Real Estate

Tampa, Fla. — RMC Property Group has announced plans to redevelop the Publix-anchored Indian Rocks Shopping Center in Largo, Fla. Bealls Outlet and Dollar Tree also serve as co-anchors at the center.

Publix recently signed a new lease and plans to completely redevelop a 45,000-sq.-ft. store. The existing Publix closed in December 2013. Plans call for the redeveloped store to open this fall.

Minneapolis – The Tile Shop has opened its first retail store in Oklahoma City. The new 19,100 square foot Oklahoma City location is The Tile Shop’s second store in Oklahoma.

The company recently opened a new store in Tulsa.

New York — Faith Hope Consolo, chairman, and Joseph A. Aquino, executive VP of Douglas Elliman’s Retail Group, have arranged a third Manhattan location for Roundabout, a luxury consignment and resale retailer.

The new location between 82nd and 83rd Streets is also the brand’s second Madison Avenue store.

New York -- MPI — Mall Properties, Inc., a private owner, developer and operator of commercial real estate — has changed its name to Olshan Properties.

Cincinnati -- Macy’s on Wednesday said that it plans to close five underperforming stores in early spring 2014 and cut 2,500 jobs in “organizational changes” to sustain its profitability. The cost-reduction initiatives are expected to save the retailer about $100 million annually, beginning in 2014.

Los Angeles — The retail availability rate fell 70 basis points in 2013, reaching 12% and reflecting continued net absorption gains, according to a report from CBRE. The rate fell 30 basis points in the fourth quarter, which matches the momentum of the first half of 2013 after a flat third quarter.

While we wait for all of the official numbers to come in from the 2013 holiday shopping season — a topic I’ll address in a future column — I thought this might be a good time to expand on one of the points I made about retail downsizing in my 2014 forecast piece.

An 18,000-sq.-ft. Hofbrauhaus restaurant has broken ground at Grandview Yard in Grandview Heights, Ohio, according to Nationwide Realty Investors, the developer of the $500 million mixed-use project. Hofbrauhaus Columbus will resemble the legendary 420-year-old Hofbrauhaus in Munich, Germany. The restaurant will include a large bier hall for live entertainment, an old world German-style dining room and an outdoor bier garden.