REAL ESTATE

While 2014 was rocky for a great many retailers, with several thousand store closings across most categories of retail, the first half of 2015 has seen some encouraging signs of a modest resurgence in certain retail sectors and from select brands. The higher numbers of store closings are far from over, and it would not be accurate to refer to 2015 as a total turnaround, but it does seem noteworthy that there are significant categories of retail that have aggressively moved to capitalize on opportunities.

North Plainfield, N. J. -- Nearly one-third (31.1% ) of retailers report that their companies have opened or will open new stores this year, according to a survey by retail real estate management firm Levin Management. It is the highest mid-year percentage in the four years for which comparative Levin survey data is available.

New York – Retail real estate giant Simon has announced the winners of its inaugural 'Simon Launch,” a retail startup competition aimed at uncovering, investing in, and accelerating top startups in the retail industry. 

The winning startups, which were selected from more than 300 applications, are:

Grand Rapids, Mich. - Meijer has moved into its sixth state, opening its first two Wisconsin supercenters. The 192,000-sq.-ft. stores in Grafton and Kenosha have created nearly 600 jobs.

In addition to the retailer's grocery, merchandise and garden center at each store, the new pharmacies offer drive-thru pick up and the Meijer free prescription program.

In August, Meijer will open two additional stores in Wauwatosa and Oak Creek. The retailer has plans for continued growth in Wisconsin.
 

All good things must come to end — including, after nearly four years, my contributions to this column. “Retail Rap” will soon be forging on without me. This is the first of two final columns I’ll be contributing, and I’ll beg your indulgence if I wax nostalgic at times in this, column number 99, and in my last submission two weeks from now, Retail Rap number 100.

Chicago - Mid-America Real Estate Corp.’s Investment Sales team recently brokered the sale of Randhurst Village in the Chicago suburb of Mount Prospect. Tarrytown, New York-based DLC Management Corp. purchased the 1,009,937-sq.-ft. regional power and lifestyle center.

Randhurst Village national tenants include Costco, Home Depot, Jewel-Osco, AMC Theaters, Carson Pirie Scott, Bed Bath & Beyond, Sports Authority, TJ Maxx, Old Navy, PetSmart and World Market.

Canton, Mass. - Dunkin' Donuts has opened its newest hotel location at the Great Wolf Lodge in Sandusky, Ohio, making it the fifth restaurant to open under a franchising agreement between Dunkin' Donuts and Great Wolf Resorts. Dunkin' Donuts has existing restaurants at Great Wolf Lodge in Concord, North Carolina; Williamsburg, Virginia; Traverse City, Michigan; and Fitchburg, Massachusetts.

WILMINGTON, N.C. — The Mayfaire Town Center and Mayfaire Community Center have been acquired by CBL & Associates Properties, a publicly traded real estate investment trust based in Chattanooga, Tenn.

The sale, which closed June 18, is not expected to result in immediate changes that will be noticed by consumers.

Once a horse farm, Mayfaire Town Center and Mayfaire Community Center have become one of North Carolina's premier shopping and leisure destinations.