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Welcome to Real Estate Roundup, a new monthly series from Chain Store Age highlighting top news in commercial real estate. Here are key stories from April.
Burlington acquires 45 Joann leases: The off-price retailer won lease assignments for stores across the US, which it will take over in May and June. First Look: Shaver Hall, a stylish food hall opening in NYC's "Hank" building, featuring 11 food stalls and upscale amenities. Redevelopment planned for former Saks Fifth Avenue space at The Esplanade in Palm Beach, Fla., transforming the 50,000-sq.-ft. space into luxury retail and office space.
Hudson's Bay to liquidate remaining stores: Canada's oldest company will close its six Hudson's Bay stores and one Saks Fifth Avenue location due to a lack of viable bids. Gordon Brothers acquires UK-based valuation firm SIA Group, bolstering capabilities in the UK and Europe.
Chipotle signs development agreement for Mexico debut: The fast-casual chain will open its first Mexican location by 2026 with partner Alsea. Former JLL exec Greg Maloney joins Centennial as chief strategy officer to facilitate growth. Placer.ai reports Raising Cane's and Dave's Hot Chicken saw significant year-over-year growth in Q1.
Kohl's real estate head Scott Schnuckel named managing director at CBRE: He will support Laura Barr in executing her growth plan for the unit. Ikea expanding in Texas with three smaller-format locations, including a 35,000-sq.-ft. store opening this spring. Yesway expands store footprint in Q1, opening four new Allsup's locations.
JLL introduces "The Mixx" mixed-use property management team: The service menu includes property management, marketing, and leasing advisory. Trigild retains Prism Places to manage Santa Monica Place mall after it defaulted on its loan last year.
