REAL ESTATE

Cincinnati -- Phillips Edison-ARC Grocery Center REIT II Inc. has acquired Kipling Marketplace, adding a property in Colorado to the company's portfolio. Kipling Marketplace is a 90,124-sq.-ft. grocery store-anchored shopping center located in Littleton, Colorado, part of the Denver metropolitan statistical area.

Kipling Marketplace is anchored by a Safeway grocery store, the number two grocer in the Denver area. Other national and regional tenants at the center include Sylvan Learning, Dairy Queen, Cost Cutters, and H&R Block.

Kalamazoo, Mich. – A $2.2 million, 23,000-sq.-ft. retail center is reportedly planned for Kalamazoo, Michigan. According to the Kalamazoo Gazette, developer Habib Mandwee plans to open the center in a downtown area next to a location where Kalamazoo Valley Community College wants to build a health-focused campus.

Tenants for the retail center include Biggby Coffee and On the Rocks Market, with room for four other retailers. Developers hope to start construction in spring 2015 with a fall 2015 completion target.

Woonsocket, R.I. – CVS/pharmacy launched its entrance into the Seattle market with the grand opening of a new location in the city of Renton, the first CVS/pharmacy in the state of Washington. In addition to the new store in Renton, the company will open two more Seattle-area stores in 2014 and will open its first store in the city of Seattle next summer.

With its entrance into Seattle, CVS/pharmacy now has a presence in all 20 top drugstore markets in the U.S. The Renton store is one of the first tobacco-free CVS locations in the U.S.

Houston -- Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced that construction has begun on its retail center in Tomball, Texas.

Shanghai, China -- M&M’S celebrated the grand opening of its first M&M’S World store in Asia – M&M’s World Shanghai, a 17,000+-sq.-ft. entertainment destination that marks the brand’s fifth M&M’s World flagship store. Current flagships include Times Square, New York; Orlando; Las Vegas; and Leicester Square London.
 
Spanning two floors and combining iconic Chinese landmarks and cultural elements, the store features a large array of candies and M&M-branded merchandise.

Charlotte, N.C. -- Aston Properties announced plans to develop Caldwell Crossing in Harrisburg, North Carolina, on the corner of Caldwell Road and Hwy. 49. 

Construction has begun on the 85,000-sq.-ft. center with an anticipated opening date in late fall 2015.

Caldwell Crossing will be anchored by a Harris Teeter grocery store and will include up to 26,000 sq. ft. of small shops. In addition to Harris Teeter and the shops, the center will include two outparcels.

Southlake, Texas -- Retail Properties of America, Inc. announced that Columbia Sportswear's Performance Fishing Gear concept store, plus several additional retailers including Altar'd State (5,162 sq. ft.), Elaine Turner (2,066 sq. ft.), ME SPA – which replaces Coldwater Creek Spa – and J.Jill, have recently opened, or will be opening, at Southlake Town Square in Southlake, Texas.
 
Columbia Sportswear's PFG store, the first of its kind in Texas, will measure 3,456 sq. ft. and is slated to open in late November 2014.

New York -- The Mall at Bay Plaza, New York City’s first enclosed fashion mall in over 40 years, officially opens on Aug. 14.