Real Estate

Indianapolis -- Real estate giant Simon on Thursday announced 'Simon Launch,' a retail startup competition aimed at discovering, investing in, and accelerating the top startups in the retail industry. Simon will co-invest in the competition's winners through its recently formed venture capital arm — Simon Venture Group — in collaboration with Plug and Play,  a global investor and technology accelerator that specializes in growing tech startups. Simon will also become an Anchor Member of Plug and Play's Retail Accelerator program.

New York -- Lululemon Athletica signed leases to open two new stores in the Soho section of downtown Manhattan, including its first-ever freestanding store for men, The Real Deal reported.

The men’s store will be located at 127 Prince Street. The women’s store will take space at 125 Prince Street.

Lululemon is on track to open some 45 locations this year.

Lancaster, Pa. -- Auntie Anne’s Pretzels, the 1, 600-unit global franchise, has entered into a partnership with Meijer. In August, Auntie Anne’s opened its first Meijer franchise location, in Fort Wayne, Indiana.
 
Auntie Anne’s will continue to build its partnership with the Grand Rapids, Mich.-based retailer with two stores currently in the pipeline. The first is slated to also open in Fort Wayne later this year, with an additional location planned for Michigan in 2015.
 

In a time of evolution and change, when buzz terms like right-sizing and asset management dominate retail real estate conversations, an unwavering focus on the tenant is more important than ever before. Chain Store Age talked with Jeff Kuchman, Principal/Director Tenant Brokerage, Mid-America Real Estate Corp., based in Oakbrook Terrace, Illinois, about the company’s tenant representation business and how it has continued to take center stage.

With word this week that Walmart will rebrand its small format Express stores under the Neighborhood Market banner, there will be plenty of interest in an upcoming presentation by the retailer’s vp of small formats.

Marc Lieberman, vp of small formats for Walmart U.S., is slated to speak at a Doing Business in Bentonville event on Thursday, October 9. at the John Q. Hammons Center in Rogers, Ark., from 7 a.m. to 9 a.m.

Washington, D.C. -- Site and market challenges, underwriting challenges, and operational challenges are the key factors that hamper retail development in some lower-income communities, according to a report from the Urban Land Institute.

The report, Retail in Underserved Communities, defines underserved communities as those that fall into one or more of four categories: urban locations lacking businesses, underserviced markets, locations without cultural offerings, and isolated rural or small towns.

Dublin, Calif. --  dd’s Discounts, a division of Ross Stores, Inc. will open a new store in Dallas on Sept. 27.  The store is located at Skillman Abrams Crossing in North Dallas. 

Including this new location, dd’s DISCOUNTS will operate approximately 150 locations in 13 states. The company is on schedule to complete its expansion plan to open approximately 20 locations in 2014.

Brooklyn, N.Y. -- Home furnishings retailer West Elm will make its Michigan debut when it opens a store in downtown Birmingham, on Oct. 2.

The 15,000-sq.-ft. plus store will feature a curated selection of products made in Michigan, part of West Elm’s Local initiative. The initiative, launched this year, taps into local entrepreneurship by empowering the teams in West Elm stores to find area makers and designers, building and nurturing a creative network that celebrates craftspeople and differentiates the brand with regional assortments.  

Atlanta -- Assurant Solutions and Nebraska Furniture Mart celebrated the 10th anniversary of their relationship by signing a multi-year contract extension recently, covering underwriting and administration of extended service contracts on appliances and electronics.

Minneapolis -- Target plans to open its sixth TargetExpress store, in the South Park area of San Diego, in July 2015.

At approximately 19,000 sq. ft., the store will be about 14% of the size of a standard Target store (135,000 sq, ft.). Similar to other TargetExpress locations, it will offer an edited assortment that is locally relevant.