Real Estate

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.

The retail industry is accustomed to weak same store sales at Sears and Kmart, but the magnitude of the decline the company experienced in the first quarter was large even by its standards.

Hoffman Estates, Ill. – A reduction in selling, general and administrative expenses helped Sears Holdings Corp. reduce its first quarter net loss even as its sales continued to slide. The results came in as the chain prepares for the launch of its real-estate investment trust this week to raise cash. Sears said it expects the REIT transaction to raise $2.6 billion.

Jewelry and accessories retailer Charming Charlie has opened its largest store yet, a three-level, 16,000-sq.-ft. flagship on Manhattan’s Fifth Avenue. Designed in partnership with Callison Architects, Seattle, the store features a two-story, 30-foot tall glass façade and 20-ft. tall double doors in the brand's signature vibrant pink lacquer.

EXETER, N.H. -- Bauer Hockey announced today that it will open its second retail store, in Bloomington, Minnesota. The Bloomington location is the second to be announced by Bauer Hockey, with the first-ever store expected to open in Burlington, Massachusetts, this summer.

The first of Macy’s new off price Backstage stores aren’t due to open until this fall, but already the retailer is adding more locations for an off price format heralded as a key growth initiative.

The nation’s largest department store retailer created a stir earlier this year when it disclosed plans to open its first four Backstage stores in the greater New York area. The two additional locations are also in close proximity to New York. The stores are about 30,000-sq.-ft. and are staffed by 30 to 45 employees.

New York -- Another online merchant has ventured into the physical space.  Diamond and fine jewelry retailer Blue Nile has opened its first freestanding store, at Roosevelt Field Mall, Garden City, New York.