Real Estate Roundup: November update
November had its fair share of retail real estate development news, tenant updates, property acquisitions and more.
Here are some of the biggest real estate news stories from the month (starting with the most recent).
- CoStar: Retail vacancy rates to rise in first half of 2026 Following positive demand and a slowdown in store closures during the third quarter of 2025, the near-term U.S. retail outlook includes a rise in vacancy rates through the first half of 2026, according to new data from CoStar, peaking under 4.4% in the latter half of the year. Though receding, store closures are expected to remain elevated over the coming quarters. Net absorption is forecast to average 3.8 million square feet per quarter in 2026, well below the prior five-year average of 9.8 million.
- Pyramid secures $193 million for a refresh of Crossgates Mall Syracuse-based Pyramid Management Group has secured a five-year, $193 million financing package for the 1.7 million-sq.-ft. Crossgates Mall in Albany, N.Y., along with another $14 million package for upgrades on the adjacent Crossgate Commons open-air center. Recent additions to the mall include REI Co-Op, Crunch Fitness, and Primark. Ashley Furniture is set to open at Crossgates in 2026.
- CBRE hires leasing executive in Charlotte CBRE has announced that it has hired Darrell Palasciano, a veteran retail leasing and development advisor with more than two decades of experience, as a senior VP of its Retail Services group. He will lead CBRE’s retail team in Charlotte, collaborating with owners, retailers, and other stakeholders to develop tailored strategies that support clients throughout the retail landscape.
- Dick’s Sporting Goods to close some Foot Locker stores; lifts full-year guidance Following its acquisition of the footwear retailer, the sporting goods giant said that it is reviewing Foot Locker operations, which will include some store closures. As of Nov. 1, there were 2,593 stores across the Foot Locker businesses. Dick’s did not say how many stores would close or whether the review would include layoffs.
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- T&T Supermarket grows California expansion plans Canada’s largest Asian grocery chain will open a 52,000-sq.-ft. store in Millbrae, Calif. at Friendship Plaza in winter 2026. Located in the southern portion of the San Francisco Peninsula, the store will serve several communities in the Bay Area. Looking ahead to 2026, T&T has several California stores underway including in San Jose, San Francisco, Irvine and Chino Hills.
- Figs opens new physical location in NYC A popular healthcare apparel brand has opened its third brick-and-mortar location. Figs opened its newest store, which the brand calls Community Hubs, in New York City’s Upper East Side on Nov. 15. Figs says the new store is designed to provide shoppers with an immersive experience, including a Color Clinic and a Customization Station.
- Bombas teams with Leap, Shopify and Simon for brick-and-mortar expansion Apparel brand Bombas has opened its third-ever retail location, at The Domain in Austin, Texas. The opening follows the October debut of the brand’s first-ever stores, at Town Center in Boca Raton, Fla., and New York City. Bombas’ expansion in Texas and Florida leverages Leap's retail platform that integrates with Shopify and utilizes premium retail locations in Simon’s portfolio. The collaboration is designed to enable growing brands such as Bombas to establish physical retail spaces in key markets while minimizing traditional barriers that have long stood between the brands and premium physical retail.
- Simon debuts Simon+ omnichannel loyalty program Simon Property Group has announced the launch of Simon+, a new loyalty program that rewards members with cash back, points and perks for shopping nationwide at Simon properties and online at ShopSimon.com or on the ShopSimon app. Members of Simon+ can access exclusive offers, receive cash back and points for qualifying in-store and online purchases and unlock curated rewards – including incentives from participating retailers, perks like valet parking, Santa photos during the holidays and discounts on ShopSimon.com.
- JLL names new lifestyle property management president The real estate services giant has named Paul Chase as the president of its lifestyle property management division. JLL says the move aligns its “comprehensive expertise and resources” to provide value to the rapidly expanding mixed-use sector. Prior to Chase’s new role, he was a managing director for JLL’s retail property management’s national agency leasing team for more than two and a half years.
- WSR acquires Texas center adjacent to a World Cup team base camp World Cup Plaza, a restaurant-packed center in Texas that sits next to what will serve as an official World Cup Team Base Camp, has a new owner. Whitestone REIT has acquired the suitably well-named center, which serves as a prime dining destination for residents and workers at Frisco Square, a 147-acre mixed-use development with 1.5 million sq. ft. of office space and 1,400 apartments.
- CardVault by Tom Brady to open at Mall of America A sports card and memorabilia retailer backed by a football legend has touched down at America’s largest retail and entertainment center. CardVault by Tom Brady opened its new 1,700-sq.-ft. location at Mall of America in Bloomington, Minn. on Nov. 16. The new store marks the ninth for the brand, following recent openings in Dallas and New York City.
- Paris Baguette reaches 500-plus stores in development The bakery/cafe chain says that year-to-date, it has awarded over 225 new franchise agreements, executed over 65 new leases, and opened nearly 70 new locations, including its 250th North American location in Frederick, Md. The new agreements add to Paris Baguette’s more than 500 stores in development.
