Real Estate

Ikea continues its commitment to renewable energy with the opening of its store in St. Louis.

The 380,000-sq.-ft. store, the Swedish company’s first in the state of Missouri and 41st in the United States, features the largest rooftop solar array in the state of Missouri.

It is also the first Ikea location in the United States that is lit entirely with LEDs, both inside and out. It is also the first to open with LED lighting for sale.

To date, Ikea has a renewable energy presence at 90% of its U.S. locations.

Bealls Inc., the 100-year-old privately held operator of over 530 stores, is expanding its retail footprint with a new specialty store format, Bunulu.

Focused on the coastal lifestyle and targeted at outdoor and youth-minded shoppers, the new concept has a more upmarket vibe than Bealls’ other banners. It premiered at Coconut Point Mall in Estero, Florida. Two additional locations — at St. Johns Town Center, Jacksonville, Florida, and The Garden Mall, Palm Beach, Florida — are set to open by the end of this year.

Location: Doral, Florida

Size: 600,000 sq. ft.

Owner: The Related Group, Related Development LLC, Shoma Homes

Key Tenants: Fresh Market, CinéBistro-Cobb Theatre, Kings Bowling

Other uses/components: 1,000 new luxury residences

Status: Under construction, set for completion Q4 2016

Location: Plymouth Meeting, Pennsylvania

Size: 948,000 sq. ft.

Owner: PREIT

Key Tenants: Whole Foods Market, Dave & Buster’s, Redstone American Grill, P.F. Chang’s, Benihana, California Pizza Kitchen, Zoes Kitchen, American Eagle Outfitters, Charming Charlie, Express, Gymboree, H&M, J.Crew Factory, Orvis

Gaithersburg, Md. -- Retail Properties of America, Inc. announced GreatGatherings a 16,825 sq. ft. store will join Downtown Crown located in Gaithersburg, Maryland. RPAI acquired Downtown Crown in January 2015 with a lease rate of 77.5%, the centers lease rate is now 88.7%.

Englewood Construction has started working on three new ground-up retail projects.

The national general contractor is building a Hobby Lobby in Beavercreek, Ohio; a PetSmart in Taylor, Michigan; and a Goodwill in Monroe, Connecticut.

Englewood recently broke ground on a 55,000-sq.-ft. ground-up Hobby Lobby store in Beavercreek, Ohio. Slated for completion by the end of January 2016, the project will use tilt-up construction of masonry embossed panels. Tulsa, Oklahoma-based Robert Michael Hughes is the project architect.

Nordstrom plans to relocate its Nordstrom Rack store from 280 Metro Center to the redeveloped Serramonte Center in Daly City, California.

The approximately 40,000-sq.ft. store is scheduled to open in fall 2017. The redeveloped property is owned by Equity One.

Nordstrom will join fellow anchors Target, JC Penney, Macy's and Dick's Sporting Goods. The new location is just across Highway 280 from the current Nordstrom Rack.