Real Estate

Boston – Online home furnishings retailer Wayfair Inc. launches its initial public offering (IPO) today. The online home furnishings retailer is offering 11 million shares of common stock at $29 per share, which is above Wall Street projections.

The share offering includes 10.5 million shares of Wayfair stock and 500,000 shares from selling stockholders. Wayfair will not receive any proceeds from the selling stockholder shares, meaning the company should raise about $304.5 million in the IPO.

San Francisco - Williams-Sonoma will reopen a retail store and cooking school in Sonoma, California, on Oct. 4, in the same location where the company opened its first store opened almost six decades ago. The timing also coincides with the 99th birthday of Chuck Williams, the company’s founder, on Oct. 2.

Dublin, Calif. - Ross Dress for Less will open two new stores in Hawaii on Oct. 10. The stores are located in Kukui Grove Center in Lihue, on the island of Kauai, and the Kahala Mall in Honolulu, on the island of Oahu.  

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

 

As part of its agenda to boost liquidity ahead of the highly contested holiday shopping season, Sears Holdings plans to sell most of its 51% stake in its struggling Sears Canada division to shareholders — a move that stands to raise as much as $380 million by November.

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Dublin, Calif. -- Ross Dress for Less will open a new store in Colorado on Oct. 11. The store is located in Prairie Center in the community of Brighton, eight miles northwest of Denver.

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

 

Fort Worth, Texas -- Trademark Property Co., a retail and mixed-use investor, developer and operator, has welcomed three national big box stores to Alliance Town Center. DSW (Designer Shoe Warehouse), Men’s Wearhouse and Sleep Experts have all opened at the 1 million-sq.-ft. outdoor shopping center in Fort Worth, Texas.

DSW is leasing 15,000-sq.-ft. at the shopping center. The new Men’s Wearhouse location totals 5,500-sq.-ft. and the new Sleep Experts store measures 4,500-sq.-ft.

Purchase, N.Y. -- National Realty & Development Corp. (NRDC) is leasing 49,480-sq.-ft. of new retail tenancies at Pohatcong Plaza in Phillipsburg, N.J. Marshalls/HomeGoods and Quaker Steak and Lube have joined the 562,000-sq.-ft. center.  

Phoenix -- Molly Busch has joined the Capital Markets group of commercial real estate firm CBRE Group Inc. in Phoenix. A senior associate, Busch will partner with VP Andrew Fosberg.

The duo focuses on investment sales with an emphasis in retail properties. Busch comes to CBRE from Grand Canyon University, where she was the director of marketing for athletics and fan development.

Washington, D.C. -- Madison Marquette Retail Services (MMRS), a national real estate development, leasing and management firm specializing in infill, mixed-use, community and specialty retail properties, has named Lori Coleman VP, management services, California. In her new role, Coleman will oversee the company’s entire California portfolio, which includes 4.8 million sq. ft. across 18 properties.