REAL ESTATE

CSA opens up nominations for “10 under 40” in retail real estate

BY Katherine Boccaccio

New York — For the third consecutive year, Chain Store Age will select 10 individuals in retail real estate as “retail stars;” all will be featured in the May 2015 issue with bonus distribution to the International Council of Shopping Centers’ RECon show in Las Vegas in May.

The award recognizes people under the age of 40 who are making an impact in retail real estate – whether from the tenant (retail) or the landlord (shopping center company) side.

To nominate yourself or a colleague, click here. Deadline for entries is March 2, 2015.

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REAL ESTATE

Sports Authority signs lease for store at Minneapolis City Center

BY Staff Writer

Minneapolis — Shorenstein Properties LLC announced Sports Authority signed a lease for 21,877 sq. ft. at Minneapolis City Center.

Sports Authority has ten stores in the Minneapolis area but this marks the company’s first store in downtown Minneapolis. The store is expected to open in fall 2015.

“We’re excited to bring our passion for sports and our unparalleled selection of sporting goods and apparel to the Minneapolis City Center, and we look forward to being part of the vibrant retail and lifestyle atmosphere in downtown,” said Michael Foss, CEO of Sports Authority.

Sports Authority will occupy the ground-floor retail space on the Nicollet Mall and 7th Street side of the property. Sports Authority’s presence brings total retail occupancy at Minneapolis City Center to 86%.

Additionally, last week, Shorenstein signed a lease for more than 40,000 sq. ft. with discount luxury apparel retailer Saks Fifth Avenue Off 5th for a store that is slated to open in April 2016.

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REAL ESTATE

REI expanding with three new stores

BY Marianne Wilson

Seattle — REI will enter two new states in the fall, opening a store at the new Christiana Fashion Center, in Christiana, Delware, and another at the new Mills Crossing, in West Des Moines, Iowa.

The outdoor gear and apparel retailer also plans to open a store in Virginia Beach, Virginia, at Pembroke Mall, in spring 2016.

"We have wanted to open stores in Delaware and Iowa for years, so this is exciting, and we can't wait to bring the REI experience closer to our members and customers in Virginia. At each store, we'll work to engage, support and grow the outdoor community," said Tim Spangler, senior VP of retail, which operates 138 stores in 33 states.

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