REAL ESTATE

  • Report: U.S. retail availability expected to decline in 2012

    Boston -- A report released Monday by CBRE Econometric Advisors, a division of Los Angeles-based CBRE Group, said that the U.S. retail real estate sector’s availability rate is expected to decline to 12.4% by the end of 2012.

    In 2013, the national retail availability rate, including neighborhood and community centers, will drop further, reaching 11.7%.
     
    In third quarter 2011 the retail availability rate was 13.2%. This rate remains well above the previous availability peak of 11.3% set in second quarter 1992.

  • Infill Alert

    By industry estimates, concrete-slab moisture-related floor-covering failures cost retailers, building owners and contractors more than $1 billion every year. But it’s not just new spaces that present a challenge in this regard. With infill the name of the game in retail development, retailers that open stores in existing spaces also need to be on full alert to the potential for flooring problems.

  • AT&T opens ‘Retail Innovation Center’

    Chicago -- AT&T announced the opening of the AT&T Retail Innovation Center in Arlington Heights, Ill.

    The 10,400 sq.-ft. space — more than twice the size of a conventional AT&T store layout — is designed to showcase the company’s most innovative products and serve to gather customers’ feedback on new retail concepts — all designed to help shape the ultimate customer experience across AT&T’s more than 2,300 stores nationwide.

  • Coco Fresh Tea & Juice opens at Sky View Center

    Queens, N.Y. -- Onex Real Estate Partners said that Taiwanese tea brand Coco Fresh Tea & Juice has opened its newest teashop at Sky View Center, the 800,000-sq.-ft., multi-level regional mall in downtown Flushing, N.Y.

    The 600-sq.-ft. teashop operates a sister location on Main Street, in Flushing.

  • Nothing Bundt Cakes expands with four new North Texas locations

    Dallas -- Cake retailer Nothing Bundt Cakes said it is expanding its Texas presence with four new leases.

    The retailer worked with Venture Commercial Real Estate to negotiate new stores in Arlington, Frisco, Flower Mound and Rockwall.

    Nothing Bundt Cakes entered the North Texas market in 2007 with a Southlake store and has since added locations in Dallas, Fort Worth and McKinney. The four new leases will bring the total to eight locations open by the end of 2011, with plans to open stores in Plano and the Lake Highlands area in 2012.

  • Forest City to use mobile technology in study

    Cleveland -- Forest City Commercial Management announced that it will test a new survey technology by U.K.-based Path Intelligence to track mall shopping behavior and flow by using mobile phones. 

    The surveys will be conducted at Promenade Temecula in Southern California and Short Pump Town Center in Richmond, Va., from Black Friday to New Year’s Day. They mark the first use of this kind of technology in a mall setting.

  • SRS Real Estate hires new team members in Chicago

    Dallas -- SRS Real Estate Partners said it has hired two new team members in the Chicago office.

    Tim Henry has been named senior VP and market leader. He was previously a founding principal with National Facilities Group.

    Todd Gould was named senior VP.
     

  • Founding Farmers restaurant opens at Park Potomac

    Bethesda, Md. -- Streetsense announced that Founding Farmers restaurant has opened a 7,000-sq.-ft. location at Park Potomac, an 110,000-sq.-ft retail center that is part of a mixed-use community developed by Foulger-Pratt of Rockville, Md.

    The new restaurant, which is described as “barnyard chic” and featuring natural ingredients, is joined by Harris Teeter grocery store, as well as Elevation Burger, Emily Grace Fashion Boutique, Love Couture Bridal, Wine Harvest, Zoe's Kitchen, and other shops and services.

  • Simon announces JV to develop St. Louis Premium Outlets

    Indianapolis -- Simon Property Group announced a joint venture with Woodmont Outlets and EWB Development to develop, lease and manage St. Louis Premium Outlets, a new upscale outlet center in Chesterfield, Mo. 

    The new outlet center, which was announced in October as Spirit of St. Louis Outlets, will be comprised of 55 acres and will anchor Chesterfield Blue Valley, a mixed-use development to include office space, hotel, restaurant and entertainment venues. 

  • CenterMark to rehab Glenville Market building for Deal$

    Cleveland -- CenterMark Development said it has signed a lease with Deal$, a division of Dollar Tree, to occupy an 11,000‐sq.-ft., former Easttown Eagle Market building in the Glenville neighborhood of Cleveland.

    CenterMark purchased the long‐vacant building in October and said it expects to complete the rehabilitation by the spring of 2012. A grand opening is expected during the second quarter following interior improvements by Deal$.
     

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