REAL ESTATE

Gaining New Ground
In the face of an increasingly complex retail real estate investment environment, and a world where constantly evolving technology enables us to be connected 24/7 with both current and potential partners, as well as have access to real-time market and property data and analytics at our fingertips, retailers and commercial real estate professionals are being increasingly challenged to be more nimble, flexible and connected than ever before — and to find new ways to maximize efficiency and productivity in the non-stop deal-making environment.
Winick Realty leases first New York location for famed Italian panini shop
Winick Realty Group announced Antico Noe, the Florence-based panini shop is bringing its one-of-a-kind sandwiches to New York City. The new store will be 1,600 sq. ft. will operate at 220 East 53rd Street, New York, New York. Located between Second and Third Avenues in Midtown East, the storefront provides Antico Noe exposure to a large daytime population.

CEO, CFO and two others resign following audit committee review

New York -- Brixmor Property Group announced today that it has named Daniel Hurwitz, former CEO of DDR Corp. and the founder and CEO of Raider Hill Advisors as Interim CEO, effective immediately. Hurwitz will also be appointed to serve on the company's board of directors.

The company also announced that CEO Michael Carroll, president and CFO Michael Pappagallo, and chief accounting officer Steven Splain, along with an accounting employee, have resigned, effective immediately. Carroll has also stepped down from the company's board of directors.
CBRE hires head of retail research

Los Angeles -- CBRE Group announced that Melina Cordero, a retail analyst, consultant and researcher has joined the company as head of retail research, the Americas. Cordero will work closely with CBRE Retail business-line leaders and professionals to generate innovative, in-depth research and analysis to inform CBRE clients about the ever-changing retail and shopping center industries.
Lululemon redefines transparency with 'Lab' store format

Lululemon Athletica will open the first U.S. outpost of the brand’s design incubator “lab” format in downtown Manhattan, in March.

It’s only the second location for the unusual concept. The first, opened in 2009, is in the company’s hometown of Vancouver, British Columbia.
Exclusive Content: Why We’re Investing in Quality Real Estate at the Top of the Market Rather Than Value-Add

As we look at the white hot commercial real estate market, it’s clear that value-add and opportunistic investors are chasing deals in new asset classes and locations that are less than ideal. And it makes sense: they are return-driven, happy to take more risks to chase higher yields. But when the market inevitably comes down, they’ll have more to lose.
Fabletics continues offline push

Fabletics, the fashion athletic brand co-founded by actress Kate Hudson, is setting up shop in the nation’s largest shopping mall.

The retailer is set to open at Mall of America in Bloomington, Minnesota, this spring. The 2,000-sq.-ft. store will feature the brand’s signature fashion-forward activewear for women and also its new line of men’s high performance athletic gear and lifestyle basics.

Fabletics was launched online in 2013. It made the leap to brick-and-mortar in fall 2015, and currently operates six stores.
Home décor retailer continues to expand

At Home has added four more locations to its growing store portfolio.

The big-box home décor retailer announced it has entered the state of Minnesota, opening a 107,000-sq.-ft. store in Burnsville. (The company plans to open a second store in the state, in Blaine, this June.)
General Growth clarifies comments about Amazon’s store expansion plans

The CEO of General Growth Properties caused a firestorm late Tuesday when he made a passing reference during the company’s fourth quarter earnings call that Amazon was planning to open 300 to 400 bookstores. On Wednesday, the mall giant issued a very short statement that poured water on the fire.

“General Growth Properties CEO Sandeep Mathrani has indicated that a statement he made concerning Amazon during GGP's earnings conference call held on February 2, 2016, was not intended to represent Amazon's plans.”
First Look: CVS Pharmacy in Target

The conversion of Target’s in-store pharmacies and health clinics to CVS Pharmacy and Minute Clinic has begun.

The first of the new store-within-a-store concept showcasing the CVS Health and Target partnership went live Wednesday morning in the Charlotte, North Carolina, market.

Teams from Target and CVS Health will spend the next six to eight months converting all of Target’s 1,672 pharmacies and 79 clinics nationwide to CVS Pharmacy and Minute Clinic locations.