is an important question.

Read more by clicking here.

Seattle -- Amazon continues to expand its already formidable fulfillment center.

The online giant plans to open a nearly 500,000-sq.-ft. center in Joliet, Illinois. The site, which will create 1,000 full-time jobs when it opens, is the company’s first in the state.

New York -- Chick-fil-A is set to open its largest location to date in one of the nation’s busiest cities.

The quick-serve restaurant chain will open its first freestanding location in New York City, at the corner of West 37th Street and 6th Avenue in the Garment District, on Oct. 3. The three-story, 5,000-sq.-ft. restaurant will be Chick-fil-A's largest in the country and will be independently owned and operated by local resident Oscar Fittipaldi.

Amazon.com is planning to make its deliveries to Chicago area customers a lot faster and more efficient with the opening of a new distribution center.

The retailer plans to open a nearly 500,000-square-foot fulfillment center in Joliet, Ill. The site, which will create 1,000 full-time jobs when it opens, is the company’s first in the state.

Panama City -- Starbucks Coffee Company has entered its 15th Latin America market.

The coffee giant — together with Premium Restaurants of America, its long-term strategic licensing partner in Central America — has opened its first store in Panama, making it Starbucks 15th market in Latin America and 67th worldwide.