Real Estate

Redding, Calif. -- Rouse Properties announced it has significantly improved key operating metrics at Mt. Shasta Mall located in Redding, California, through execution of its leasing strategy with prominent national and regional retailers, as well cosmetic enhancements to the interior and exterior of the mall.

St. Petersburg, Fla. -- The Sembler Company added 420,000 sq. ft. of new acquisitions to its portfolio in 2015, in addition to breaking ground on three new shopping centers and inking deals for three more – all while maintaining more than 95% portfolio occupancy.

Mahopac, N.Y. -- Heidenberg Properties announced The Stop & Shop Supermarket Company has executed a lease to occupy 54,000 sq. ft. at Lake Plaza Shopping Center in Mahopac, New York.

The new Stop & Shop will be built from the ground up, replacing the existing 24,000 sq. ft. Key Food and the 7,800 sq. ft. CVS. This redevelopment will be more than 25,000 sq. ft. larger than the two existing stores, expanding Lake Plaza Shopping Center from 141,000 to over 166,000 sq. ft.

Nordstrom continues to expand its off-price format, with plans to open a Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-sq.-ft. store, leased from Seritage Growth Properties is scheduled to open in fall 2016.

Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-sq.-ft. center is located south of downtown Boston and near main highways including I-93, I-95 and Route 3.

Kansas City, Mo. -- Taubman Centers and The Macerich Company announced an agreement to purchase Country Club Plaza located in Kansas City, Missouri, from Highwoods Properties. Taubman and Macerich will each have a 50% interest in the center, which will be jointly managed by both companies. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Concurrent with or shortly after closing, a long-term, fixed-rate loan for 50%-60% of the purchase price is expected to be placed on the asset.

RANDOM NOTES: The North Face puts its passion for adventure and the great outdoors front and center in its new flagship in London. Designed to inspire customers to explore the world, the 4,300-sq.-ft. store features skylights, live greenery, tree trunks that extend through the ceiling windows, and such tech enhancements as a virtual reality experience that takes viewers on a journey through Nepal. Digital screens (“sky windows”) set in the ceiling have imagery that reflects outside weather conditions.

Westfield Corporation established Westfield Labs in 2013 with the purpose of innovating the retail environment. And this year the company did just that with the opening of BESPOKE at Westfield San Francisco Centre. The 37,000-sq.-ft. space incorporates co-working, event and technology demo spaces all under one dome. With an eye for retail, and a heart for tech, Westfield wanted to create a place where fashion runway shows and hackathons could happen side by side.

Nintendo World in Rockefeller Plaza in New York City is getting a big upgrade.

The two-level store, which opened in 2005, will temporarily close on Jan. 10, and then reopen on Feb. 19, with a new look and a new feel. The overhaul will include an updated interior design, new demo units for Wii U and Nintendo 3DS, a 15-ft. gaming screen and more fun elements.

In addition, a large bronze coin installed at the store entrance will display the store’s tagline: “Where everyone comes to play.”