Real Estate

Aldi goes into high growth mode; will open 650 U.S. stores by end of 2018
BATAVIA, Ill. - Deep-discount grocer Aldi is ramping up its U.S. expansion. The company plans to open 650 new stores across the country, including expanding to Southern California, bringing its total number of U.S. stores to nearly 2,000 by the end of 2018.
Nasty Gal makes its move from clicks to bricks
LOS ANGELES - The wait is over: Nasty Gal, the teen-fave online player with a cult following, has opened its first retail store, on Melrose Avenue in the heart of Hollywood, California. "We've been having a dialogue with our gal for eight years this month and to celebrate that, we're taking the conversation offline," said Sophia Amoruso, CEO and founder of Nasty Gal, and author of the best-selling #GIRLBOSS book.

Abercrombie & Fitch to enter Mexico in 2015

New Albany, Ohio - Abercrombie & Fitch Co. has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement, the first in the company`s history, will encompass both the Abercrombie & Fitch and Hollister brands.
Walmart in huge solar project; 400 systems over four years

BENTONVILLE, Ark. - Walmart is making a major investment in solar energy, with plans to install up to 400 new solar projects at stores and facilities across the nation during the next four years. The retailer has tapped two solar energy providers for the installations, SolarCity and SunEdison, following an RFP process.
RPAI acquires Avondale Plaza

Redmond, Washington - Retail Properties of America, Inc. announced the purchase of Avondale Plaza, a 39,000-sq.-ft. neighborhood shopping center in Redmond, Washington (Seattle MSA). The center is located on Avondale Road, and is anchored by PCC Natural Markets. The purchase price was approximately $15 million.
Forever 21 to open at The Shops at SkyView Center

Flushing, New York - The Shops at Sky View Center announced that Forever 21 has signed a lease with plans to open at the Queens shopping destination this coming spring. The store, to be located on Level D across from Nordstrom Rack, will occupy a 10,093 sq. ft.
The Container Store and more opening stores at Westchester’s Ridge Hill

Yonkers, New York - Forest City Ratner Companies, owner and developer of Westchester’s Ridge Hill in Yonkers, New York, announced that The Container Store will occupy 25,000 sq. ft. on Market Street across from The Whole Foods Market Yonkers.
Paster Enterprises rebrands to Paster Properties

St. Paul, Minnesota - Shopping center developer and manager Paster Enterprises has rebranded to Paster Properties, and has debuted a new look and website.
X Team International reports $746 million in 3Q transactional volume

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.
Hibbett Sports on track for 1,000 stores

Hibbett Sports reported relatively flat third quarter same store sales, but the company achieved record new expansion and is prepared to surpass 1,000 units in 2015.

For the third quarter, Hibbett posted profits of $16.9 million, down from $17.3 million in the prior-year quarter. The decline was mainly due to markdowns related to slow selling and aged inventory, the company said.
Real estate report: Luxury retail is a high-growth category

Seattle - Colliers International released the highlights of its latest global retail report – examining 125 retail real estate markets in 50 countries – and found that luxury retail continues to show strong growth in the top global markets and prime cities in Asia.
Stein Mart swings to Q3 loss, plans 10-plus new stores

Jacksonville, Fla. – Increased selling, general and administrative (SG&A) expenses helped drive Stein Mart Inc. to a net loss of $1.2 million in the third quarter of fiscal 2014, compared to net income of $28,000 in the same quarter a year earlier. Despite this push into the red, Stein Mart plans to open open at least 10 new stores and relocate two stores in 2015, as well as close two stores.