Milwaukee — Target has unveiled plans to open a 128,512-square-foot, two-story store at Bayshore in Milwaukee. The retailer will occupy the space within a former Boston Store. Construction is now underway, but the opening date has not yet been determined. Mid-America Real Estate – Wisconsin LLC represented both Target and Bayshore ownership in the lease transaction. Bayshore is an open-air shopping center that features a variety of retail shops, restaurants, offices and multifamily units. Cypress Equities is the owner.
Austin, Texas — Whole Foods Market has opened its 35,000-square-foot store at Saltillo, a mixed-use development in East Austin by Endeavor Real Estate Group. The store has served as a fulfillment center for other regional stores during most of the COVID-19 pandemic. The store now offers fresh produce from 75 different growers, full-service meat and seafood departments, a bakery, coffee kiosk and more than 1,000 different wines and 280 different beers, including 150 selections from local alcoholic beverage suppliers.
Waldorf, Md. — The Republic Family of Cos. has broken ground on Waldorf Park, a 35,000-square-foot retail project in Waldorf. The development is expected to open in the first half of 2021. Committed tenants at Waldorf Park include Chick-fil-A, Jersey Mike’s and Starbucks. The property is located along Crain Highway, about 20 miles southeast of downtown Washington, D.C. Venture Construction Co. is the general contractor for Waldorf Park, and Jimmy Richards & Sons Excavating is the site contractor. The architect is Brasher Designs. Sandy Spring Bank provided construction financing.
Leawood, Kan. — AMC Theatres has delayed its U.S. reopening date until July 30. The company will resume operations of 450 U.S. theaters as part of a phased plan that is expected to bring the 600-plus U.S. theaters to full operation by early August. AMC says the new reopening date aligns with updated release timing for major movies such as “Tenet” on Aug. 12 and “Mulan” on Aug. 21. Previously, AMC had expected to be fully open globally in July when Christopher Nolan’s spy film “Tenet” was scheduled to release …
Los Angeles — Lowe has launched Retail reVision, its platform to reposition retail real estate. Under the initiative, the Los Angeles-based developer will target underperforming retail properties and partner with new and existing owners to manage or advise redevelopments. Lowe seeks properties that are regional draws, such as malls, community, lifestyle and power centers that are located in urban and suburban infill markets where Lowe currently operates. Target markets are California, the Pacific Northwest and Mid-Atlantic regions, the greater Denver and Phoenix metropolitan areas and the Carolinas. Lowe has named Joel …
Oakland County, Mich. — The dispute between Simon Property Group Inc. (NYSE: SPG) and Taubman Centers Inc. (NYSE: TCO) over a planned merger will move to a mediation phase. James Alexander, a circuit court judge with the state of Michigan, has ordered that the mediation phase be completed by July 31 and that the companies must be ready for a trial by mid-November. On Thursday, Taubman shareholders voted to approve and adopt the previously announced merger agreement dated Feb. 9 and says the company is “ready, willing and able to …
Seabrook, N.H. — BJ’s Wholesale Club will open a 90,000-square-foot store in Seabrook, approximately 50 miles north of Boston. The newly constructed building will be located on a 20-acre site on the crossroads of Interstate 95 and State Routes 107 and 1. The store will anchor several nearby parcels planned for future commercial development. Slated for delivery in 2021, the new store will be BJ’s seventh in the state. Waterstone Properties owns the development site.
Huntley, Ill. — Principle Construction Corp. has completed the conversion of a former Chevrolet auto dealership in Huntley into a brewing facility and full-service restaurant for More Brewing. The property is located at 13980 Automall Drive within metro Chicago. The 25,302-square-foot building includes 11,302 square feet of beer production space and a 14,000-square-foot restaurant with two private dining rooms that will double as barrel-aging rooms. Guests dining at the restaurant will be able to view the brewing area through 12-foot glass walls. The property features four drive-in doors for the …
Litchfield Park, Ariz. — SRS Real Estate Partners has arranged the sale of a large portion of Wigwam Creek Shopping Center, located at 13000 and 12958 W. Indian School Road in Litchfield Park. A Colorado-based family office sold the asset to a California-based private investor for $9.2 million. Built in 2002, Wigwam Creek Shopping Center totals 33,792 square feet. Anytime Fitness, Baskin Robbins, Subway, Fantastic Sams and Leslie’s Poolmart are among the 17 tenants that fully occupy the property. The center also includes Albertsons, McDonald’s, BBVA Bank, Circle K and …
New York City — Macy’s Inc. will lay off 3,900 employees in corporate and management positions, representing approximately 3 percent of its total workforce, according to a company statement issued today. Macy’s expects the reduction of staff to save approximately $365 million in operating costs for its 2020 fiscal year. Macy’s recently projected that it would show a $1.1 billion loss in operating income for its first quarter ending in early May, a result of temporary and permanent store closures, as well as significantly reduced sales amid the COVID-19 outbreak. …