REAL ESTATE

Enter Now: Deadline approaching for annual store design competition
Don’t be left out in the cold. The Retail Design Institute is accepting entries for its annual store design competition. The deadline to submit is December 31, 2016.

The competition celebrates exceptional retail experiences across more than 20 categories from department stores and specialty shops to restaurants and pop-ups. In addition, a single "Store of the Year" will be chosen from among the winning entries.
Why stores matter more than ever
The demise of physical stores has become a familiar narrative during the holiday season, but nothing could be further from the truth according to one man better positioned than most to know.

Jordan’s Furniture outdoes itself with new store — and that’s saying a lot

Jordan’s Furniture has opened a massive store in New Haven, Connecticut, and this time the retailer is putting customers on the ropes — literally.

Jordan’s, known for its larger-than-life stores that combine retail with entertainment, pulled out all the stops for the 192,500-sq.-ft. location. Some 20,000 sq. ft. of the space is devoted to entertainment attractions that include an elaborate indoor rope course, a water show complete with light and sound effects, a pizzeria and ice cream counter.
Iconic Los Angeles retailer to shut down operations

A merchant that grew from a small boutique in West Hollywood with a celebrity clientele to a multi-store operation is going out of business.

Kitson announced that it is closing its 17 stores, which are located in California, Oregon and Nevada. As of December 11, its e-commerce site had already been shut down.
Dealing With It

If there was a single theme at the recently concluded ICSC Deal Making Conference in New York City, it was “possibilities.” New projects, new ideas, new trends and a sense of optimism were on display.
CBL completes sale of Mayfaire Community Center

Chattanooga, Tenn. -- CBL & Associates Properties announced that it has completed the sale of Mayfaire Community Center for $56.3 million to Principal Real Estate Investors.

Mayfaire Community Center is the 210,000-sq.-ft. center located in Wilmington, North Carolina, which CBL acquired in June of 2015. CBL will be providing leasing and management services for the new owners.
Wegmans breaks new ground — but not with a retail store

There is a new tourist attraction in Washington, D.C., and visitors have a retailer to thank.

The Smithsonian’s National Museum of American History has opened “Wegmans Wonderplace,” the first gallery on the National Mall tailored for the learning needs of children six and under. The space, made possible by a $1.5 million gift and in-kind donations from Wegmans Food Market, allows kids to “cook” in a kitchen inspired by Julia Child’s.
Ripco Real Estate’s New Jersey office continues to grow

Lyndhurst, N.J. -- Ripco Real Estate Corp. announced David Townes has joined its New Jersey office sales team. Prior to joining Ripco Townes worked at Welco Realty for five years where he represented a combination of landlords and retail tenants. One of his many strengths and areas of expertise includes assisting retailers looking to expand in the New Jersey and Rockland County, New York areas.
Time Equities expands its footprint in Wisconsin by acquiring four centers

New York -- Time Equities acquired four Wisconsin multi-tenant retail assets for $18.1 million, spanning 307,668 sq. ft. in total. The acquisitions, consisting of two separate transactions, include The Geneva Commons purchased for $1.3 million, in addition to Oak Creek Centre, Park Plaza and Taylor Heights acquired for $16.8 million.
Sam Edelman continues to expand its retail presence

Sam Edelman has opened a 2,500-sq.-ft. store at The Forum Shops at Caesars Palace in Las Vegas. Designed by Dagnell Folger of Architecture + Information, the store stays true to the Sam Edelman aesthetic with a mix of materials that includes reclaimed wood and raw concrete with rose-colored brass and black leather.

Hints of the brand’s signature shade of green provide a pop of color. Vintage furniture pieces — curated by Sam Edelman himself — are mixed throughout for a personal touch.