Real Estate

CONSHOHOCKEN, Pa. - Ikea hasa proposed plans for a possible store in the city of Memphis, Tennessee that could increase the Swedish retailer’s presence in the Southeastern United States as its first store in the state.    The potential store could open as early as fall 2016 and is contingent upon receiving all governmental approvals.  

Ridgefield, Conn. - Moviegoers are still enjoying the big-screen entertainment at the AMC Theaters in Levittown, New York, even as Schimenti Construction is renovating the ten-theater complex.  The company’s first project with AMC, it will be completed in January 2015, in just 95 calendar days from start to finish.  

Canton, Mass. – Dunkin’ Donuts opened six new restaurants and remodeled one location with existing franchise partners during the last several weeks in  the Miami-Fort Lauderdale market. Currently, there are more than 150 Dunkin' Donuts restaurants located throughout the area.    In total, there are more than Dunkin’ Donuts 150 restaurants in the Miami-Fort Lauderdale market.

Phoenix – PetSmart Inc. has agreed to be purchased for about $8.7 billion by a consortium of buyers led by private equity firm B.C. Partners and also including pension fund manager La Caisse de dépôt et placement du Québec and private equity firm StepStone. The total figure represents an acquisition price of $83 per share, a 39% premium over PetSmart’s closing price on July 2, 2014.  

New York City - The International Council of Shopping Centers set new attendance records at its New York National Deal Making Conference, moved for the first time to the Javits Convention Center, held December 8 and 9, and keynoted by Donald Trump. The two-day event at the new location nearly doubled the size of the space from prior years, and drew more than 400 exhibiting companies and 9,600 attendees, representing a new attendance record and a 26% increase compared to the 2013 event.  

  New York - Online marketer Rent the Runway has signed a lease to open a store in Chicago. It will be the third freestanding store for the company, with one in New York City, and one in Washington, D.C. The company also operates a shop inside the Cosmopolitan Hotel and Casino in Las Vegas.   Rent the Runway  rents designer dresses for four days or eight days. Prices range from $30 to $450 for four-day rentals, depending on the dress. It also rents jewelry, handbags and other accessories. 

Atlanta - Hooters of America is partnering with Forum Analytics for a customized real estate planning and market-optimization solution. The collaboration will allow Hooters real estate operations make real-time, data-driven decisions by allowing users to share market data and sales forecasts, as well as impact estimates and site packet materials via SIMMS Online, Forum’s proprietary mapping, reporting and analytic platform.   

Indianapolis – Simon  has broken ground on Tampa Premium Outlets in Wesley Chapel, Florida. Opening in October 2015, the multi-million dollar project will bring a diverse mix of more than 110 retailers with 441,000-sq.-ft. of leasable space. It will also include  a  a food pavilion with multiple dining options.