Real Estate

Seattle -- REI will enter two new states in the fall, opening a store at the new Christiana Fashion Center, in Christiana, Delware, and another at the new Mills Crossing, in West Des Moines, Iowa.

The outdoor gear and apparel retailer also plans to open a store in Virginia Beach, Virginia, at Pembroke Mall, in spring 2016.

New York -- The fast-growing Michael Kors has opened its largest and most comprehensive location to date, a three-story, 22,000-sq. ft. flagship in the Soho section of Manhattan. The store features the debut of the men’s collection in the brand’s own retail stores, with the first-ever in-store presentation of men’s shoes and and an entire floor dedicated to accessories, and the first dedicated Michael Kors shoe salon. Huge, floor-to-ceiling video screens, set on all three floors, help bring the products to life.

Livermore, Calif. -- Simon announced today that Livermore Premium Outlets, the Bay Area's premier outlet shopping center, will be rebranded and named San Francisco Premium Outlets in conjunction with its major expansion.

The 512,000-sq.-ft. center opened in 2012 and is currently undergoing a significant expansion to add 185,000 sq. ft. to be populated by leading designer brands, opening on August 13, 2015.

Chattanooga, Tenn. -- CBL & Associates Properties, Inc. announced the promotions of Andrew Cobb to senior VP and director of accounting, Stuart Smith to senior VP - planning/redevelopment, Jennifer Cope to VP - shared services, Jon Meshel to VP - development/redevelopment, and Ken Wittler to VP - development.

Andy Cobb joined CBL in June 2002, as VP - accounting. In February 2007, he was promoted to VP and director of accounting. Prior to joining CBL, Cobb was an audit manager for Arthur Andersen.

Santa Ana, Calif. -- As part of Westfield MainPlace’s redevelopment plan, the Santa Ana, California, center announced two new dining destinations: Lucille’s Smokehouse Bar-B-Que and Wokcano. Slated to debut late summer/early fall 2015, these announcements come on the heels of three recent restaurant openings: Panini Café (December 2014), Dog Haus and Blaze Pizza (both November 2014).

Atlanta -- JLL announced the expansion of its management platform with the addition of Brett Earp as the new Southeast and Florida property management lead. Based out of the firm’s Atlanta office, he will partner with Atlanta Retail Market Lead John Bemis and Florida Retail Market Lead John Lambert to maximize the firm’s clients’ property values. He will be responsible for increasing or maintaining their net operating income by developing and executing strategic operational efficiencies.

One of the interesting retail real estate trends I’ve been seeing pick up steam in the last couple of years is the willingness of many retailers to look beyond the traditional mall locations. Many are choosing locations on “hot streets,” bustling avenues within major communities that happen to be the retail hub, or in the downtown/village center area of the market.

Mississauga, Canada – Landlords holding the leases of Target Canada stores reportedly are requesting that Ontario Superior Court put Target Canada into full bankruptcy. According to the Toronto Globe & Mail, the move would remove control of liquidation of the company’s assets from Target and put it in the hands of a third-party trustee.

Chicago -- Famed British toy retailer Hamleys is coming across the pond. The 255-year old company, famous for has retained JLL to facilitate a multiple store roll-out throughout the United States.

New York -- Forever 21 opened a 36,000-sq.-ft. store on Manhattan’s Fifth Avenue, joining such other fast-fashion retailers already in the neighborhood as Uniqlo, H&M and TopShop.  

The four-level space houses all of retailer’s collections under one roof, including Forever 21 Men. The store is located in a building that formerly housed an H&M store, which closed in December when the retailer moved to a different location on Fifth and 48th Streets.