REAL ESTATE

GBT purchases plot for Houston center
GBT Realty purchased 11.7 acres of land in Kemah, Texas, with plans to build a 79,000-sq.-ft. shopping center, reported mySA, a San Antonio news site. Purchase price was $2.1 million. According to GBT, the center is 92% leased. Committed tenants include Petco, Marshalls, Ross Dress for Less, and Ulta. Located south of Houston on Trinity Bay, Kemah has just 2,000 residents, but draws tourists with a boardwalk and entertainment district containing carnival rides, restaurants, and shops.
Online baby brand puts down anchor in Manhattan
A digitally native organic baby and toddler's clothing brand has opened its second brick-and-mortar location. Monica + Andy has opened its first store in New York City, on the Upper West Side of Manhattan. The brand was launched online in 2014 by new mom Monica Royer, sister of Andy Dunn, co-founder of Bonobos, the online menswear brand that is rapidly growing its physical store footprint. It features clothing made of kid-friendly fabrics that are free of lead, phthalates and flame-retardants.

Retail building in South Bronx sells for $17.5 million

A 50,000-sq.-ft. former Rite Aid store in what was not long ago a rough-and-tumble area of the South Bronx has sold for $17.5 million. The buyer, an affiliate of ABCAPSTONE plans to redevelop the building — now occupied by a Salvation Army Family Store — into as much as 100,000 sq. ft. of retail space.
Regency goes whole hog with food and beverage sign-ups

“Retail that can be replaced by the Internet is suffering. We’re trying to give an experience with great architecture, places to hang out and good people,” Regency Centers’ John Mehigan told the Orange County Register last week. That means food and beverage concepts, and lots of them.
Sur La Table plots localization and expansion strategy

High-end kitchenware retailer Sur La Table is on a mission to optimize its individual market and expansion strategies. “Now, more than ever, being able to localize is the key to success,” said Ben Rosenfeld, senior VP of stores at Sur La Table.
Online retailer prepares for Mall of America debut

An online clothing brand best known for its signature shirts that are designed to be worn untucked is going to open at Mall of America, in Bloomington, Minnesota. Untuckit will open a 1,300-sq.-ft. outpost at the giant mall this fall. It will be the company's first store in Minnesota, and carry shirts for both men and women.
Drug store giant enters Colorado

CVS Pharmacy opened its first store in the Centennial State. CVS Pharmacy’s newest location resides in Parker, Colorado. It is the first of three stores slated to open in the greater Denver market this year.
Fred Segal ups the ante on Hollywood flagship

Fred Segal is designing its new flagship to be more than a just “a store.” Instead, it’s creating “a style and design laboratory.”
Five in-store amenities helping to drive traffic and engagement

Retailers looking to bring customers in the door need to upgrade the shopping experience with added amenities. That's according to JLL, whose new report examines how brick-and-mortar retailers can deliver in-store experiences and brand loyalty through added amenities. The report, JLL’s Retail Amenities Guide, notes that today's shoppers have countless options when it comes to where they can buy, leaving retailers with fewer opportunities to create brand converts.
Mid-America to handle leasing for Macy’s Minneapolis landmark

Mid-America Real Estate has been tapped to handle the marketing and leasing of the Macy’s building being redeveloped in downtown Minneapolis. Located on the corner of South 7th and Nicollet Mall, the landmark store that was originally Dayton’s will tie together its street and skyway levels and fill them with entertainment providers, a food hall, and traditional retailers new to the market. 601w Companies and United Properties are the developers.