REAL ESTATE

Ground is broken at Kentucky value center

BY Al Urbanski

Construction is underway at a planned 185,000-sq.-ft. center that will bring a top-level roster of value retailers to the western Kentucky town of Hopkinsville. Thompson Thrift is the developer.

Hopkinsville Town Center, located just north of Clarksville on the Tennessee border, will count Hobby Lobby, TJ Maxx, Ross Dress for Less, Ulta, Burke’s Outlet, Hibbett Sporting Goods, and Rack Room Shoes among its tenants when it opens in late 2017 or early 2018.

While almost completely leased out, approximately 7,000 sq. ft. of space remains available inline and on an outparcel adjacent to the future home of Panera Bread.

Leasing is being handled by The Shopping Center Group.


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REAL ESTATE

PetSmart in growth spurt

BY Marianne Wilson

The retailer opened 11 new stores in the U.S. and Canada for the quarter ending Aug. 1, 2016. This adds to the 12 new stores it opened in the first quarter, bringing the total for the year to 23.

PetSmart is on track to achieve its goal of 80 net new stores in 2016.

The new stores average around 14,000 sq. ft., with service offerings such as grooming and pet training.

“We continue to identify opportunities for growth in North America,” said Brian Amkraut, senior VP of real estate, strategy and initiatives, PetSmart. “New store locations provide us with the ability to increase customer convenience and improve our competitive position.”

PetSmart operates 1,477 stores in the U.S., Canada, Puerto Rico and 203 in-store PetSmart PetsHotel dog and cat boarding facilities.

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REAL ESTATE

Time Warner Center debuts luxury pop-ups

BY Al Urbanski

It houses one of the nation’s premier jazz performance centers, as well as Michelin-star restaurants, so New York’s Time Warner Center couldn’t have any old pop-up shops lining walkways with spectacular views of Central Park South.

The Related Companies property has introduced LMUs — luxury merchandising units — to The Shops at Columbus Circle in Time Warner Center. Conceived by the UXUS design shop in Amsterdam, LMUs are “the first line of sophisticated retail pop-ups” for retail centers, according to a Time Warner Center release.

The permanent retail modules are conceived to entice customers to walk through them and inspect merchandise without breaking stride, stated UXUS. Tenants may choose to have LMUs constructed from high-grade materials ranging from warm woods to highly polished steel.

Moleskine, La Maison du Chocolat, and Sugarfina will inhabiting the first wave of LMUs. Brands that have used pop-ups at Time Warner in the past include Hermes, Johnnie Walker Blue, and Tesla.

Related Companies is also the developer of the huge Hudson Yards multi-use project taking shape south of Penn Station in Manhattan.


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