Real Estate

New York  - New York, Chicago, Las Vegas, Miami and San Francisco rank at the top of the list, reporting the highest luxury sales in per square foot,  according to JLL’s “The New World of Retail Report.”  But while core metro areas ranked at the top of the list of preferred locations, several emerging retail markets like Dallas, Houston and Orlando possess the attributes for longer term success driven by ongoing population and income growth.  

Retailers looking to grow their physical store presence have an ally in Simon Property Group, as the retail real estate leader is poised to expand its portfolio of Premium Outlets properties by adding 6.4 million square feet and a total investment of $2.5 billion.

New York — Swedish fashion giant H&M’s higher-end brand COS will make its New York debut on Friday, in the SoHo section of Manhattan. It’s the brand’s second U.S. store—the first, in Los Angles, opened in October. 
  COS,  known for its clean lines and minimalist look, targets a more sophisticated customer than the more value-priced H&M.  The SoHo store has a upmarket feel and gallery-like look, enhanced by the use of glass and white-washed wood.
 

Laguna Hills, Calif. — Heslin Holdings, Inc., a privately owned commercial real estate investment and development firm, has purchased 1640 Rio Rancho Blvd., aretail property located in Rio Rancho, a city within the major metropolitanregion of Albuquerque, N.M. The firm will redevelop and re-tenant the property as part of a value-add investment strategy. Additionally, the firm has announced plans to invest up to $100 million in commercial properties in 2015.

Atlanta - Avison Young has completed the $15 million sale of Brannon Crossing, an upscale shopping center with 60,780 sq. ft. of leasable space located at 405-435 Peachtree Parkway in Cumming, Georgia, just outside of Atlanta. The transaction comes on the heels of the firm’s recent disposition of the 27,057-sq.-ft. Lindbergh Crossing Shopping Center in Atlanta for $7.06 million.

Houston - Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced that it has negotiated five Chipotle leases in Texas.    Jason Baker negotiated the leasing of the five Chipotle locations, ranging in size from just over 2,000 sq. ft. to 3,000 sq. ft. with a variety of different brokers.  

Minneapolis –  While some retailers, including Wal-Mart Stores, are ramping up their store presence in China,  Best Buy Co. is pulling up stakes. The consumer electronics chain has entered into a definitive agreement for the sale of its Five Star business to the Jiayuan Group, a China-based real estate firm.   

Atlanta - Avison Young has completed the $15 million sale of Brannon Crossing, an upscale shopping center with 60,780 sq. ft. of leasable space located at 405-435 Peachtree Parkway in Cumming, Georgia, just outside of Atlanta.    The transaction comes on the heels of the firm’s recent disposition of the 27,057-sq.-ft. Lindbergh Crossing Shopping Center in Atlanta for $7.06 million.