REAL ESTATE

New York -- Swedish fast-fashion powerhouse H&M is revving up its U.S. expansion. The retailer opened 40 stores in the United States in 2012, and hopes to open even more this year, according to a report in Women’s Wear Daily.

H&M, as previously reported, will open a 42,500-sq.-ft. flagship at 4 Times Square, in Manhattan, that will boost an enormous LED billboard signage display. The retailer will also open a store on Fifth Avenue at 48th Street that, at 57,000 sq.-ft., will be its largest in the world to date.

In open-air, context often trumps content

Expect no prophesying about the death of enclosed malls. The format is alive and well, and there are countless examples of thriving under-roof shopping centers around the country.

Still, there is no question that the open-air format has stolen mall thunder.

New York -- Herald Center, the giant 10-story, 250,000-sq.-ft. black glass retail and office property at the southwest corner of 34th Street and Broadway in Manhattan, is about to undergo a major transformation under long-time owner JEMB Realty. The property will be completely reclad to create a new leasing opportunity encompassing more than 50,000 sq. ft. of prime retail space at one of the most heavily trafficked, high-visibility corners in the world.

Pittsburgh -- Dick’s Sporting Goods will debut its Field & Stream concept this fall, opening the first store in Cranberry Township, Pa.

Named for the iconic brand that for more than 140 years has been synonymous with outdoor experiences, the Field & Stream store will carry outdoor equipment, accessories and services in hunting, fishing, archery, camping and more, and provide an array of related in-store services.

Houston -- Brixmor Property Group said that Petco will open a new 12,150-sq.-ft. store at Merchants Park, in Houston.

Brixmor, based in New York City, is the owner of Merchants Park.

Panama City Beach, Fla. -- Columbus, Ohio-based Casto said that its JV partners The St. Joe Co. and Strategic Retail Advisors, along with U.S. Bank, have closed on a $46 million construction loan that will finance The Pier Park North Shopping Center, a 360,000-sq.-ft. shopping center in Panama City Beach, Fla.

Knoxville, Tenn. -- CHM announced that it has broken ground on Knoxville’s first urban, vertical retail complex, University Commons.

The Publix- and Walmart-anchored shopping and dining center will cover 12+ acres, with 211,000 sq. ft. of retail space and parking. Besides the two anchors, an additional 40,000 sq. ft. will be dedicated to smaller retailers and service providers once the project is completed.

Miami Beach, Fla. -- Terranova Corp. announced that three new tenants will open at Shops at Marlins Park, a retail area at the entrance of the new Marlins Park in Miami’s Little Havana neighborhood.

Café Rubio Sports Bar & Restaurant, a Caribbean restaurant, has signed a 10-year, 3,200-sq.-ft. lease, with plans to open in mid-summer 2013. Subway has signed a 10-year lease for a 1,400-sq.-ft. restaurant also opening summer 2013.

Cigar shop 100 Fires will open a 625-sq.-ft. store in winter 2014.