REAL ESTATE

Malls and shopping centers are not endangered, but evolving species, International Council of Shopping Centers CEO Thomas McGee told the Miami Herald this week.   “There is stress in the department store segment and closures. When you look at those stores as a percentage of retail square footage, it’s small,” McGee said in a wide-ranging interview with the paper. “But those spaces are big and prominent and they need to be handled in a systematic way.”  

Destination XL is expanding its presence in North America.   The male apparel retailer is opening its first Canadian store in Ajax, Ontario. The 5,028-sq.-ft. location features more than 100 brands and thousands of styles from top designers, including Michael Kors, Polo Ralph Lauren, Buffalo Jeans, Nautica, Levi’s and Cole Haan, as well as exclusive brands, such as Brooks Brothers and Lacoste. Private-label brands Harbor Bay, 28 Degrees, Oak Hill and True Nation, round out the assortment, DXL said.  

The Italian shoe and handbag retailer Baldinini takes its place among the 240 other hallowed brands at Woodbury Common in Central Valley, New York, this month, but that’s just the punctuation mark on the story of the transformation of Simon Premium Outlets’ star property.  

Nordstrom Rack will open a store at Cascade Station in Portland, Oregon.    The approximately 28,000-sq.-ft. store is scheduled to open in fall 2017.   This will be the fifth Nordstrom Rack store in the Portland area. Portland is also home to the first stand-alone Nordstrom Rack store, which opened in 1983. The company also operates a full line stores at downtown Portland and Clackamas Town Center.  

Amazon continues to quietly grow its bookstore portfolio.    The online giant confirmed it will open an Amazon Books location in Bellevue, Washington — its second in the state and tenth overall — reported ReCode.   

The Oaks, a 39-year-old Macerich-owned property in Thousand Oaks, California, has been awarded the first BREEAM green standards certification for an in-use building in the U.S.   BRE America, a unit of the Building Research Establishment Environmental Assessment Methodology (BREEAM), bestowed the designation on the Macerich property at an awards event in London this week. BREEAM is the oldest sustainability assessment method for new construction, renovations, and in-use properties.  

Saks Fifth Avenue Off 5th announced plans for two new stores in Canada.   The retailer plans to open a location at CF Markville in Markham, Ontario. The approximately 27,000 sq. ft. store is scheduled to open in 2018.    “Ontario is a key market for Saks Off 5th in Canada and we’re excited to continue to grow our presence there,” commented Jonathan Greller, president, Saks Off 5th and Gilt, which are part of Hudson’s Bay Company.  

Miami’s recently opened Brickell City Centre has unveiled plans for La Centrale, the 38,000-sq.-ft. Italian food hall that figures to be the huge, mixed-use development’s answer to Eataly in Manhattan’s Chelsea district.