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Real Estate

  • Saks’ NYC flagship valued at $3.7 billion—more than Hudson’s paid for entire company

    New York - It appears that Hudson’s Bay Co. got itself quite a deal when it purchased Saks Fifth Avenue in 2013 for the sum of $2.9 billion, including debt. Saks’s signature  Fifth Avenue flagship has recently been appraised at an whopping $3.65 billion—significantly more than Hudson’s Bay paid for the entire chain.  As much as anything, however, the appraisal reflects the strength of Manhattan’s retail real estate market.

  • The Container Store and more opening stores at Westchester’s Ridge Hill

    Yonkers, New York - Forest City Ratner Companies, owner and developer of Westchester’s Ridge Hill in Yonkers, New York, announced that The Container Store will occupy 25,000 sq. ft. on Market Street across from The Whole Foods Market Yonkers.   

  • Walmart in huge solar project; 400 systems over four years

    BENTONVILLE, Ark. - Walmart is making a major investment in solar energy, with plans to install up to 400 new solar projects at stores and facilities across the nation during the next four years. The retailer has tapped two solar energy providers for the installations, SolarCity and SunEdison, following an RFP process.  

  • Aldi goes into high growth mode; will open 650 U.S. stores by end of 2018

    BATAVIA, Ill. - Deep-discount grocer Aldi is ramping up its U.S. expansion. The company plans to open 650 new stores across the country, including expanding to Southern California, bringing its total number of U.S. stores to nearly 2,000 by the end of 2018.   

  • Paster Enterprises rebrands to Paster Properties

    St. Paul, Minnesota - Shopping center developer and manager Paster Enterprises has rebranded to Paster Properties, and has debuted a new look and website. 

  • RPAI acquires Avondale Plaza

    Redmond, Washington - Retail Properties of America, Inc. announced the purchase of Avondale Plaza, a 39,000-sq.-ft. neighborhood shopping center in Redmond, Washington (Seattle MSA). The center is located on Avondale Road, and is anchored by PCC Natural Markets.   The purchase price was approximately $15 million.  

  • Nasty Gal makes its move from clicks to bricks

    LOS ANGELES - The wait is over:  Nasty Gal, the teen-fave online player with a cult following, has opened its first retail store, on Melrose Avenue in the heart of Hollywood, California.   "We've been having a dialogue with our gal for eight years this month and to celebrate that, we're taking the conversation offline," said  Sophia Amoruso, CEO and founder of Nasty Gal, and author of the best-selling #GIRLBOSS book.   

  • X Team International reports $746 million in 3Q transactional volume

    Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.   
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