Real Estate

Saks to put best foot forward with new concept
New York -- Saks Fifth Avenue is going to open a freestanding store dedicated to a hot category.

The department store retailer plans to open a shoe store in Greenwich, Connecticut, in fall 2016, Women’s Wear Daily reported.

The store, whose name has not yet been revealed, will be located close to an existing Saks Fifth Avenue store, which will no longer sell shoes.

The new format will be modeled after Saks’ in-store 10022 shoe department, according to the report.
Baker Katz to remodel Houston retail property
Houston - Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, has acquired a 4.5-acre property with plans to renovate two existing buildings totaling 33,000-sq.-ft. in Atascocita, in the Greater Houston area.

The firm plans to renovate the two buildings that were constructed in 1984 to update the architecture and attract new retail tenants. Construction is slated to begin early next year. Jim Bayne with Investar Real Estate Services represented the seller for this transaction

Jones New York has been saved, sort of

After announcing in January that it would close all of its 127 retail locations, Jones New York is back -- at least in the Great White North.
Whole Foods' new 365 store concept to debut in Los Angeles

Austin, Texas -- Whole Foods Market on Wednesday posted disappointing third quarter earnings and revenue, but it also gave out some more details about its new, value-driven store concept.

The company revealed that it will debut the format, 365 by Whole Foods Market, in the second half of next year, with the first store opening in the Silver Lake section of Los Angles. It plans to open up to five 365 stores (all in the second half of next year), with the expectation of doubling the number of openings in 2017. Stores will average about 30,000 sq. ft.
Menswear retailer acquires all Jones New York stores in Canada; to expand

New York -- Jones New York stores won’t be shutting out the lights up north.

Canadian menswear retailer Grafton Fraser Inc. has acquired Jones New York’s 35 stores in Canada for an undisclosed amount. The Toronto-based company said it is planning "significant growth" in the number of Jones stores going forward.
Patagonia, New York City
J. Crew’s new Mercantile store concept … what’s all the fuss about?

New York -- J.Crew Group is not breaking any new ground with its latest retail format, Mercantile, which recently opened its first location, in Dallas.

The budget-friendly store, in The Shops at Park Lane, is very similar to J.Crew’s factory outlet concept, reports Business Insider, particularly in its pricing and merchandise mix.

For a look inside the new store, click here.
Whole Foods aims for more than 1,200 U.S. stores

Whole Foods Market Inc. says it is taking the right steps to position itself for the long term and sees demand for more than 1,200 stores in the United States despite reporting a lackluster increase in same store sales for the third quarter.

The health foods grocery retailer posted a same store sales increase of just 1.3% for third quarter ended July 5. Analysts had expected a 3% increase. The company did report earnings of 43 cents per share on $3.63 billion in revenue. Total sales increased 8% to a record $3.6 billion.
Ikea taking shape in the desert

Las Vegas -- Those familiar blue composite panels are going up in Las Vegas.

Ikea announced that steel framing has progressed far enough that installation of the iconic blue panels has begun on its future Las Vegas store. Installing the blue panels is a construction milestone that ensures the 351,000-sq.-ft. store will open summer 2016, and it reflects the unique architectural design for which Ikea stores are known worldwide.
Whole Foods to anchor new Atlanta development

Miami – A 70,000-sq-.ft., multi-level Whole Foods flagship will serve as retail anchor of a 38-story, 390-unit luxury apartment building that Miami-based The Related Group plans to build in midtown Atlanta.

Smallwood, Reynolds, Stewart, Stewart is the project architect and Atlanta designer Michael Habachy will create the interiors including a grand rooftop clubroom, demonstration kitchen, luxurious South Beach-themed 10th floor pool and more.

Atlanta-based Phillips Partnership will design the Whole Foods Market.
Lowe’s Canada names retail vet to oversee supply chain

Toronto -- Lowe's Canada announced the appointment of Gregor Stuart to the new position of VP, supply chain, effective July 27.

Gregor joins Lowe's Canada with over 25 years of supply chain and logistics experience in the retail industry. He has held various senior roles with prominent Canadian retailers including Loblaw Companies Limited, The Bargain! Shop, Hudson's Bay Company, Canadian Tire Corporation LTD and National Grocers Co.
Columbia Sportswear angling for new shoppers

Miami, Fla. -- Columbia Sportswear Company is expanding its new store concept.

The company has opened Performance Fishing Gear (PFG), in Miami’s The Falls. The 5,654 sq.-ft. store features the latest and greatest from the popular collection, along with an interactive knot-tying station and digital design elements.