REAL ESTATE

Simon to invest $1 billion in upgrade/expansion of key centers
Indianapolis – Simon plans to expand several marquee properties in the U.S., investing approximately $1 billion annually to enhance its assets. The Mills at Jersey Gardens in Elizabeth, New Jersey, will submit plans for a major expansion, adding approximately 411,000-sq.-ft. of new outlet brands, dining and entertainment to its footprint of more than 200 stores and 1.3 million-sq.-ft.
Cinepolis USA to join Steelpointe Harbor mixed-use center in Connecticut
Bridgeport, Conn. – Los Angeles-based cinema operator Cinépolis USA will open a 12-screen, 1,200-seat luxury hybrid theater at Steelpointe Harbor, a mixed-use development in Bridgeport, Connecticut. Ferrara Jerum international partner and Steelpointe Harbor leasing consultant Douglas Jerum made the announcement.

Five Below to open 70 stores in 2015; making Kansas City debut with three locations

Philadelphia - Five Below will make its initial entry into the Kansas City, Missouri market with the opening of three stores on May 15. The tween and teen specialty retailer expects to open a total of 70 new stores during 2015, on top of opening 62 stores in 2014

The three approximately 7,500-sq.-ft. Five Below Kansas City stores are located in Tiffany Springs Market Center in Kansas City, Adam's Dairy Landing in Blue Springs, Missouri, and Olathe Pointe Shopping Center in Olathe, Kansas.
Newk’s Eatery plans 200 new stores by 2018

Jackson, Miss. – As part of a larger plan to open 30 new corporate and franchised stores by the end of 2015 and 200 new stores by 2018, Newk's Eatery has entered a new development agreement with New Orleans-based Southeast Restaurant Group (SRG). The veteran operator of franchise and independent restaurants plans to open 15 Newk's locations throughout Southern Louisiana and in Houston.
Ikea to test new ‘pick-up-point’ store format in Canada as part of global pilot

Photo: Stefan Sjostrand, managing director, Ikea Canada
H&M expects 4,000 global stores, 400-plus U.S. stores by end of 2015

New York – Fast-fashion retailer H&M estimates that it will continue to expand annually at a rate of 10% to 15%, which would take the U.S. store count to more than 400 and the total store count to almost 4,000 stores by the end of the year.

During 2015, the Swedish retailer has thus far announced it will open 61 stores, including the Herald Square flagship in New York City, which will become the largest H&M in the world when it opens on May 20.
Simon Property opens expansion of Las Vegas North Premium Outlets

Las Vegas -- Simon Property Group, a global leader in retail real estate, announced that it has opened a 25-store expansion of Las Vegas North Premium Outlets.

The center is now one of the largest in the country with 175 stores. The expansion features designer and name brands, including Neiman Marcus Last Call Studio, Saks Fifth Avenue Off 5th, AG Adriano Goldschmied, AllSaints, Bally, Canali, Catimini, CH Carolina Herrera, Citizen, Helmut Lang, John Varvatos, Rag & Bone, Under Armour, and Vera Bradley.
Wegmans to anchor new project at Brooklyn Navy Yard

New York — The Brooklyn Navy Yard Development Corp. on Tuesday announced redevelopment plans for Admirals Row that will bring a long-anticipated supermarket, new manufacturing space and a brand new community facility to the site. Wegmans Food Markets will anchor the $140 million redevelopment of Admirals Row led by Steiner NYC, the developer of Steiner Studios.
Cullinan Properties names VP of leasing

Peoria, Ill. - Scott D. Fitzgerald has been named VP of leasing and development at Cullinan Properties Ltd. Fitzgerald, who is based in Cullinan’s Chicago office, is responsible for pre-development activities for Waller Town Center in Waller, Texas and Avenue Shoppes at P-83 located in Peoria, Arizona, as well as other new development opportunities sought by Cullinan.
Trademark adds three new tenants to Westbend

Fort Worth, Texas – Trademark Property Co. is adding three new tenants to its Westbend shopping center in Fort Worth, Texas. Restaurant chain HG Sply Co. will open a 3,800-sq.-ft. location with a 5,000-sq.-ft. outdoor patio.

In addition, Pax & Parker will open a 1,364-sq.-ft. luxury location and Woodhouse Day Spa will open a 5,240-sq.-ft. full-service luxury day spa.