T
he pulse of commercial real estate is beating strong, and Chain Store Age's Real Estate Roundup is here to give you the lowdown on the industry's top stories. Let's dive into the biggest news from March.
Batteries Plus is making waves in Hawaii with its first four stores set to open across the islands, starting with a Honolulu location on Oahu. Local entrepreneur Pierre Parranto is behind the venture, bringing specialty battery retail to the Aloha State.
Gazit Horizons has scored big in Fort Lauderdale with the acquisition of Galt Ocean Marketplace, a high-traffic center along the posh waterfront. The 105,589-sq.-ft. property sold for $35.4 million, marking a significant expansion for Gazit Horizons in the US market.
The retail landscape is shifting, and commercial real estate data firm CoStar reports that store closures have more than doubled in 2024 compared to 2023. As a result, available retail space has increased to 4.8%, the highest rate in two years.
Edikted, the digitally-native fashion brand, is expanding its brick-and-mortar presence with new stores at five Simon centers across the country in 2025. Founded in 2020 and heavily influenced by social media, Edikted has grown rapidly through organic promotion on platforms like TikTok.
Queens Center in Elmhurst, N.Y., is welcoming eight new tenants, including eateries, apparel retailers, and more. Recent openings include San Wei, Psycho Bunny, Digiso, Dave's Hot Chicken, Poke Island, Burlington, Primark, and H&M.
Easton Gateway in Columbus has added five new tenants, with three now open and two set to open soon. The 650,000-sq.-ft. retail space offers guests a diverse shopping experience.
Trademark Property Group has hired Peter Cavazos as VP of asset management, tasked with driving budget initiatives, optimizing property financial goals, and prioritizing value creation for Trademark's partners and investors.
Rent and occupancy costs have reached six-year highs in 2024, according to Datex Property Solutions' "2025 Market Outlook Report." The national average occupancy cost for retail brands rose to 7.73%, a nearly two-percentage point increase over 2023's average of 5.83%.
Ocean State Job Lot has acquired 15 Big Lots leases and plans to open up to 22 new stores this year, including the former Big Lots locations and five to seven additional locations.
CBRE reports that available anchor space in Georgia rose by a staggering 57% in 2024, with 6.8 million sq. ft. available at the end of last year, up from 4.3 million sq. ft. in 2023.
GA Group and A&G Real Estate Partners are auctioning off 790 Joann store leases and five distribution centers as part of the wind-down of operations at the 82-year-old fabric and crafts retailer.
Qdoba has added 33 new locations to its development pipeline, bringing the total number of restaurant commitments to over 500. The fast-casual Mexican chain will soon grow its footprint in the Northeast, Midwest, and beyond through several major franchise agreements.
Alo Yoga is expanding its presence at Mall of America with a 6,000-sq.-ft. "sanctuary" space, its second location in Minnesota. The brand combines fashion with fitness, blending loungewear, footwear, and wellness products with yoga studios.
Pop Mart has opened its newest store in Norwalk, Conn., marking the Asian toy and collectibles brand's first location in the state and 23rd in the US.
