Real Estate

McLean, Va. -- Macerich announced that VITA, the new, luxury 30-story residential tower at the mixed-use urban expansion for Tysons Corner in McLean, Virginia, has received the 2015 Award for Excellence from Delta Associates.

Ikea wants to open a second store in the Dallas-Fort Worth area.

The company is submitting plans to the City of Grand Prairie, Texas, for a 293,000-sq.-ft. store. It would be the Swedish company’s fourth location In Texas.

Pending approvals, construction of Ikea Grand Prairie could begin summer 2016, with an opening in fall 2017.

HRC Advisory’s annual CEO and CFO survey revealed a major disconnect between capital investments, retail growth and operating strategies.

Chain Store Age spoke with HRC Advisory CEO Antony Karabus about the survey.

What did you find most surprising about the survey results?

Washington, D.C. -- EDENS announced Huge, a full-service digital and design firm headquartered in Brooklyn, New York, with offices worldwide, will open a new office at Union Market in Washington, D.C. Union Market is a 45-acre district that is planned for over 7 million sq. ft. of space.

Shoe Carnival has picked a new executive for a key role in its omnichannel-oriented growth strategy which could involve accelerated expansion of a small format.

The retailer has named Jeff Fink as its senior vice president of real estate. Fink will oversee the Company’s store site selection and lease administration functions.

The Deals stores Dollar Tree acquired nearly a decade ago never turned into a meaningful growth vehicle for the company and soon the banner will disappear.

Dollar Tree said of the 222 Deals stores it operates, 217 will be converted to Dollar Tree stores and five others will become Family Dollar stores. Dollar Tree acquired Family Dollar earlier this year giving it a network of nearly 14,000 stores throughout the U.S. and Canada.

Detroit -- X Team International, an international alliance of retail real estate advisors, announced that partner, Stokas Bieri Real Estate has negotiated two 10-year leases for Great Gatherings in Virginia and Maryland.

Restoration Hardware has opened a new format that redefines the retail experience and has CEO Gary Friedman calling it the company’s finest work to date.

The retailer says its new brand,  RH Modern, aims to offer one of the most fully-integrated assortments of modern furnishings, lighting and décor under one brand in the world. The multi-channel business  debuts with its own 540-page magazine-catalog hybrid, a dedicated website, and a significant retail presence, including a standalone RH Modern store.