realestate

February Real Estate Market Review

Real Estate Roundup: Top News in Commercial Real Estate Industry.

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    Welcome to Real Estate Roundup, Chain Store Age's monthly series highlighting top news in commercial real estate. Here are February's biggest stories.

    Saks Global will close its Neiman Marcus Dallas flagship on March 31 after acquiring Neiman Marcus Group for $2.7 billion. Mall of America is launching spring break events for kids and families in March and April, featuring interactive activities.

    Ohio's Crocker Park is adding seven new retail tenants this year, including Color Me Mine and Vera Bradley. Pickleball franchise The Picklr is expanding globally with JLL as its master broker, capitalizing on the sport's growing popularity.

    Simon is partnering with Shopify and Leap to offer e-commerce brands a "comprehensive solution" for brick-and-mortar expansion across Simon's portfolio. Wholesale clubs saw traffic increases in January, with Costco up 7.7%, BJ's up 7.4%, and Sam's Club up 4.7%.

    The Cordish Companies will redevelop the Millennium Hotel property in St. Louis, integrating residential, office, commercial, cultural, and public spaces into a vibrant destination. A standalone Chipotle in Torrance, California sold for $5.9 million.

    Trademark has secured letters of intent from nearly 50 tenants for its Dunham Pointe development in Houston. Spinoso REG will provide retail property management services for Grand Central Station's retail space. Tanger acquired Pinecrest, a mixed-use center in Cleveland, and Simon is upgrading Smith Haven Mall with new tenants and renovations.

    Liberated Brands filed for Chapter 11 bankruptcy, citing fast-fashion rivals and economic factors. Hilco will market 121 JCPenney-leased properties across the US. The Shops at Willow Bend in Plano, Texas will be redeveloped into a mixed-use destination called The Bend.

    Retailers focused on technology in February, including AI-enabled risk prediction, app-enabled ice cream trucks, and video customer reviews.

Real estate market trends and statistics for February, national and local analysis.