REAL ESTATE

Online retailer Respect Your Universe to open its first store

BY Dan Berthiaume

Portland, Ore. – The online active lifestyle apparel retailer Respect Your Universe has signed a five year lease with General Growth Properties Inc. to open its initial flagship store in downtown Seattle at Westlake Center. The retailer has partnered with Los Angeles-based architect and retail strategist Richard Altuna to design the 2,082-sq.-ft. flagship store.

RYU anticipates that the store will open in late December 2013 to capture a portion of holiday sales and will undergo transition into the full flagship design in time for the grand opening in late March, 2014.

The company’s near -expansion plan includes an outlet store which is currently in the final stages of negotiations and is expected to open in early 2014. In addition, RYU has begun discussion with another premium mall landlord for a second flagship store with a target opening in the first half of 2014.

"This is a milestone for RYU as it demonstrates GGP’s belief in our new retail concept in a location that generates significant retail traffic,” said CEO Craig Brod. “This marks a milestone step in our efforts to reposition our brand and to execute our retail expansion strategy."

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REAL ESTATE

EDENS earns two ICSC Gold awards

BY Michael Fickes

Washington, D.C. — ICSC has named EDENS the winner of two gold awards for its Mosaic development in Fairfax, Va. The awards were for the ICSC United States Gold Design and Development Award in the categories of New Development and Sustainable Design. ICSC announced the winners at the annual Retail Green and CenterBuild Conference in Phoenix.

Recognized with 22 Best of DC Shopping awards since opening last fall, The 1.9-million-sq.-ft. Mosaic is a LEED Silver-certified urban neighborhood development. The urban grid design features 500,000 square feet of national and local retail, 1,000 residential units, 112 LEED-certified townhomes, a 148-room boutique hotel, 73,000 square feet of Class-A office space, 4,000 parking spaces, as well as two parks and additional open space for neighborhood festivals, performances, and gatherings.

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The Fresh Market is going to Jupiter, Fla.

BY Michael Fickes

Jupiter, Fla. — The Fresh Market has signed on as anchor tenant at The Shops at Fisherman’s Wharf in Jupiter, Fla., according to Elion Partners, a real estate investment firm that acquired the property in August. The specialty grocer plans to open in the summer of 2014.

Now under renovation, the 5.5-acre shopping plaza will soon resemble a European village with a pedestrian-friendly setting and a selection of new retailers.

The multimillion-dollar renovation includes the construction of a new 20,900-sq.-ft. building for The Fresh Market, renovations of two existing buildings, sidewalk improvements and new parking. During the renovation, the plaza’s existing retailers remain open for business.

Prime Sites Inc. represented The Fresh Market in the transaction.

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