Real Estate

RCS Real Estate Advisors has begun the process of selling Hancock Fabrics' 185 leases to generate value for the estate.

The move, which comes following Hancocks' February bankruptcy announcement represents the next step in the recent retention of RCS by Hancock Fabrics, debtor-in-possession (DIP) that has been approved by the United States Bankruptcy Court for the District of Delaware.

Chattanooga, Tenn. -- CBL & Associates Properties announced that it has completed $151.5 million ($86.9 million at CBL's share) in dispositions in two separate transactions.

CBL and its 50/50 joint venture partner sold the Renaissance Center, a 363,000 sq. ft., community shopping center located in Durham, North Carolina.

Specialty retailer Petco will open seven new stores in April as part of its 2016 growth plan, which includes 20 new store openings year-to-date.

In addition to the seven new locations, the retailer is also expanding one location to accommodate growth in Swampscott, Massachusetts, and remodeling seven stores in San Antonio.

Howard Hughes Corp. has added a fast-growing Dutch fashion brand to its lineup for its Seaport District revitalization project in lower Manhattan.

The developer has signed a lease with Scotch & Soda to set up shop in the shopping area which, when completed, will encompass seven buildings on several city blocks totaling over 365,000 sq. ft., with a mix of dining, shopping, entertainment and cultural offerings.

Aldi is expanding its fledgling footprint in Southern California.

On Thursday, April 21, the grocer will open six stores in Los Angeles County, three in Orange County and one store in San Bernardino County.

The April openings are part of Aldi’s plan to open approximately 45 stores in Southern California by the end of 2016, eight of which opened last month.

Currently, Aldi operates nearly 1,500 U.S. stores in 33 states.

Starbucks will open its largest location in the world, a 20,000-sq.-ft. store, in one of Manhattan’s trendiest areas.

The coffee giant is bringing its new Roastery store format to the Meatpacking District, opening at 61 Ninth Ave., a new nine-story building that is currently under development. The building is close to Chelsea Market.

The rise of fast-fashion, changing fashion tastes and online commerce may be claiming another teen apparel retailer.

Pacific Sunwear of California Inc. is preparing to file for Chapter 11 bankruptcy, according to Bloomberg, which cited people with "knowledge of the situation.” The report said the filing could occur as early as next week.

Just five months after making its Manhattan debut with the opening of its largest restaurant to date, Chick-fil-A has opened a second outpost in the Big Apple.