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Tight Supply and Diversified Demand Keep Retail Real Estate on Top, According to J.P. Morgan Asset Management
TD Bank, Abercrombie & Fitch and Ace Hardware Plan 320+ New Locations
2 Upcoming Mixed-Use Projects in Tennessee and Florida Will Add 440K SF of Retail
Sun Belt Metros Lead Major U.S. Markets in Retail Construction
New Goodwill Store Embraces 4 Retail Trends: Retro, Resale, Specialty and Experiential
World Cup Retail Traffic Gains Were Hyperlocal, Not Citywide
Baceline Consolidates Open-Air Retail Investment Vehicles in Recapitalization
Tight Supply and Diversified Demand Keep Retail Real Estate on Top, According to J.P. Morgan Asset Management
Retail has been the top-performing major commercial real estate sector over the past three years and J.P. Morgan Asset Management expects that strength to continue, according to its 2026 Mid-Year Outlook: U.S. Commercial Real Estate. The report also covered office, multifamily and industrial and said retail will keep thriving thanks to “a rare combination of constrained supply and increasingly diversified demand.” Resilient consumer spending adds to the positive forecast for retail, the report said. Another contributing factor: Average retail vacancy rates under 4.5% mean landlords face “minimal competition from new space, preserving their ability to push rents,” according to the report.
TD Bank, Abercrombie & Fitch and Ace Hardware Plan 320+ New Locations
Three big companies are expanding their brick-and-mortar footprints. Ace Hardware is closing in on 170 new stores this year, and TD Bank plans as many as 100 new East Coast branches by 2028. In addition, Abercrombie & Fitch Co. is adding roughly 30 net new stores across its brands in fiscal year 2026.
Ace Hardware Targets 170+ New Stores in 2026
Ace Hardware is on track to open more than 170 stores this year. The chain has opened 100 so far in 2026, meaning more than 70 more stores are supposed to open by year’s end. Each store is independently owned and operated. Over the past six years, Ace has opened more than 1,100 new stores. Today, it operates nearly 5,300 stores across all 50 states.
In 2024, Ace Hardware said it would invest $1 billion over five years to introduce an experiential store concept at new and existing locations. Photo courtesy of Ace Hardware/PR Newswire
TD Bank Plans Up to 100 New U.S. Branches
Toronto-based TD Bank plans to open as many as 100 U.S. branches along the East Coast in the next two years. During a second-quarter earnings call, group president and CEO Raymond Chun said some will open in 2027 but the bulk will come in 2028. Consolidation of 91 locations over the past two years enabled TD to redirect savings to new branches, he said, and the bank is identifying more opportunities for expansion through 2030. At the end of its third quarter on July 31, TD operated 1,048 branches in the U.S., down from 1,100 at the same time last year.
TD Bank will roll out 100 U.S. branches in 2027 and 2028. Above is a Massachusetts location in 2024. Photo credit: Veronique - stock.adobe.com
Abercrombie & Fitch Co. Aims for 50 New Stores in Fiscal Year 2026
Apparel retailer Abercrombie & Fitch Co. is eyeing 50 new stores and 80 remodels in the current fiscal year. During the company’s second-quarter earnings call, executive vice president and CFO Robert Ball said the new stores and remodels will be scattered across its brands — Abercrombie & Fitch, Abercrombie Kids, Hollister and YPB — and weighted toward the Americas. The plan will result in roughly 30 net new stores, as the parent company intends to close about 20 stores. Abercrombie & Fitch Co.’s second quarter ended on Aug. 1. The company operates about 850 stores in North America, Europe, Asia and the Middle East.
Abercrombie & Fitch Co. operates about 850 stores around the world, including this Abercrombie & Fitch in Estero, Florida’s Miromar Outlets. Photo credit: SRP - stock.adobe.com
2 Upcoming Mixed-Use Projects in Tennessee and Florida Will Add 440K SF of Retail
Two major mixed-use developments are moving forward with large retail components: a $350 million project breaking ground next year in Chattanooga, Tennessee, and a Stephen Ross-led development in South Florida set to start construction this fall.
$350M Chattanooga Mixed-Use Project Set To Break Ground in 2027
Construction will start in 2027 to turn a former industrial site on Chattanooga, Tennessee’s last 3,000-foot stretch of riverfront land along the Tennessee River into a $350 million mixed-use project called The Bend. Urban Story Ventures and Hill Partners’ 476,000-square-foot project will feature 218,000 square feet of retail, 41,000 square feet of office and 230 residential units, Commercial Property Executive reported. The developers envision the 28-acre project coming online in the fall of 2028. The Bend will rise next to a $300 million, 12,500-seat amphitheater scheduled to deliver in summer 2028.
The 476,000-square-foot Bend will include 215,000 square feet of retail and entertainment space. Rendering courtesy of Urban Story Ventures
Related Ross South Florida Mixed-Use Project Will Include 220K SF of Retail
Related Ross, led by Stephen Ross, just bought 32 acres in South Florida’s Palm Beach County for a retail-heavy mixed-use project. The developer paid more than $28.9 million for the land, located in the Palm Beach County village of Wellington, the South Florida Business Journal reported. The 32-acre site will be part of the proposed 71-acre Village Landing, which will feature 220,000 square feet of retail across more than 80 stores, over 100,000 square feet for restaurants, 90,000 square feet of office, a 180-room hotel and 15 condos. Related Ross expects to break ground this fall.
Related Ross plans to break ground this fall on the mixed-use Village Landing. Rendering courtesy of Related Ross
Sun Belt Metros Lead Major U.S. Markets in Retail Construction
Five Sun Belt markets led the U.S. in retail space under construction per capita, according to JLL’s United States Retail Market Dynamics Q2 2026 report. Dallas-Fort Worth topped the 22 major U.S. markets examined, with 95.9 square feet under construction per 100 people — a pipeline that outpaced the next closest metro, Tampa-St. Petersburg, Florida, at 69 square feet, by nearly 40%. JLL said DFW’s data was “consistent with the metro’s outsized population growth and pull as a corporate relocation destination.” Tampa-St. Petersburg was followed by Las Vegas at 68.7, Houston at 53.6 and Phoenix at 51. JLL based its analysis on CoStar retail construction activity data.
New Goodwill Store Embraces 4 Retail Trends: Retro, Resale, Specialty and Experiential
Shoppers at Goodwill thrift stores unearth bargains on a huge variety of resale items from clothing to household items to books. One Goodwill operator in North Carolina just added a more focused concept to the thrift mix. Rewind: A Goodwill Record & Media Store in Matthews, North Carolina — outside Charlotte — sells vinyl records, CDs, DVDs, cassette tapes and VHS tapes. A spokesperson for Goodwill Industries of Southern Piedmont told Loudwire the store also will sell music-themed apparel, collectibles, vintage audio equipment, boom boxes, turntables and record players. The store brings together “music lovers, collectors and bargain hunters in a space dedicated to the thrill of discovering physical media,” the affiliate said.
The store also is embracing experiential retail with retro arcade games that shoppers can play and a dedicated listening room to try out records before buying them.
“We are not aware of any other Goodwill stores that have this concept,” a Southern Piedmont spokesperson told C+CT.
Goodwill Industries of Southern Piedmont recently opened a used record shop in Matthews, North Carolina. Photo courtesy of Goodwill Industries of Southern Piedmont
World Cup Retail Traffic Gains Were Hyperlocal, Not Citywide
This summer’s World Cup boosted retail traffic in specific neighborhoods but not across host cities, according to Placer.ai and Colliers’ 7 World Cup Lessons for Retail, Dining & Real Estate. One of the main takeaways: Retail landlords and tenants in cities hosting mega-events should focus on neighborhood-level activities rather than gearing up for a citywide business boom. “The World Cup demonstrated that mega-events can create meaningful commercial opportunities,” the report said, “but careful analysis is needed to identify where, when and for whom those opportunities are most likely to materialize.” Location in a host city on its own didn’t drive retail traffic during this summer’s FIFA World Cup, held in the U.S., Canada and Mexico. Instead, the report said, “creating a compelling reason for customers to engage” proved to be the defining factor for retail performance. “The biggest winners were properties and businesses that aligned with the fan journey in terms of location, tenant mix, experiential offerings and event activation strategy,” the report said.
Retail and restaurant tenants near sports venues like Atlanta Stadium, fan zones and other key gathering spots — not entire metro areas — benefited most from World Cup-driven spending this summer, according to Placer.ai and Colliers. Atlanta Stadium was the name given to Mercedes-Benz Stadium during the World Cup to align with FIFA’s prohibition of branding that’s not tied to tournament sponsors. Photo credit: Visual Art Complex - stock.adobe.com
FROM THE C+CT ARCHIVE: Retailers and Landlords Prepare for World Cup’s “Gravitational Pull”
Baceline Consolidates Open-Air Retail Investment Vehicles in Recapitalization
To position itself for growth, Baceline Group recapitalized and consolidated its various investment vehicles for open-air retail centers with funding from GoldenTree Asset Management. Now, Baceline’s investment vehicles sit within a single fund structure. Financial details weren’t disclosed. Baceline’s website lists a 21-state portfolio of 140 retail properties spanning about 5 million square feet.
By John Egan
Contributor, Commerce + Communities Today