DSW, Havertys to Fort Worth’s Alliance Town Center
Fort Worth, Texas — Trademark Property Co. has announced the opening of a 15,000-sq.-ft. DSW Designer Show Warehouse and a 35,000-sq.-ft. Havertys, a full-service home furnishings retailer, in Alliance Town Center in north Fort Worth, Texas. Both are scheduled to open Labor Day weekend of 2014.
Construction is scheduled to begin late this year or early next year on both stores. In addition, construction continues on several other tenants, including two new eateries scheduled to open this December.
Three additional new tenants will open at the 1-milliono-sq.-ft. Alliance Town Center in 2014. They are Cold Stone Creamery, Lane Bryant and H&R Block.
Trademark has also begun pre-leasing on a main-street lifestyle expansion scheduled to open in 2015. It will feature an estimated 150,000 sq. ft. of new specialty retail, restaurants and entertainment.
Rue21 adds clicks to its bricks
Welcome to the Web Rue21. The operator of nearly 1,000 stores nationwide has joined the ranks of virtually every other retailer and now sells products via the Internet.
The specialty apparel retailer focused on teens and young adults on Friday announced the launch of their online shopping site Rue21.com.
"The launch of our new e-Commerce site marks a new chapter for our company and will be key to building our brand for the future," said Bob Fisch, Rue21’s president and CEO. "We have experienced great success through the growth of our brick and mortar stores, and we look forward to building on that success by providing our customers with the same trendy merchandise at competitive prices right at their fingertips."
The launch of Rue21’s online shop will give customers across the United States access to the affordable fashion they crave, according to the company.
"It’s no secret that the business landscape is changing," said Mark Chrystal, Rue21’s SVP of ecommerce, planning and allocation. "This is just the first step for Rue21 toward a complete omni-channel experience. We are building the foundation that is required to reposition Rue21 in today’s marketplace."
To promote its belated arrival to the Internet, the company is looking to start a social conversation with a contest called, “Shop & Win." Five winners will receive a $50 gift card by talking about their favorite Rue21 items on the internet. Using hashtag #shoprue21.com, fans of the retailer can post pictures or comments on Facebook, Twitter, Tumblr, Instagram, Pinterest, and Google+.
Retail real estate still improving, thanks to Millennials
Chicago — Employment growth in science, technology, engineering and mathematics and the continuing recovery in the U.S. housing market have begun to affect all sectors of commercial real estate, according to Jones Lang LaSalle’s “Cross Sector Outlook.”
Total sector commercial real estate volumes in the first three quarters of 2013 have reached $208.82 billion, an increase of 30% over the same period in 2012, said the report.
The continuing growth is fueling occupancy and rent increases and boosting investor demand. In addition, Millennials (adults younger than 34) are becoming a larger component of the workforce and beginning to affect operations across the spectrum of commercial real estate categories.
In the retail real estate category, the JLL report said that vacancy rates should continue to inch down over the next year, as construction remains limited. Lack of new supply will extend the ongoing recovery in rents. Investor interest in the slowly recovering sector is perking up as well with investment sales growing to $33.8 billion in the first three quarters of 2013, an increase of 14% over the same period in 2012.