REAL ESTATE

Bealls to launch new specialty store concept, Bunulu
New York -- Bealls Inc., the 100-year-old Florida-based department store retailer, is developing a specialty store concept, called Bunulu, which will debut by the end of 2015.

The new banner, which already has its own website, Bunulu.com, will target a younger demographic, and feature coastal-inspired active lifestyle apparel and accessories for both men and women. National brands will be featured.
IT’SUGAR and Buckle to open at Colorado Mills
Lakewood, Colo. -- Colorado Mills will add IT’SUGAR this March and Buckle during this fall to its current mix of more than 200 stores. These new retailers follow openings by Calvin Klein, Michael Kors Outlet and Villa Fresh Italian Kitchen.

IT’SUGAR will be located in Neighborhood 4 near American Eagle Outfitters Factory Store. Buckle is also coming to Neighborhood 4.

Bayer launches redevelopment of historic Pizitz Building

Birmingham, Ala. -- Bayer Properties has begun construction on the $66 million redevelopment of the historic Pizitz Building, located on the corner of 2nd Avenue North and 19th Street in downtown Birmingham, Alabama.

The building’s top six floors will be dedicated to residential space with 143 multi-family apartments. The Pizitz Building will also have a mezzanine level with modern, temporary office space, a ground level featuring a public urban market, and an attached seven-level parking garage.
Cabela’s to open new store in Ohio, in spring 2016

Sidney, Neb. -- Cabela’s Incorporated announced plans to open a store in Centerville, Ohio, in the greater Dayton area.

Construction on the 70,000-sq.-ft. store is scheduled to begin in 2015, with a spring 2016 opening. It will be located in the Cornerstone at Centerville development. Oberer Development Company is the developer.
Los Angeles-area Kohl’s sells for $22 million

Irvine, Calif. -- Hanley Investment Group announced that Ed Hanley, Kevin Fryman and Eric Wohl negotiated the sale of an 88,000-sq.-ft. Kohl's Department Store, located in the Los Angeles area. The single-tenant triple-net leased property sold for $21,950,000, representing a historic national record-breaking low cap rate of 4.80%.   
Shops at Highland Village to get multi-million dollar makeover

Dallas -- Trademark Property Co., the operating partner for The Shops at Highland Village, has announced a multi-million dollar renovation of the 352,000-sq.-ft. shopping center that includes enhanced common area improvements, upgraded landscaping, new amenities for adults and children, updated facades, and new signage throughout the property.
Coach to open Paris flagship

New York -- Coach announced it will open its first Paris flagship, timed to coincide with the brand’s 75th anniversary. The store, located on the famed Rue Saint-Honoré, is expected to open this fall.
Dolce & Gabbana to open flagship in SoHo

New York -- Dolce & Gabbana will open a flagship store in the 15,000-sq.-ft. 155 Mercer Street building in the SoHo area of New York City.

Thor Equities leased the entire building to the Italian luxury fashion house, which plans to re-create the original brownstone façade.

Originally built in 1855 as Firemen’s Hall, the historical property was most recently home to dance performance venue the Joyce Theater. The four-level building includes 50 ft. of frontage on Mercer Street.
Shopko accelerating expansion of Shopko Hometown format; 20 stores opening in March

Green Bay, Wis. -- Shopko on Monday announced plans to open 20 new Shopko Hometown stores in late March. The company recently acquired the rights to occupy the 20 stores, with locations primarily in Texas, North Dakota, Kansas and Minnesota, which were previously operated by Alco Stores.

The conversion to the Hometown banner will include a mix of new interior and exterior signage, carpet, paint, updated and supplement fixtures and lighting, improved store design and layout, as well as an expanded merchandise mix.
Cost Plus World Market to open second New Jersey store

Shrewsbury, N.J. -- Cost Plus World Market, a division of Bed, Bath & Beyond, has secured a new 15,000-sq.-ft. space at 490 Broad Street, Shrewsbury, New Jersey. It is the retailer’s second store in the New Jersey area (Monmouth County), having opened its first Northeast store in July 2014 at 530 W. Mt. Pleasant Avenue in Livingston, New Jersey (Essex County).