REAL ESTATE

Forest City to consider disposing of retail assets
Forest City Realty Trust may be on its way to having a greatly reduced investment in the mall industry and a bigger one in apartments and office assets. The Cleveland-based firm announced it is reviewing strategic alternatives for its retail portfolio. Forest City holds ownership stakes in 14 regional malls across the country and 19 specialty retail centers, mostly in New York City. The East River Plaza, which fronts the FDR Drive in Manhattan at 116th Street, is a Forest City property.
Sears moves to elevate apparel offerings with fashion-forward, in-store concept
Sears is piloting a concept that could breathe new life into its apparel offerings.

Report: Amazon planning to open drive-up grocery store

The world’s biggest online retailer is planning to open a drive-up grocery store in its hometown. At least that’s according to a report by GeekWire, which said Amazon plans to renovate a site in Seattle’s Ballard neighborhood into a 9,759-sq.-ft. retail space where shoppers can pick up groceries that they ordered online.
Now Trending: Augmented retail-ity
Dollar General expands into North Dakota

Dollar General is moving into North Dakota, announcing that it has begun construction on five new stores in the state. This gives the discount retailer a footprint in 44 states after having established operations in Maine, Oregon, and Rhode Island in 2015. The initial North Dakota locations will be in Ellendale, Gwinner, Hankinson, Hillsboro, and Oakes. They’re being built in the chain’s standard 9,100-sq.-ft. format.
More stores, more sales for Ace Hardware

Boosted by store growth and crisp sales of outdoor living, paint and lawn and garden, Ace Hardware Corporation Tuesday reported second quarter 2016 revenues of $1.4 billion, an i
MOD Pizza mobs Houston

It’s the pizza chain on the rise in the U.S. and in Houston, too, apparently. MOD Pizza will open 11 new locations in H-town this year, bringing its total in the metro to 15, according to Transwestern, which served as the leasing agent. The fast-casual chain is well on its way to 200 locations, with for 50 new shops in 2016. MOD Pizza’s $65 million in sales represented a 21% increase in 2015, making it the fastest-growing new food chain in the U.S., according to Nation’s Restaurant News.
Discounter’s store growth hits a big number

Dollar General continues to expand its store portfolio at a rapid pace. The discounter on Monday opened its 13,000th store, in Birmingham, Alabama. The company operates approximately 675 stores in Alabama. The new store is one of the planned 900 new stores Dollar General expects to open in 2016.
CBL says investigation clears it of wrongdoing

A Securities Exchange Commission investigation into some loans applied for by CBL & Associates is unfounded, the company maintained in announcing the results of an independent investigation.
CBRE makes two key Midwest hires

Two long-tenured retail real estate veterans have joined CBRE Group’s retail services teams in key Ohio markets. New to CBRE’s Cincinnati office is Melissa Ruther, whose 15-year career has included stints in both leasing and tenant representation at Anchor Associates, Edge Real Estate Group, and most recently JLL. A CBRE press release made note of her strong relationships with retailers, developers, and the brokerage community.