REAL ESTATE

Celebrity chef to open restaurant at Edens’ Mosaic property
Washington, D.C. -- Edens announced that Mike Isabella, of Bravo TV’s “Top Chef” fame, will open his Kapnos Kouzina restaurant concept at Mosaic, Edens’ mixed-use development located in Fairfax County, Virginia. The restaurant is slated to open in early 2016.
New off-pricer making some noise
Louisville, Ky. -- A new off-price outlet concept that opened its first store in November 2014 is expanding.

Retail4LESS announced the opening of two new locations in Kentucky — one in Madisonville, and the second in Franklin — with both due to open in the late fall.

The opening of the two new stores will mark the first new stores for the off-price retailer since the launch of its inaugural location last year, in its home base of Louisville.

ICSC names new CEO

New York -- The International Council of Shopping Centers named a 26-year Deloitte veteran as the fourth individual to lead the global trade association in its 58-year history.

Thomas (Tom) McGee, currently vice chairman, Deloitte LLP, was appointed president and CEO of ICSC, effective Sept. 21. He succeeds current ICSC President and CEO, Michael P. Kercheval who announced his retirement earlier this year.
Ikea going bigger in Burbank

Burbank, Calif. -- Ikea on Wednesday broke ground on a new store that is located less than one mile away from the company’s first-ever store in California and oldest location in the Western United States.

Ikea is building a new, larger store in Burbank, California. Until it opens on the new site in spring 2017, customers can continue to shop at the existing 242,000-sq.-ft. Ikea in Burbank, which was its sixth overall U.S. store and opened in November 1990.
$750 million mixed-use Steelpointe Harbor set to redefine Bridgeport

Bridgeport, Conn. -- Bridgeport Landing Development, a subsidiary of The RCI Group, announced that the $50 million first phase of Steelpointe Harbor, located in Bridgeport, Connecticut, is scheduled to open later this year. Steelpointe Harbor is a two million sq. ft. super-regional waterfront project spanning 82 acres.
Hillside Village multi-million dollar renovation is underway

Cedar Hill, Texas -- Trademark Property Co. announced that it has broken ground on its multi-million dollar renovation of Hillside Village, formerly Uptown Village at Cedar Hill, located in Cedar Hill, Texas.
Report: Forever 21 seeks smaller stores, loan

Los Angeles – Forever 21, known for operating some truly large stores, is reportedly rethinking that strategy.

According to the Wall Street Journal, the specialty fast-fashion retailer is also in talks to obtain a $150 million load.
Madison Marquette selected to lease Orlando’s Parc Central

Orlando, Fla. -- Madison Marquette announced it has been selected to provide leasing services for Parc Central mixed-use development, located in Orlando, Florida. The development is slated for a first quarter 2016 groundbreaking.

Parc Central will consist of a 29-story high-rise, mixed-use tower featuring 215 luxury residential apartments with rooftop amenities, approximately 15,000 sq. ft. of ground floor retail space and a 30,000-sq.-ft. retail floor located above the parking deck.
Build-A-Bear Workshop updating store format, business model

St. Louis -- Build-A-Bear Workshop continues the transformation of its store experience — and business.

The specialty retailer on Tuesday debuted its updated store design at Mall of America, in Bloomington, Minnesota. Part of a company-wide brand refresh, the reformatted location was developed to increase productivity and optimize space while updating the brand’s overall brand look. New elements include:

• Sophisticated new logo, store set-up and color palette;
Lowe’s makes big purchase for big Hawaii store

Mooresville, N.C. – Lowe’s Companies Inc. is making a big purchase that will enable it to build a big store on one of Hawaii’s biggest islands.

The retailer is purchasing an 11-acre property in Kahului, Hawaii for $18.7 million from A&B Properties Inc., a subsidiary of Alexander & Baldwin.

Lowe’s plans to build a 167,000-sq.-ft. store on the site, located on the island of Maui. The new store will be 16% larger than Lowe’s current store in Kahului, which it leases from a third party.