Real Estate Roundup: June update
June had its fair share of retail real estate development news, tenant updates, acquisitions, and more.
Here are some of the biggest real estate news stories from June (starting with the most recent).
- New role for closed Macy’s in Connecticut: Submarine production General Dynamics’ Electric Boat unit in Groton, Conn., which designs, builds, repairs, and modernizes nuclear submarines for the U.S. Navy has acquired the 121,000-sq.-ft. Macy’s location connected to the Crystal Mall on Route 85 in Waterford, Conn., 5.5 miles from Electric Boat's major shipyard. Some 700 Electric Boat employees are expected to work at the location that will provide space for submarine production, engineering, training, and laboratories.
- Simon acquires full interest in Miami’s Brickell City Centre Simon Property Group, which had owned a 25% non-managing interest in Miami’s Brickell City Centre, now has full control of the property after acquiring the rest in a half-billion-dollar deal with Swire, developer of the Brickell District. The 500,000-sq.-ft. open-air center first opened in 2016.
- WS Development acquires Grand Rapids lifestyle center Mixed-use developer WS Development and asset management firm Barings have announced the acquisition of Breton Village, a 200,000-sq.-ft. open-air lifestyle destination located in Grand Rapids. The acquisition of Breton Village marks WS Development’s fifth project in the Midwest.
- Placer.ai: Back-to-school traffic expected to be strong Certain categories are primed to perform better than others during the back-to-school push, according to a recent report from Placer.ai. Last year, sportswear & athleisure and footwear retailers saw the largest back to school visit jumps, followed by office supplies and traditional apparel (excluding off-price, department stores, and sportswear & athleisure). These segments all saw slight visit increases in May 2025 and are likely to continue seeing sizable traffic spikes for back-to-school season this year, according to the retail traffic firm.
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- Architectural studio focused on experiential excellence debuts in L.A. Well-known architects Curtis Scharfenaker and John Simones have joined with Los Angeles-based Nadel Architects to launch Third Space, a new architectural studio focused on innovative mixed-use projects that “foster connection, discovery, and lasting emotional impact,” according to Nadel’s press release. Third Space projects will focus on urban design and large-scale mixed use.
- Whitestone acquires its 10th Dallas-Fort Worth center The Houston-based company has purchased 5000 South Hulen, a 86,907-sq.-ft. open-air center that sits within one of Fort Worth’s strongest performing retail corridors. Just minutes from Interstate 20, it serves two of the most affluent neighborhoods in the entire trade area — Chisholm Trail Parkway and Mira Vista.
- The Pickle Pad accelerates nationwide growth plans Dallas-based The Pickle Pad has announced that it signed 12 franchise agreements in the first quarter of 2025, with nine locations currently in development. The brand is preparing for a major milestone later this year, as it will open three new venues in high-demand markets: Myrtle Beach, S.C., St. George, Utah, and Newport News, Va.
- JD Sports opens Las Vegas Boulevard flagship JD Sports opened a new flagship totaling nearly 29,000 sq. ft. on the Las Vegas Strip on June 14, which will offer guests a curated mix of products from sportswear and footwear brands including Nike, Jordan, New Balance, Adidas, On and Asics. The new store on Las Vegas Boulevard joins flagships in Chicago (State Street) and New York City (Times Square).
- Centennial takes over management of Connecticut, Kentucky malls The real estate owner and operator has been awarded the management and leasing contract for Trumbull Mall, Connecticut’s first enclosed shopping center located in the affluent Fairfield County. The week prior, Centennial announced that it would be taking over at Greenwood Mall in Bowling Green, Ky. Both properties are currently in receivership.
- Sam's Club, Carhartt to join Tempe Marketplace roster Tempe Marketplace, a 1.3 million sq.-ft. open-air retail destination, has announced a new slate of tenants including Sam’s Club, the first Carhartt store in the Phoenix area, Lovisa Jewelry, and Relive Med Spa, together occupying more than 150,000 sq. ft. of retail space. The property currently has more than 100 tenants.
