REAL ESTATE

Inland notches another Texas center
One of the most active acquirers in the retail real estate business has made its 292nd purchase in the great State of Texas. Inland Real Estate Acquisitions announced the purchase of Denton Village in the town of the same name, situated 40 miles north of Dallas. The North Dallas region has been a hotbed of job growth, housing starts, and new retail development.
Brand standards for a brave new retail world
Formula. Format. Familiarity. The retail recipe is tried and true, based on brand dress and standards developed over years and, often, decades. Standards meticulously define everything from the logo to the physical layout of stores. Storefronts, where the visual expression of the brand identity is most evident and most essential, is especially prescriptive. A Barnes & Noble in Miami looks the same as a Barnes & Noble in Minneapolis.

PREIT’s version of ‘That’s Entertainment’

Dining and entertainment square footage continues to replace that of department stores in PREIT’s mall portfolio. Last week the Philadelphia-based developer announced that it had signed leases to fill vacated Sears space at two of its properties. Five Below and an unnamed off-price furniture retailer will join Burlington in the former Sears at the Magnolia Mall in Florence, South Carolina.
Off-pricer remains bullish on store expansion

Ross Stores continues to build out its store footprint at an aggressive pace. The off-price retailer opened 21 Ross Dress for Less stores and seven dd's Discounts locations across 15 different states in June and July. The openings are part of the company's plans to add approximately 70 Ross and 20 dd's locations in 2017.
Phillips Edison acquires Ralph’s-anchored center

Chain Store Age’s “Fastest-Growing Acquirer” for 2016 continues to be hard at it in 2017. Phillips Edison has purchased Sierra Del Oro Towne Center in Corona, California, about midway between Los Angeles and Palm Springs, for $28.6 million, it was announced this week.
New tenant specialist joins Mid-America

Retail tenant specialist Jack Gray has joined Mid-America Real Estate’s Minnesota operation. He will be representing clients that include Starbucks, Buffalo Wild Wings, and Mills Fleet Farm. Gray arrives at Mid-America from an internship on Cushman & Wakefield Northmarq’s industrial brokerage team. Gray is a recent graduate of University of St. Thomas, where he earned a Bachelor’s degree in marketing.
America’s No. 1 retail experience: Mall of America

When Chain Store Age embarked on a search for the Top 10 Retail Experiences in the nation, it was hard for us to look past a 5-million-sq.-ft. mall in Minnesota with a roller coaster and a comedy club, as well as an Apple Store and a Hard Rock Café. It should come as little surprise, then, to see Mall of America occupying the No. 1 spot in our Top 10 countdown that culminates today.
West Virginia power center changes hands

The Marketplace at Potomoc Towne Center in Ranson, West Virginia, has been acquired for $35.9 million by Heidenberg Properties Group and Strategic Real Estate Partners (SERP) in a joint venture deal. The seller was Carl Freeman Companies of Rockville, Maryland.
America’s Top 10 Retail Center Experiences

Last years’ Electric Daisy Carnival in Las Vegas, a music and dance fest with rides, drew 130,000 young people on its final day. This summer, Billy Joel will play his 43rd sellout concert at Madison Square Garden, where floor tickets sell in the $200 range. No matter their age or inclination, people still want to leave their laptops and homes behind and be with other people. They just need someone to give them a really good reason to do it.
Seafood chain to open 10 new locations

Captain D’s, which introduced fast-casual seafood to Tennessee nearly 50 years ago, continues to expand at a quick pace. The Nashville-based chain announced this week that four new locations are planned for the Mobile-Pensacola market in the next five years and five new stores are planned for San Antonio. It added that a new franchisee will open a location in the Jackson, Tennessee, market this year, with more to follow.