Real Estate

As Target moves to reimagine the shopping experience for customers who visit its stores, the retailer has applied for two liquor licenses for a future store in Chicago.

USA Today reports that the company has applied for packaged goods and consumption on premises licenses.

The retailer may be trying to follow the lead of Kroger, Duane Reade and other retailers looking to expand their alcoholic offerings, which could pose operational challenges at these stores.

Toronto – Real estate transactions helped Sears Canada swing to a profit in the second quarter even as revenue and same-store sales decreased.

The retailer on Wednesday reported net earnings of $13.5 million, compared to a net loss of $21.3 million the same quarter a year earlier. The company, which has been working to turn around its business, also announced additional cost-cutting plans and real-estate sales.

Los Angeles – Forever 21, known for operating some truly large stores, is reportedly rethinking that strategy.

According to the Wall Street Journal, the specialty fast-fashion retailer is also in talks to obtain a $150 million load.

Orlando, Fla. -- Madison Marquette announced it has been selected to provide leasing services for Parc Central mixed-use development, located in Orlando, Florida. The development is slated for a first quarter 2016 groundbreaking.

Parc Central will consist of a 29-story high-rise, mixed-use tower featuring 215 luxury residential apartments with rooftop amenities, approximately 15,000 sq. ft. of ground floor retail space and a 30,000-sq.-ft. retail floor located above the parking deck.
 

New York -- Rebecca Minkoff has brought its “Store of the Future” concept to Los Angeles.  

St. Louis -- Build-A-Bear Workshop continues the transformation of its store experience — and business.

The specialty retailer on Tuesday debuted its updated store design at Mall of America, in Bloomington, Minnesota. Part of a company-wide brand refresh, the reformatted location was developed to increase productivity and optimize space while updating the brand’s overall brand look. New elements include:

• Sophisticated new logo, store set-up and color palette;

San Francisco -- Williams-Sonoma is spicing up its store format.

The retailer’s new store in Ponce City Market, Atlanta, features a direct pass-through to the latest dining venture by famed chef Jonathan Waxman, with the restaurant outfitted by Williams-Sonoma.

Mooresville, N.C. – Lowe’s Companies Inc. is making a big purchase that will enable it to build a big store on one of Hawaii’s biggest islands.

The retailer is purchasing an 11-acre property in Kahului, Hawaii for $18.7 million from A&B Properties Inc., a subsidiary of Alexander & Baldwin.

Lowe’s plans to build a 167,000-sq.-ft. store on the site, located on the island of Maui. The new store will be 16% larger than Lowe’s current store in Kahului, which it leases from a third party.