REAL ESTATE

America’s Top 10 Retail Center Experiences
Last years’ Electric Daisy Carnival in Las Vegas, a music and dance fest with rides, drew 130,000 young people on its final day. This summer, Billy Joel will play his 43rd sellout concert at Madison Square Garden, where floor tickets sell in the $200 range. No matter their age or inclination, people still want to leave their laptops and homes behind and be with other people. They just need someone to give them a really good reason to do it.
Seafood chain to open 10 new locations
Captain D’s, which introduced fast-casual seafood to Tennessee nearly 50 years ago, continues to expand at a quick pace. The Nashville-based chain announced this week that four new locations are planned for the Mobile-Pensacola market in the next five years and five new stores are planned for San Antonio. It added that a new franchisee will open a location in the Jackson, Tennessee, market this year, with more to follow.

Retail to rise at San Jose Flea Market

One of the nation’s largest outdoor markets is making room for some brick-and-mortar retail. Berryessa Properties, a family-owned company that runs the San Jose Flea Market has sold a 6.5-acre parcel adjoining the open-air bazaar to Western National Group. The Irvine, California-based company plans to erect an apartment building with 560 residences in the space, including 37,000 sq. ft. of ground-floor retail in the fifth phase of its Market Park San Jose property.
Amazon distribution center set for Lake Nona

One of the nation’s fastest-growing communities shows no signs of slowing down. Amazon has selected the master-planned town outside Orlando as the site of an 850,000-sq.-ft. distribution center set to open in 2018. It will create more than 1,500 full-time jobs, according to Amazon’s VP of North America Operations Akash Chauhan.
Children's clothing retailer details store closings

Gymboree Corp. is "right-sizing" its store footprint.
RPAI on target with disposition strategy

The remaking of Retail Properties of America is right on track, according to a financial review provided by the Oak Brook, Illinois company. RPAI reported that it has completed $414.8 million worth of dispositions in the year to date, of which $367.2 million were non-target, multi-tenant retail assets. In executing its strategic plan to focus on high-performing markets and properties, RPAI has exited multi-tenant retail operations in Alabama, Colorado, Louisiana, New Mexico, and Ohio.
Six more Neighborhood Market prototypes sold

Skilken/Gold has announced the sale of six Neighborhood Market stores, one of which was a prototype of Walmart’s new design for its grocery store concept. The Louisiana stores all average about 42,000 sq. ft., including the Baton Rouge location that emerged from Walmart’s “build-to-suit” program initiated in 2014. The Hampshire Companies and a South Korean partner acquired the properties for $78 million.
Cushman names director of Palm Beach brokerage

Cushman & Wakefield has tapped Dominic Delgado as senior director of its retail brokerage for Palm Beach and Broward County, Florida. Delgado moves over to Cushman from LDR Partners, a Florida firm that focused on acquisition of low-performing retail, office, and hospitality real estate during the recession. As executive VP there, Delgado represented a mix of national and regional developers and REITs.
Pet supplies retailer continues store expansion

PetSmart was busy opening stores during its first quarter. The retailer opened 18 new stores in the U.S. and Canada in its fiscal quarter ending May 1, 2017. PetSmart opened 70 net new stores in 2016 and expects to open more than this number in fiscal year 2017.
GameWorks coming to Mall of America’s fourth floor

The fourth floor of the Mall of America, which has long been a center of night-time activity at the Bloomington, Minnesota, institution, continues to undergo an overhaul.