REAL ESTATE

PREIT finishes Moorestown Mall revamp
Moorestown, N. J. -- PREIT announced the execution of more than 40,000 sq. ft. of new leases and the completion of its renovation to the dining court at Moorestown Mall located in Moorestown, New Jersey. The one million-sq.-ft. property is anchored by Lord & Taylor, Macy’s, Boscov’s and Sears. New retailers include: Yard House, Starbucks Coffee, Liberty Supply Co., Toy Genius, Eye Deals, Yankee Candle, Verizon Wireless and H&M.
Inland acquires 13 properties across nine states
Oak Brook, Ill. -- Inland Real Estate Acquisitions, Inc. announced it facilitated the acquisition of 13 properties purchased in October by Inland related parties. The acquisitions total more than 1.65 million sq. ft. across nine states for a total purchase price of more than $432.2 million. The properties acquired include a student housing community, six shopping centers and single-tenant retail stores.

The 13 properties consist of:

First Look: Bloomingdale’s, Honolulu

Images courtesy of Bloomingdale’s
BJ’s plans South Carolina entry

BJ’s Wholesale Club Inc. is preparing to open its first store in a new state.

GBT Realty Corporation, a national commercial development company headquartered in Brentwood, Tennessee, is developing the BJ’s Wholesale Club in South Carolina, in the city of Summerville. The $12 million development is situated on a 10.5-acre site. The 87,800-sq. ft. membership warehouse club that will feature a BJ’s gas station is expected to open in late 2016. Construction is set to commence immediately following the acquisition of the site in December.
Expansion takes root at Orchard Supply Hardware

Orchard Supply Hardware is still marching toward its expansion goal of 100 stores and $1 billion in sales by 2017. And the San Jose, California-based retailer with deep Golden State roots has learned a thing or two during its journey, according to president Bob Tellier.

The 76-store chain is actively upgrading its fleet into a shopper-friendly "neighborhood format" while finding a comfortable home in various urban locations.
Mall of America lets the sun shine in with massive high-tech skylight

A 3,500-sq.-ft. rotunda “smart” skylight has been installed in the new grand entrance and event space at the nation’s largest shopping mall. The new space is part of Mall of America’s 750,000-sq.-ft. expansion.

The skylight is comprised of more than 300 panes of electronically tintable SageGlass, which controls sunlight to optimize daylight and enhance comfort by preventing glare and solar heat.
Neiman Marcus names design firm for its first Manhattan location

New York-based Janson Goldstein LLP has been tapped as the design firm for the Neiman Marcus store at Hudson Yards in Manhattan, Women’s Wear Daily reported.

The firm has a wide-ranging practice that includes both residential, hospitality and retail work, with a roster of clients that includes Holt Renfrew, Intermix and Saks Fifth Avenue.
Macy’s to test new hybrid store format; grow specialty stores

Macy’s may be cutting back on the number of department stores in its portfolio, but the company is moving ahead with brick-and-mortar growth in other areas.

Over the next two years, Macy’s plans to open about 50 Macy’s Backstage stores in off-mall locations. The roll out builds on the launch of the off-price format this past September.
Restoration Hardware unwraps new retail format

The newest retail concept from Restoration Hardware now has its very own brick-and-mortar home.

The fist standalone RH Modern has opened, in West Hollywood, California, in the heart of the city’s Design District. The 21,000-sq.-ft. store combines both indoor and outdoor space. RH Modern also debuts with its own distinctive 540-page catalog, a dedicated website and national ad campaign.
EDENS Names Rob Wyant as COO

Bethesda, Md. -- EDENS announced the appointment of Rob Wyant as COO. Wyant brings over 30 years of experience in the retail real estate industry, with most of his career spent at General Growth and Westfield. He will use his vast knowledge in leasing, property managements, legal and tenant coordination functions, to inspire operational excellence at EDENS.