Real Estate

New York  - New York, Chicago, Las Vegas, Miami and San Francisco rank at the top of the list, reporting the highest luxury sales in per square foot,  according to JLL’s “The New World of Retail Report.”  But while core metro areas ranked at the top of the list of preferred locations, several emerging retail markets like Dallas, Houston and Orlando possess the attributes for longer term success driven by ongoing population and income growth.  

Simon Premium Outlets heads into 2015 with 6.4 million sq. ft. in development  New York - Simon Property Group is expanding its Premium Outlets portfolio with a worldwide development pipeline of 6.4 million square feet and a total investment of $2.5 billion.   

Fort Worth, Texas - Simon will partner with Cassco Development Co. to develop the first phase of retail on the Edwards Ranch in Fort Worth into an approximately 500,000-sq.-ft. shopping destination. The Shops at Clearfork will be anchored by Neiman Marcus and include 100 high-end specialty stores, a premium luxury theater, and distinctive restaurants.     

Tarrytown, New York - DLC Management Corporation announced its latest acquisition of 11 retail assets in New York, North Carolina, Arkansas and Tennessee totaling 2.58 million sq. ft., of which 1.73 million sq. ft. is owned property.   According to DLC, this acquisition is the largest in its history. The The properties include:  

• 2015 Walden Avenue, 26,500 sq. ft. – Cheektowaga, New York
• Batavia Commons, 49,431 sq. ft. – Batavia, New York

Los Angeles - The Ratkovich Company, with partners National Real Estate Advisors and Blue Vista Capital, announced that Macy's at The Bloc will receive a major upgrade to become a downtown Los Angeles flagship store. The partners will also bring San Francisco-based men's emporium Wingtip to The Bloc, along with a new retail gallery concept conceived in collaboration between CNTRLgroup and Otto Design Group.   

Tulsa, Oklahoma - Simon announced plans to bring Tulsa Premium Outlets to northeast Oklahoma. The project will be built in two phases at the intersection of US Highway 75 and West 61st Street in Tulsa. The first phase of the build out will be approximately 318,000 sq. ft. and an additional 82,000 sq. ft. will make up the second phase for a total of 400,000 sq. ft.  

Retailers looking to grow their physical store presence have an ally in Simon Property Group, as the retail real estate leader is poised to expand its portfolio of Premium Outlets properties by adding 6.4 million square feet and a total investment of $2.5 billion.

Laguna Hills, Calif. — Heslin Holdings, Inc., a privately owned commercial real estate investment and development firm, has purchased 1640 Rio Rancho Blvd., aretail property located in Rio Rancho, a city within the major metropolitanregion of Albuquerque, N.M. The firm will redevelop and re-tenant the property as part of a value-add investment strategy. Additionally, the firm has announced plans to invest up to $100 million in commercial properties in 2015.

New York — Swedish fashion giant H&M’s higher-end brand COS will make its New York debut on Friday, in the SoHo section of Manhattan. It’s the brand’s second U.S. store—the first, in Los Angles, opened in October. 
  COS,  known for its clean lines and minimalist look, targets a more sophisticated customer than the more value-priced H&M.  The SoHo store has a upmarket feel and gallery-like look, enhanced by the use of glass and white-washed wood.
 

Minneapolis –  While some retailers, including Wal-Mart Stores, are ramping up their store presence in China,  Best Buy Co. is pulling up stakes. The consumer electronics chain has entered into a definitive agreement for the sale of its Five Star business to the Jiayuan Group, a China-based real estate firm.