Sutter Health unveiled a $1-billion plan to construct a flagship campus in Emeryville with the goal of expanding patient access across the East Bay region. A cornerstone of the expansion is the newly acquired, 12-acre Emery Yards at Horton and 53rd streets, which was developed by Biomed Realty and which will serve as a key healthcare destination.

Spanning 1.3 million square feet at full buildout, the Emeryville campus will feature a regional destination ambulatory care complex and a new medical center with an initial capacity of up to 200 beds and room for future expansion.

“Our Emeryville campus project represents one of the most significant investments we’re making across our system over the next decade and is part of our broader vision to meet the community’s growing demand for expanded access to our services across the East Bay footprint,” said Warner Thomas, president and CEO of Sutter Health.   

Calvin Klein plans to open a flagship store at SHVO’s 530 Broadway in SoHo, parent company PVH Corp. said on its third-quarter earnings call. PVH CEO Stefan Larsson on the call called SoHo “one of the best brand-building and foot traffic locations in the world.” The new store is expected to open by the end of 2025.

The 7,294-square-foot retail store is part of Calvin Klein’s plan to open flagship locations worldwide, highlighting the ongoing return of brick-and-mortar retail. Data from research firm Forrester suggest that 72% of total U.S. retail sales will occur in brick-and-mortar stores into 2028.

530 Broadway comprises what were originally three adjacent structures on the corner of Broadway and Spring Street. SHVO acquired the early-20th century complex in 2020 and spearheaded its mixed-use redevelopment, bringing in architecture firm Snarkitecture to complete its first office project.

Vornado Realty Trust said its 52% owned street retail joint venture has entered into an agreement to sell Japanese apparel brand Uniqlo the portion of its U.S. flagship store at 666 Fifth Ave. owned by the retail JV for $350 million. Separately, Uniqlo will acquire the remainder of the store from Brookfield Properties, the owner of an office condominium branded as 660 Fifth Ave.

The JV owns the fee condo interest in 17,295 square feet of Uniqlo’s 90,732-square-foot store. In conjunction with the closing of the sale of both portions of the store, which is expected to occur in the first quarter of 2025, the pass-through leases between the office condo owner and the retail JV will be terminated.

Eastdil Secured acted as an advisor to Vornado’s street retail JV. Vornado said the JV will continue to own 23,832 square feet of retail space at 666 Fifth Ave., consisting of the Abercrombie & Fitch and Tissot stores.

Legal Sea Foods, a New England-based dining brand, has unveiled a first look at its upcoming Chicago location at Marina City, 315 N. Dearborn Street. The new flagship location is slated to open its doors in July.

“We’re transforming the Marina City space into an immersive New England dining experience,” said Matt King, President and COO of Legal Sea Foods. “The design reflects what Chicagoans can look forward to from Legal Sea Foods — fresh, quality seafood combined with the finest hospitality.”

The space was designed by Phase Zero Design and constructed by Chicago-based architecture firm Norr. The expansive river-level restaurant will seat nearly 250 guests and features a large bar area, main dining room, private event spaces and outdoor terraces overlooking the Chicago Riverwalk.

A curved staircase leads up to an upper-level Oyster Bar, with bar seating and tables for 30 guests. The menu at the new Chicago location will include Legal Sea Foods’ specialties, including clam chowder, lobster rolls, and oysters.

Landmark Properties has recapitalized The Mark Athens, a 1,364-bed, mixed-use property featuring student apartments as well as retail and office space. Located at 130 Hickory St. in Athens, GA, The Mark Athens serves students attending the University of Georgia.

Terms of the financing were not disclosed. The recapitalization of The Mark contributed to the approximately $700 million in year-end closings across a series of transactions closed by Landmark in the month of December 2023.

“The continued resilience of the student housing sector has attracted a variety of institutional investors and this successful recapitalization underscores the market’s confidence in the sector,” said Wes Rogers, CEO of Landmark Properties.  “The Mark Athens is our flagship property. Our corporate headquarters is in this building. It’s the premier asset in our hometown, and we’re glad to have a longer term capital structure in place for this building.”

Landmark developed the property in two phases with the first phase, completed in 2017, offering 928 beds, and a second phase, completed in 2022, offering 436 beds.