Real Estate

Philadelphia - Five Below is entering the Florida market with the opening of nine stores on June 12. These locations, which will bring the fast-growing retailer’s store count to 400, and are part of a total 70 new stores it plans to open in 2015.

“Entering the state of Florida, our 25th state and opening our first stores in Jacksonville, Orlando and Tampa, is very exciting as we continue to grow our footprint across the country," said Joel Anderson, CEO of Five Below.

Seattle -- Nordstrom announced plans to open a full-line store in a new open-air retail promenade to be built by Caruso Affiliated, in Carlsbad, California.

The 124,000-sq.-ft. store is scheduled to open fall 2018 and will be the fifth Nordstrom full-line store in the greater San Diego area. The company opened its first Nordstrom in San Diego at Fashion Valley in 1981.

San Francisco -- Volta Industries is launching a network of more than 100 free electric car charging stations across five cities. Participating retailers include Macy’s and Whole Foods.

Volta first began in Honolulu by offering free electric car charging services underwritten by local brands. Since then, Volta has deployed initial charging infrastructure in high-volume, retail locations in five major cities, including the San Francisco Bay area, the Los Angeles metropolitan area, San Diego, Phoenix, and Honolulu.

Toronto - Sears Canada Inc. has closed a transaction to sell and leaseback three properties to Concord Pacific Group of Companies. The transaction, originally announced on March 11, 2015, has closed for total proceeds of $140 million.

Indianapolis – Simon is expanding the Sawgrass Mills value, outlet and entertainment center in Sunrise, Florida by adding a full-price component, Town Center at Sawgrass. Town Center at Sawgrass will be accessible from both Flamingo and Sunrise boulevards and will be flanked by four new sit-down restaurants and a new parking deck able to accommodate 2,000 vehicles.

New York -- Saks Fifth Avenue Off 5th will open a store at Christiana Fashion Center in Christiana, Delaware, in October. The 32,000 –sq.-ft. store will be the off-price retailer’s first in the state of Delaware.

Hoffman Estates, Ill. – Sears Holding Group Inc. has filed a $1.57 billion subscription rights offering with the SEC for its real estate investment trust (REIT) known as Seritage Growth Properties. The offering would give Sears shareholders the right to buy up to 53.3 million shares of the REIT at a share price of $29.58.

Seritage also plans to sell 9.5 million class C non-voting shares to Fairholme Capital Management LLC, Sears’ second-largest shareholder, at the same price. This would give Fairholme a roughly 12% stake in Seritage.

New York -- Amazon.com is going big in Texas with the announcement that it will open its fourth fulfillment center in the state.

The new 500,000-sq.-ft., which is currently under construction, will be located at the northeast corner of Interstate 45 and Interstate 20 in Dallas and will bring about 500 new jobs to the area when the facility opens early in 2016. It will process smaller items, such as books, electronics and consumer goods.