REAL ESTATE

Office Depot closing 300 more stores; to expand ‘store of future’ pilot
Just three months after its proposed acquisition by Staples ran into regulatory roadblocks, Office Depot unveiled its plans for the future as a standalone retailer. In its second quarter financial filing, the chain announced it would close an additional 300 stores during the next three years, a move that is anticipated to help cut annual costs by some $250 million by the end of 2018. Office Depot is also planning to cut costs by reducing procurement and general and administrative costs.
Outdoor retailer finds third home in Virginia
When the new L.L. Bean store opened at Lynnhaven Mall this summer, it did so to lines wrapped around the building as shoppers waited to see the state of Virginia’s third store for the outdoor retailer. The 17,138-sq.-ft. store in Virginia Beach joins outposts in Richmond and Tysons Corner; it was designed by Cuhaci & Peterson in a former Lord & Taylor space which was renovated by KBE Building Corp.

100-year-old jewelry chain to close all stores

Rethinking its earlier turnaround plans, a century-old Canadian jewelry chain has announced it will shutter all stores. Winnipeg-based Ben Moss Jewellers, which has sold mid-to-high-priced jewelry since 1910, said it will close the 54-unit chain and has launched going-out-of-business sales that began on Saturday, July 30. The liquidation efforts are being handled by Gordon Brothers Canada, ULC and Hilco Global (through its Canadian division, Merchant Retail Solutions).
Under Armour founder: Build it and they will come?

The man behind Under Armour has big plans for Baltimore -- so big, in fact, that local leaders say his ideas could revitalize the city, or not. Click here for more.
Video: Steve Tanger talks money with CNBC's Jim Cramer

Steve Tanger is more than CEO of outlet giant Tanger Factory Outlet Centers – he is also an effective talking head. Tanger appeared as a featured guest on CNBC's "Mad Money with Jim Cramer" on Thursday, July 28, and talked about the consistent strength of the outlet market despite a volatile retail industry.
Butler Town Center ‘dream team’ named

A Gainesville, Florida, mixed-use project now features a strategically assembled team to lead the property to its planned fall 2018 opening. According to Butler Enterprises president Deborah Butler, the team of local, national and international design and construction professionals will work with Butler to create a world-class retail and residential core for Gainesville. The team consists of:
Leasing opens for mixed-use project in Miami Design District

Leasing has begun on HELM Miami, a mixed-use development destined for a full city block in Miami’s Design District, a neighborhood carved out in an under-developed area north of downtown near Biscayne Bay. Newmark Grubb Knight Frank Retail will handle leasing, led by executive managing director Thomas Citron and executive VP Mitchell Friedel.
What have malls done for people lately? Lots.

Everyone remembers the malls of the Eighties, where teenagers congregated and where the latest names in fashion could be found in one amazingly convenient location. This phenomenon was once relevant and innovative, but innovation is fleeting by nature. How have malls changed the ways they connect with customers make the mall experience still worth their while?
Phillips Edison appoints Farrell Donnelley Assistant General Counsel

Phillips Edison & Company announced the appointment of Beth Farrell Donnelly as VP and assistant general counsel. She will work with senior VP and General Counsel Tanya Brady to provide legal advice on all aspects of the company’s business.
Mid-America taps Yenney as marketing director

The Mid-America Real Estate Group announced the hiring of Ashlee Yenney as its corporate marketing director. She will be responsible for marketing and public relations efforts across company offices in Chicago, Detroit, Milwaukee, Minneapolis, and Oakbrook Terrace, Illinois.