Industry Updates: Commercial Real Estate
Apparel Specialty Stores and Department Stores
Burlington Coat Factory will open a three-level, 92,000 sq. ft. store at 4 Union Square South in New York City, NY. Burlington Coat plans to open 20 stores a year over the foreseeable future.
Cabela’s Inc. will open a Cabela’s Outpost Store in Kalispell, MT. Construction on the 42,000 sq. ft. location is scheduled to begin in spring 2013 and it is set to open in fall 2013.
DSW Inc. has opened four new stores, located in Sangertown Square Mall in New Hartford, NY, East Town Plaza in Madison, WI, the Plaza at Cedar Hill in Cedar Hill, TX, and in the Best Buy Shopping Center in Bridgewater, NJ.
Gap Inc. plans to open four Gap Outlet stores in China. The store openings are part of the company’s global growth strategy to have approximately 45 stores in China by the end of this fiscal year.
H&M has cut a deal to open in Manhattan’s Times Square. H&M will move into the three-floor, 42,510 sq. ft. space at 4 Times Square.
Kohl’s Department Stores opened 12 new stores nationwide in September, all featuring the chain’s updated store design. Eleven of the stores are smaller format locations, with some 64,000 sq. ft. or less of retail space.
Macy’s will build a two-level, 180,000 sq. ft. store at the Shops at Summerlin, in Las Vegas, NV which is expected to open in fall 2014. In addition, Macy’s will expand its presence in the Fashion Show Mall in Las Vegas, with a new two-level, 105,000 sq. ft. Macy’s Men’s Store to open in spring 2013.
New Era opened a flagship in New Orleans, LA at 838 Canal St.
Nordstrom announced plans to open three Nordstrom Rack stores including the retailer’s first location in the state of Wisconsin. The 36,000 sq. ft. store in Wauwatosa, WI, is scheduled to open in spring 2014. A 30,000 sq. ft. store in Ann Arbor, MI is scheduled to open in spring 2013, at Arborland Center and a 35,000 sq. ft. store in Columbus, OH is scheduled to open in fall 2013, at Easton Market.
Tumi Inc. has opened a 2,000 sq. ft. flagship store on Rodeo Drive in Beverly Hills, CA.
UNIQLO opened a store in Paramus, NJ, and its first West Coast store in San Francisco, CA. The bi-level, 43,000 sq. ft. New Jersey store will be the retailer’s biggest mall store in the world, and will serve as a prototype for future mall locations.