REAL ESTATE

Starbucks to transform U.S. store portfolio and close some 400 locations
Starbucks Corp. will transform its U.S. stores — and shutter up to 400 locations — as it focuses on digital integration and convenience to meet “shifting customer behaviors.”
Simon terminates $3.6 billion Taubman takeover; files suit against company
The nation’s largest mall operator has called off its merger agreement with — and filed suit against — a rival, citing fallout from the COVID-19 pandemic.

Former Sephora CEO: Pandemic is making retail do what it should have done years ago

In 2020’s first quarter, Sephora threatened to close the 600 shops it operates inside J.C. Penney stores before coming to an agreement to keep them open.
Partnership brings theme park thinking to socially distancing retail queues

Two companies have teamed up to help retailers reimagine the customer queue experience as retailers limit store capacity to ensure social distancing.
Namdar acquires Connecticut mall, its seventh this year

As American malls begin a return to operations in a revised retail environment, Namdar Realty Group pursues its standard strategic mission of snapping up viable malls in B and C markets.
Parent company of Kay’s Jewelers, Zales, Jared to close about 400 stores this year

The world’s largest retailer of diamond jewelry is downsizing its store portfolio as it accelerates its emphasis on e-commerce.
Report: Amazon plans fulfillment center in Boston

Amazon will reportedly redevelop a 96,000-sq.-ft. facility in Boston into a last-mile delivery hub.
Best Buy expects to have 800 stores open by June 15 — with no appointment needed

Best Buy Corp. is dropping the shop-by-appointment model it put in place in its first wave of store reopenings.
Report: 20,000-plus stores will close in 2020, mostly in malls

A new report from Coresight Research predicts that 20,000 to 25,000 stores will close in the United States this year.
5Qs for Greg Maloney about retail’s rebound

In its report focusing on 2020’s historic first quarter, JLL observed that retail and real estate were among the industries hardest hit by COVID-19.