Real Estate

“Now Trending” is an exclusive online series to chainstoreage.com, featuring trending topics that impact the retail real estate landscape.

The narrative is a familiar one: the scourge of online sales, encroaching ominously on brick-and-mortar market share, continues to siphon sales and transform the retail industry into an increasingly virtual landscape. Over the last few years, nearly every retail sales drop or unexpectedly poor performance has been laid at the feet of the Internet.

Baker Katz announced that the 90,000 sq. ft. multi-tenant center redevelopment project in Port Arthur, Texas is complete with the opening of PetSmart.

The former Sutherlands Hardware was transformed into a multi-tenant retail center with the addition of national anchor tenants, including Hobby Lobby, PetSmart and Party City. Chipotle, Firehouse Subs and Gulfside Dental, are scheduled to open by early 2016, will occupy a 7,000 sq. ft. building in the foreground of the project.

Sam Edelman continues to expand its West Coast retail presence.

The footwear brand turned lifestyle retailer opened a 2,896- sq.-ft. store Westfield Valley Fair Mall in Santa Clara, Calif. The new location is the second in California, and the largest of all Sam Edelman stores, including those planned to open in the next year.

Designed by Dagnell Folger of Architecture + Information, the store stays true to the Sam Edelman aesthetic with a mix of materials that includes reclaimed wood and raw concrete with rose-colored brass and black leather.

Mid-America Real Estate announced three new retail leases recently signed.

New Bohemi signed a lease for 4,209 sq. ft. at Eagan Towne Centre located in Eagan, Minnesota off of Interstate 35. The 153,781 sq. ft. center is anchored by Cub Foods, Big Lots and Dollar Tree.

Title Boxing Club signed a lease for 3,495 sq. ft. at 55th and Lyndale located in Minneapolis. The 4,736 sq. ft. center is shadow-anchored by Walgreens, Midas, Enterprise and Kowalski’s.

Saks Fifth Avenue Off 5th is making progress in its plans to open up to 25 locations across Canada by 2018.

The retailer announced three new locations in Canada: Toronto Premium Outlets, Halton Hills, Ontario; Rideau Street, Ottawa, Ontario; and Premium Outlets Montreal, Mirabel, Quebec City.

X Team International announced that Mountain West Retail and Investment and Newmark Grubb ACRES completed sales of two grocery-anchored properties same-day.

Canyon Center, a 51,914-sq.-ft. property in Sandy, Utah, is anchored by Smith’s and Shopko; the seller was Dee’s Inc., a third generation, family-owned real estate company, and the buyer was Pacific Castle, a Southern California-based institutional investor.

EDENS announced it acquired Casa Linda Plaza, one of the oldest shopping centers in the Dallas, Texas. The 323,000 sq. ft. center, was first opened in the late 1940s.

Casa Linda Plaza is located five miles northeast of downtown, situated on three of the four corners at the intersection of Buckner Boulevard and Garland Road. The center is anchored by Albertson's and Petco, as well as, mix of local and national retailers including Pie Wei, Torchy's Tacos, El Fenix Restaurant, Highland Park Cafeteria, and Elliott's Hardware to name a few.

The 45-acre Assembly Row in Boston breaks almost all the rules for the traditional model for outlet centers. Just three miles from downtown Boston, Assembly Row is an urban-style mixed-use center with a wide range of outlet retail options alongside entertainment components like LEGOLAND Discovery Center, AMC Theatres and over a dozen restaurants from Legal Sea Foods to Vancouver, B.C.-based Earls Kitchen + Bar.