Real Estate

Ikea’s U.S. expansion to bring it to another new market

Ikea is looking to open its first store in the state of Indiana.

The home furnishings giant is submitting plans to the City of Fishers, Indiana, to open a 296,000-sq.-ft. store 15 miles northwest of downtown Indianapolis.

Pending approvals, construction of the new Ikea could begin as early as summer 2016, with an opening in fall 2017.

Fort Lauderdale, Fla. -- EDENS adds seven new retailers to its Union Planters Plaza located in Fort Lauderdale, Florida. These openings follow the center's complete redevelopment which included the addition of a community green space.

The Seattle Times is reporting that, according to court documents filed last week, Albertsons is currently bidding on 36 of 95 stores being sold by the now-bankrupt Haggen. Albertsons had previously sold 146 stores to Haggen as part of its acquisition of Safeway. [Seattle Times]

A new project has the possibility of positioning Albertsons for greater growth as the company aims to expand by buying back some of the stores it unloaded last year as a result of a deal with Safeway.

Albertsons has announced it has completed a $4.8 million renovation of the company's Culinary Kitchens & Technical Center in California. The project, which was in development before the Albertsons-Safeway merger was announced, came to fruition this month in a 33,000-square-foot facility in Dublin, Calif., near the company's Pleasanton corporate campus.

Germantown, Tenn. -- Trademark Property Co. announced Lily Rain will open a 1,600 sq. ft. store at Saddle Creek, in Germantown, Tennessee. The store will be Lily Rain’s first Tennessee location and will open in spring 2016 next to Michael Kors.

Online retail sales continue to increase – both in absolute terms and as a percentage of total retail sales. The fact remains, however, that online commerce takes place in what is essentially a one-dimensional transactional venue.

Online retail sales continue to increase – both in absolute terms and as a percentage of total retail sales. The fact remains, however, that online commerce takes place in what is essentially a one-dimensional transactional venue.

Paster Properties, a developer and manager of retail projects in Minnesota, and Bader Development, a multi-family property developer and manager, have partnered to develop a six-story, 155,000-sq.-ft., mixed-use redevelopment project in Minnetonka, Minnesota.