REAL ESTATE

  • Downtown L.A. continues resurgence with two major projects

    Los Angeles -- Commercial builder Bernards is currently constructing two major downtown Los Angeles mixed-use projects: Grand and 12th, a major multifamily project in the popular South Park district, and Olive at Pico – both owned by The Wolff Company and designed by TCA Architects.

    “[Grand and 12th] and Olive at Pico are vital residential projects and will fulfill an immediate need for housing in downtown Los Angeles,” said Carl Vizcarra, project executive with Bernards.

  • Academy Sports to open third Tulsa-area store

    Owasso, Okla. -- GBT Realty Corporation announced that it has locked in a third Academy Sports & Outdoor location for the Tulsa area, in the suburb of Owasso, Oklahoma. GBT acquired the 5.8-acre site on Dec. 30 for $2 million. Construction is underway on the $10-million development.   

  • Scottsdale Fashion Square Mall hosts large-scale Super Bowl event

    Santa Monica, Calif. -- Mall owner Macerich is hosting a large-scale, week-long public event at its Scottsdale Fashion Square property, as a tie-in to the NFL’s Super Bowl XLIX showdown on Feb. 1 between the Seattle Seahawks and the New England Patriots. Fan Fest Scottsdale, held Jan. 26-Feb. 1, is designed to attract thousands of fans converging on metro Phoenix for pro football's biggest game of the year.  

  • Retail Rap: You Win Some, You Lose Some

    Overall holiday shopping season sales numbers have been rolling in, and the news confirms what many retail real estate analysts (including myself) suspected: 2014 holiday sales were strong. Nothing earth-shattering — but plenty good enough to chalk this one up as a win. There were some bright and not-so-bright spots (December sales were weaker than expected, for example, and numbers didn’t hit some of the more optimistic overall projections), but the takeaway is that we did see the anticipated increase that the industry was looking for.

  • Five new tenants to open at Northville Park Place

    Livonia, Mich. -- Schostak Brothers & Company has completed leases for five new tenants at its Northville Park Place property, located in Northville, Michigan.

    A joint venture between Schostak Brothers & Company and REI Investment Group, the 65,000-sq.-ft. mixed-use development is set to welcome: Tom + Chee grilled cheese and tomato soup restaurant; Red Olive restaurant; Sports Clips; Gazelle Sports; and MOD Pizza.

  • Saks Fifth Avenue Off 5th to open at Minneapolis City Center

    Minneapolis -- Shorenstein Properties LLC and Saks Fifth Avenue Off 5th announced that Saks Fifth Avenue Off 5th has signed a lease for 40,321 sq. ft. in the retail portion of Minneapolis City Center, continuing the fashion retailer’s 25-year presence in downtown Minneapolis. The new store is slated to open April 2016.

    “This city has been a strong market for us, and Minneapolis City Center provides us with a vibrant location in which to serve our exceedingly loyal customers,” said Jonathan Greller, president of Outlets, HBC.

  • Rite Aid names group VP, real estate

    Camp Hill, Pa. -- Rite Aid Corporation announced t that Ray Payne, currently VP, real estate west coast, has been promoted to group VP, real estate. Payne succeeds Karen Smith, who retired last year after more than 35 years with the company.

    In his new position, Payne will be responsible for developing and executing the company’s real estate strategy nationwide, including establishing a pipeline of properties for new and relocated stores.

  • Uniqlo to enter Canada

    New York -- Uniqlo will enter Canada in the fall of 2016, opening a store at Yorkdale Shopping Centre, Toronto, and one at the Toronto Eaton Centre.

    Uniqlo currently operates some 1,500 stores, with locations in Japan, Australia, China, France, Germany, Hong Kong, Indonesia, Malaysia, Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the U.K. and the United States.

  • Michael Kors to open Tokyo flagship

    New York -- Michael Kors is pleased to announce that it will open its largest Japanese flagship store this fall, in Tokyo’s Ginza district. The store will be the first in the world to carry every category offered by the global luxury lifestyle brand.

  • DLC Management promotes leasing execs

    Tarrytown, N.Y. -- DLC Management Corporation announced the promotions of Adam Greenberg and Heather Moon from associate directors of leasing to directors of leasing for their respective regions.
     
    According to DLC, both Greenberg and Moon have demonstrated strong deal-making skills through the number of deals they have completed in any given year, problem-solving for key spaces/vacancies, and the execution of overall property business plans.

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