REAL ESTATE

Retailers: Detroit wants you! (And you should want Detroit.)
Detroit is one of the most encouraging and intriguing stories to develop in the wake of the Great Recession. With investment, development, and redevelopment booming downtown, office and multi-family momentum has spurred a retail revival. The Motor City is revving its retail engine and is well on the way to arriving as a true retail destination for the first time in decades.
Target to open in Macy’s backyard in NYC
Target Corp. is bringing its small-format store to the heart of Manhattan. The discounter plans to open its first location in mid-town Manhattan, a 43,000-sq.-ft. store in Herald Square, just west of the 34th Street and Broadway intersection, and one block from Penn Station — and across the street from the Macy’s flagship.

Penney details stores marked for closing

The ax has fallen: J.C. Penney has released the list of 138 stores it plans to close.
JLL names new West Coast leasing VPs

Jones Lang LaSalle has announced the hiring of two new vice presidents to handle leasing of third-party-managed retail properties in West Coast markets.
Off-pricers in big expansion push

Forget about online. The biggest threat to Macy’s and other department store retailers is coming from bricks-and-mortar. Speaking at a recent conference in New York City, Macy's CFO Karen Hoguet said off-price retailers have proven a bigger long-term challenge to the company than the Internet, CNBC reported.
Houston Mall shutters all but outside stores

The 800,000-sq.-ft. Northwest Mall in Houston, a fixture in the northwest section of town since 1968, will close all interior stores on March 31. Tenants include Champs Sports, Factory Show Warehouse, Royal Tea Café, and the Flame & Sizzle Grill. Only stores with outdoor entrances will remain in business. These include Thompson Antique Center, Palais Royal, and The College of Healthcare Professionals.
More details on Amazon’s drive-up grocery store concept

Documents revealed what might be the next on Amazon’s physical retail drawing board. New permit documents revealed a sneak peek into what could be one of the online giant’s first drive-up grocery locations, according to GeekWire.
Pizza chain expanding into 17 new states

Nearly half a century after entering the franchise business, Gatti’s Pizza has announced an aggressive expansion plan that will take it into 17 new states.
Report: Department store closings are overblown

Malls and shopping centers are not endangered, but evolving species, International Council of Shopping Centers CEO Thomas McGee told the Miami Herald this week. “There is stress in the department store segment and closures. When you look at those stores as a percentage of retail square footage, it’s small,” McGee said in a wide-ranging interview with the paper. “But those spaces are big and prominent and they need to be handled in a systematic way.”
Specialty retailer breaks into Canada

Destination XL is expanding its presence in North America. The male apparel retailer is opening its first Canadian store in Ajax, Ontario. The 5,028-sq.-ft. location features more than 100 brands and thousands of styles from top designers, including Michael Kors, Polo Ralph Lauren, Buffalo Jeans, Nautica, Levi’s and Cole Haan, as well as exclusive brands, such as Brooks Brothers and Lacoste. Private-label brands Harbor Bay, 28 Degrees, Oak Hill and True Nation, round out the assortment, DXL said.