REAL ESTATE

Nordstrom unveils updated store concept
Nordstrom opened the doors on Tuesday to its newest full-line store, one that includes new store design concepts and services.
New lease on life for Las Olas Boulevard
It was an urban retail real estate broker’s dream: five blocks of Main Street storefront — almost 250,000 sq. ft. of it — sandwiched between beachfront and commercial business district. That’s what the owners of most of five contiguous blocks on Fort Lauderdale’s Las Olas Boulevard plopped on the plate of Michael Comras.

Publix signs on as anchor at new Alabama center

Thanks to Wernher von Braun, who developed the Saturn V rocket in the Alabama town, Huntsville is known as the Rocket City. Now the appellation is being applied to its population.
Five Common—and Costly—Omnichannel Mistakes

Brick-and-mortar retailers collectively have staked their claim online, accounting for at least half of U.S. e-commerce sales. The trouble is, most of them are losing money at it.
Refinanced Boulder center opens with 90% occupancy

NewMark Merrill Mountain States this week issued a double-barreled press release: It closed on a $62 million refinancing of the Village at the Peaks and opened the Boulder-area center at close to 90% capacity. The $100 million, 442,000-sq.-ft. had been under development for five years in a public/private partnership between NewMark Merrill and the city of Longmont. New financing was provided by Allianz Real Estate of America.
Developers: New centers warrant new co-tenancy clauses

With department stores being replaced by gyms and office space, retail tenants who signed on for the traffic generated by traditional anchors are of the opinion that the co-tenancy clauses in their leases need restructuring. At a forum staged by Jones Lang LaSalle at its New York office yesterday, two noted mall developers agreed.
Art Van rounds out Illinois Power Center

Art Van Furniture will take over a 34,000-sq.-ft. space vacated by H.H. Gregg at Gurnee Town Center in Illinois, according to owner Retail Properties of America, Inc. The electronics chain filed for Chapter 11 bankruptcy protection earlier this year. Art Van will bring the center to 98% occupied, according to RPAI, joining DSW, Old Navy, Starbucks, Ross Dress for Less, Five Below, and Bath & Body Works at the center west of Waukegan.
Foo Fighters to headline opening of The Wharf in D.C.

Washington, D.C.’s biggest new development, as well as its first waterfront development in decades, will open in grand fashion on Oct, 12 with an appearance by the Foo Fighters.
Baton Rouge center recruits bloggers in re-brand

“Our belief is that retail and mixed-use places need to evolve or risk irrelevance,” said Trademark Property Co. CEO Terry Montesi, who’s putting that belief to the test at a mixed-use center in Baton Rouge, Louisiana.
Williams Sonoma to open specialty concept in New York

Williams Sonoma is expanding its new dedicated home furnishings store format.