Real Estate

Saks Fifth Avenue Off 5th will open a store at Newcity, the newly opened mixed-use development located in Chicago’s Lincoln Park neighborhood.

The 40,000-sq.-ft. store, which will be the seventh Off 5th location in Chicago, is scheduled to open in May 2016. The off-price retailer recently announced another spring 2016 store opening in Chicago, on State Street at the corner of State and Madison.

Walgreens may have to shutter as many as 3,000 stores in its bid to buy Rite Aid, or 65% of Rite Aid's store base, according to one real estate analyst in a Fortune story published Thursday, including 1,000 locations Walgreens is willing to jettison as part of any FTC negotiation and another 2,000 locations after the merger is complete.

Dunkin’ Donuts is expanding big time in Georgia.

The chain announced that 46 new restaurants will be developed throughout Georgia over the next several years, with six franchise groups.

The company also said remains on track for the development of 410 to 440 net new Dunkin' Donuts restaurants in the U.S. in 2015.

Currently, there are more than 150 Dunkin' Donuts restaurants located throughout Georgia.

Specialty athletic retailer City Sports never found its footing and, despite bringing in a veteran retailer to lead the 18-store operation, it has commenced going-out-of-business sales.

Gordon Brothers Group & Hilco Merchant Resources are managing the going-out-of-business process, which began Nov.6 at City Sports’ 18 stores in the Maryland, Massachusetts, New York, Pennsylvania, Virginia and Washington, D.C.

Another larger-than-life retail showcase is coming to the Big Apple.

Victoria’s Secret plans to open a 64,000-sq.-ft. store on the corner of Fifth Avenue and 51st Street. The space was formerly occupied by Forever 21, which moved out after just seven months of operation.

“It’s a very big deal from a brand standpoint,” Stuart Burgdoefer, CFO, L Brands, parent of Victoria’s Secret, said at the company’s annual investor conference.

Cincinnati -- Phillips Edison Grocery Center REIT II, Inc. expanded its portfolio in California, Wisconsin and Florida, with the acquisition of six grocery-anchored shopping centers. They include:

Moreno Marketplace in Moreno Valley, California

Target is taking steps to right-size its portfolio by closing 13 money-losing stores on Jan. 30, according to a report from the Minneapolis St. Paul Business Journal. The decision to close a Target store is not made lightly,” spokesperson Kristy Welker told the publication. “We typically decide to close a store after careful consideration of the long-term financial performance of a particular location.

Mega deals worth more than $1 billion drove the U.S. retail and consumer sector’s strong third quarter, according to PwC’s U.S. quarterly R&C Deals Insights report.

During the three-month period ending Sept. 30, 36 deals valued over $50 million were announced for the sector, with deal value up 64% in Q3, accounting for $46.6 billion, compared to $28.4 billion in Q2. Deal volume went up 6% from Q2, but down 36% from Q3 2014.