Real Estate

Century 21 to open first non-Northeast location
Century 21, the coveted off-price store beloved by fashionistas in the Northeast, has announced that it will be heading south for its next location.

Century 21 will be opening an approximately 85,000-square-foot store – the first anywhere in the nation outside of the Northeast – at Sawgrass Mills in South Florida in the fall of 2016.
Pharmaca Integrative Pharmacy to open its 30th store
Boulder, Colo. -- Pharmaca Integrative Pharmacy will open its 30th store, in Los Altos, California, on May 2.

Part of the company’s aggressive strategy to expand throughout the Western region, the new store is its third location to open in 2015 and follows three store openings in 2014. Pharmaca has plans to open an additional location in Colorado mid- to late 2015.

CBL and Horizon start expansion of Outlet Shoppes of the Bluegrass

Chattanooga, Tenn. -- CBL & Associates Properties and Horizon Group Properties have begun construction on the second phase of The Outlet Shoppes of the Bluegrass, near Louisville, Kentucky.

The 53,400-sq.-ft. expansion is scheduled to open this November and will bring eight more retailers to the center including H&M, Abercrombie & Fitch, The Limited Outlet, and Johnny Rockets. The outlet shopping center, located off Interstate 64 between Louisville and Lexington, opened July 31, 2014.
Cabela's looks to open its eighth Canadian store

New York -- Cabela’s is looking to grow its Canadian operations with a new store in British Columbia.

Cabela’s could begin construction in Abbotsford, B.C., this year, and could open in fall 2016. The proposed store site is located at 1880 McCallum Road in the newly planned McCallum Junction development off Exit 90 of Trans-Canada Highway 1. McCallum Junction Properties Inc. is the developer.
Hamleys, Moscow

U.K. toy retailer Hamleys has opened Europe’s largest toy store, a 73,000-sq.-ft. location close to the Kremlin in Moscow. Designed by Fitch, the two-level space is heavy on interaction and is divided into nine themed areas that combine retail and entertainment.
Saks chief steps down after 15 months

The president of Saks Fifth Avenue has resigned after 15 months at the department store chain’s helm.

Saks parent company Hudson’s Bay Company announced that company veteran Marc Metrick, 41, has replaced Marigay McKee as president of Saks Fifth Avenue.
Cabela's to open 8th store in Canada

Cabela’s is growing its Canadian operations once again with a new store in British Columbia.

Cabela’s could begin construction in Abbotsford, B.C., this year, and could open in fall 2016. The proposed store site is located at 1880 McCallum Road in the newly planned McCallum Junction development off Exit 90 of Trans-Canada Highway 1. McCallum Junction Properties Inc. is the developer.
Ikea expands solar power at Stoughton, Mass., store

Stoughton, Mass. -- Ikea has gone live with the expanded solar energy array atop its store that opened nine years ago in Stoughton, Massachusetts. The 51,516-sq.-ft. solar panel addition consists of a 318-kW system built with 1,248 panels, and will produce 385,900 kWh more of electricity annually for the store. It sits atop a 58,575-sq.-ft. store extension completed last summer.
Gordon Bros., AccuVal-LiquiTec form new appraisal group

Boston - Gordon Brothers Group’s Valuation & Advisory Services Division and AccuVal-LiquiTec have entered into a merger to form Gordon Brothers-AccuVal. The new group will operate as a wholly owned subsidiary of Gordon Brothers Group.
Jamba refranchises 100 California stores

Emeryville, Calif. - Jamba, Inc. has entered into an asset purchase agreement with Vitaligent LLC to refranchise 100 company-owned restaurants in the San Francisco, Sacramento and San Diego markets. Under the terms of the agreement, Jamba will receive a purchase price of $36.0 million in cash.
Report: Private equity group may acquire Bass Pro Shops stake

Springfield, Mo. – Los Angeles-based private equity group Leonard Green & Partners is reportedly in talks to acquire a stake in specialty outdoor retailer Bass Pro Shops. According to the Wall Street Journal, Leonard Green may make an offer that would value the privately-held Bass Pro at between $4 billion and $5 billion, including debt.
Target to close its remaining Canadian stores by April 12

Minneapolis — Target Canada announced that it will complete its inventory liquidation efforts and close the last of its 133 Canadian retail stores to the public on April 12.