REAL ESTATE

New York - MG Properties, the real estate investment and development arm of McCourt Global, is entering an equity and development partnership with Hines, the international real estate firm, on the development of its mixed-use project at 360 Tenth Ave. in New York City. MG Properties and Hines have selected SHoP Architects to design the project.

In 2013, 360 Tenth Avenue was purchased from Sherwood Equities for approximately $167.5 million. The property is zoned for up to 733,406-sq.-ft. of Total Zoning Floor Area (ZFA).

By Matthew K. Harding, president, Levine Management

Moving into the final months of 2014, the outlook for retail in the Northeast remains quite positive. We are seeing demand from national, local and franchise companies across a broad range of categories.
 

Redmond, Wash. – Microsoft will open its first flagship location, on Fifth Avenue in Manhattan.

In addition, Microsoft plans to open 10 new stores across the U.S. in time for the 2014 holiday season, while the flagship New York store is being built. Microsoft has not given a specific timeframe for when the flagship will open, but said it has been planning the store for five years. It will open in a spot currently occupied by luxury accessories brand Fendi, a few blocks south of an Apple store.

Dublin, Calif. - Ross Dress for Less will open a new store in Hawthorne, California, in Los Angeles County, on Oct. 11. The store is located in the Hawthorne Town Plaza.

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

Dublin, Calif. – DD’s Discounts, a division of Ross Stores Inc., will open a new store in Houston, on Sept. 27. The store is located in the Mission Bend Shopping Center in the Mission Bend neighborhood.

Including this new location, DD’s Discounts will operate more than 150 locations in 15 states and is on schedule to complete its expansion plan to open approximately 20 locations in 2014.

New York -- Urban Outfitters has big plans for its women’s lifestyle brand, Anthropologie. The retailer plans to to open 25 to 50 Anthropologie stores during the next five years that will be approximately three times larger than the brand’s current 7,000-sq.-ft. average, Bloomberg reported. The company plans, for the most part, will  either expand existing locations or find new ones when a lease comes up for renewal, the report said.

New York -- DSW Inc. is opening new stores in Watertown, New York, and Louisville, Kentucky, on Oct. 2. The Watertown store will be located in the Salmon Run Mall and the Louisville store will be located across from St. Matthew’s Mall.

DSW offers other features including the DSW Rewards loyalty program and the Shoe Lovers community on Facebook.

Birmingham, Ala. – Brookwood Village, a dynamic mixed-use development located in the affluent Mountain Brook and Homewood area of Birmingham, Alabama, today announced that the shopping center would welcome Hickory Tavern to its restaurant mix in 2015.