REAL ESTATE

Saks to put best foot forward with new concept
New York -- Saks Fifth Avenue is going to open a freestanding store dedicated to a hot category.

The department store retailer plans to open a shoe store in Greenwich, Connecticut, in fall 2016, Women’s Wear Daily reported.

The store, whose name has not yet been revealed, will be located close to an existing Saks Fifth Avenue store, which will no longer sell shoes.

The new format will be modeled after Saks’ in-store 10022 shoe department, according to the report.
H&M expanding higher-end store banner in the U.S.
London -- Fast-fashion giant H&M doesn’t let any grass grow under its feet.

H&M is expanding its higher-end, minimalist-styled brand, COS (short for Collection of Style). The retailer plans to open four stores in the United States in 2015, starting this fall, with two new markets on tap. COS is also expanding into Canada, with stores set to open in both Montreal and Toronto later this year.

Baker Katz to remodel Houston retail property

Houston - Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, has acquired a 4.5-acre property with plans to renovate two existing buildings totaling 33,000-sq.-ft. in Atascocita, in the Greater Houston area.

The firm plans to renovate the two buildings that were constructed in 1984 to update the architecture and attract new retail tenants. Construction is slated to begin early next year. Jim Bayne with Investar Real Estate Services represented the seller for this transaction
ICSC urges Aug. 15-16 sales tax holiday in Massachusetts

Boston – Massachusetts will have a tax holiday the weekend of Aug. 15-16, if the International Council of Shopping Centers (ICSC) has anything to say about it. The ICSC has sent a letter to Massachusetts Gov. Charlie Baker asking him to sign the sales tax holiday legislation currently on his desk.
$40.8 million revitalization of Island Walk is now underway

Palm Coast, Fla. -- A transformation is underway. Branch Properties is in the midst of a $40.8 million redevelopment of the largest (and oldest) retail shopping center in Palm Coast, Florida.

Island Walk, once called Palm Harbor Shopping Center, is a 204,000-sq.-ft. center anchored by Publix Super Markets. Once completed in 2016, the upgraded retail destination will bring new and expanded tenants and amenities to the Palm Coast community in an effort to revitalize the city’s original core.
J. Crew’s Mercantile headed to Wisconsin

Chicago -- J. Crew Group’s new value-priced store concept has announced a second location.

Mercantile, which recently made its national debut at The Shops at Park Lane in Dallas, will open at The Mayfair Collection, in Wauwatosa, Wisconsin.
J. Crew’s new Mercantile store concept … what’s all the fuss about?

New York -- J.Crew Group is not breaking any new ground with its latest retail format, Mercantile, which recently opened its first location, in Dallas.

The budget-friendly store, in The Shops at Park Lane, is very similar to J.Crew’s factory outlet concept, reports Business Insider, particularly in its pricing and merchandise mix.

For a look inside the new store, click here.
Patagonia wears its heart on its sleeve

New York -- Activism, yoga classes and free repairs are all on the menu at Patagonia’s new store in Manhattan’s Soho neighborhood.

The global outdoor lifestyle retailer, one of the industry’s most dedicated environmentalists, is marking 20 years of doing business in the Big Apple.
Six COOL Stores for a HOT Summer

The spring and summer has brought with it a flurry of new store concepts, from established players, international newcomers and online stars. Check out the six below.
Ikea taking shape in the desert

Las Vegas -- Those familiar blue composite panels are going up in Las Vegas.

Ikea announced that steel framing has progressed far enough that installation of the iconic blue panels has begun on its future Las Vegas store. Installing the blue panels is a construction milestone that ensures the 351,000-sq.-ft. store will open summer 2016, and it reflects the unique architectural design for which Ikea stores are known worldwide.