Real Estate

A trio of tenants opens as part of phase two of MarketStreet Lynnfield
Boston -- Co-developers WS Development and National Development announced the openings of the first three businesses in phase two of MarketStreet Lynnfield, located in Lynnfield, Massachusetts. Tuck’s Candy Factory opened in February , followed by Hanna Andersson and Gap, scheduled to open the week of March 9.

“We have had an incredible response from the community since we opened nearly 20 months ago,” said Nanci Horn, general manager of MarketStreet Lynnfield.
Caruso names senior exec over strategic alliances and entertainment
Los Angeles -- Caruso Affiliated announced the appointment of Steven Martin to senior VP, strategic alliances & entertainment. Martin will oversee client sponsorships, large-scale entertainment events, brand activations, and new business development across Caruso Affiliated’s portfolio. He will report to chief marketing and communications officer Judy Johnson.

DSW to open at Pembroke Mall

Virginia Beach, Va. -- DSW Shoe Warehouse will open a new store at Pembroke Mall in Virginia Beach, Virginia. The retailer will be taking 15,040 sq. ft. of an existing Sears store.

The lease negotiations were handled on behalf of the tenant by Divaris Real Estate, Inc.

DSW will open fourth quarter 2015 and will be joined by Nordstrom Rack and REI in 2016.
Mid-America Real Estate arranges sale of Fox River Commons

Grand Chute, Wis. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Fox River Commons located in Grand Chute, Wisconsin. The 78,977-sq.-ft. asset was purchased by Bloomfield Hills, Mich.-based Agree Realty Corporation for $12.2 million.

Fox River Commons is located at the northwest corner of Casaloma Drive and College Avenue in Grand Chute (Appleton MSA), and is anchored by Bed Bath & Beyond, Barnes & Noble, Old Navy and Dress Barn.
Aeropostale to close as many as 75 more stores

Aeropostale Inc. says it is considering closing as many as 75 additional stores despite reporting a smaller profit loss in the fourth quarter.

The company’s net loss narrowed to $13.5 million in the fourth quarter ended Jan. 31, down from $70.3 million a year earlier. Net sales fell 11.3% to $593.8 million. Comparable sales declined 9%. Aeropostale closed more than 180 stores over the three months that ended Jan. 31. It currently has about 850 stores in North America and another 239 licensed Aeropostale stores worldwide.
Express to open at least 30 outlet stores

Express is going full-steam ahead with its outlet-store strategy, with plans to open 30-plus stores in 2015. The retailer ended the year with 41 outlet stores in operation.

“Together they generated approximately $55 million of incremental revenue, far surpassing our initial estimate,” said Paul Dascoli, senior VP and CFO, Express, on the chain’s quarterly earnings call. Express is expanding its outlet store division both through new construction and conversions.
Tiger Direct (mostly) abandoning brick-and-mortar operations

Consumer electronics retailer Tiger Direct has decided that brick-and-mortar is overrated.

The retailer is closing all but three of its 34 physical stores in the U.S. and internationally in order to focus exclusively on e-commerce.

An IT products and solutions provider, the company has made the strategic decision to accelerate its business-to-business and public sector customer focus, but mostly via its website.
Express to open 30 outlet stores in 2015; division exceeding expectations

New York -- Express is going full-steam ahead with its outlet-store strategy, with plans to open 30-plus stores in 2015. The retailer ended the year with 41 outlet stores in operation.

“Together they generated approximately $55 million of incremental revenue, far surpassing our initial estimate,” said Paul Dascoli, senior VP and CFO, Express, on the chain’s quarterly earnings call.
Dollar General to open 730 stores in 2015 as it accelerates expansion

Goodlettsville, Tenn. -- Dollar General Corp. is not sitting back while rivals Family Dollar and Dollar Tree prepare to merge. Following its failed bid to acquire Family Dollar, Dollar General has accelerated its expansion plans for 2015. The discounter, which already has the retail industry’s most aggressive new store strategy said it will open 730 new stores and remodel 875 existing locations in 2015, translating into a 6% increase in total square footage. And looking ahead, Dollar General plans to grow its square footage by 7% in 2016.
First Martha Stewart Café opening in New York

New York - Martha Stewart Living Omnimedia is opening its first Martha Stewart Cafe, in the Starrett-Lehigh building, home to Martha Stewart Living Omnimedia's corporate headquarters. The cafe will offer handcrafted espresso beverages and teas.

The menu, personally curated by Martha Stewart, will serve hot beverages, cold-brew iced coffee, artisanal loose-leaf teas, and pastries. The cafe is partnering with Kobrick Coffee, a New York City-based and family-owned roaster, and Wei Bertram of Connecticut-based Arogya Tea,
Stein Mart growing same store sales, footprint

Off-price retailer Stein Mart is poised for expansion as stronger traffic in the holiday quarter helped the company post an increase in same store sales.
Simon eyes Macerich for potential acquisition

Indianapolis -- Simon Property Group has put out feelers to acquire The Macerich Company, confirmed by a letter from Simon chairman and CEO David Simon to Arthur Coppola, chairman and CEO of Macerich.

Macerich has not responded to the offer, although the letter from Simon references prior discussions that include a proposal by Simon to acquire all of the outstanding stock of Macerich for $91.00 per share in cash and Simon shares. The total value of the proposed transaction is approximately $22.4 billion.