Alexander & Baldwin, Hawaii's largest owner of grocery-anchored shopping centers, will be acquired by a joint venture that includes Blackstone's real estate business as well as MW Group and DivcoWest. The enterprise value of the deal is about $2.3 billion when including debt, and it could be finalized in the first quarter of next year. "For 155 years, A&B has grown alongside Hawaii, shaped by the people, values and communities that define these islands," said Alexander & Baldwin CEO and President Lance Parker.

Hines Global Income Trust acquired an open-air shopping center in Carmel, Ind., for $199 million. The property, known as Clay Terrace, encompasses 493,000 square feet. Hines also acquired Left Bank, a multifamily tower in Chicago's West Loop, bringing the total value of acquisitions to more than $350 million.

Turnberry Associates and Simon Property Group have purchased Florida's Esplanade at Aventura, now known as The Abbey at Aventura, for $131 million from Seritage Growth Properties. The acquisition marks a continued investment by the owners in the Aventura area, as they also own the neighboring Aventura Mall. Discussions for the purchase date back to 2016, highlighting the strategic importance of this deal for both companies.

The Shops & Restaurants at Hudson Yards in New York City has undergone a transformation over the past two years, with retail square footage reduced and repurposed into additional office space that's drawing up to 22,000 office workers to the center Monday through Thursday. The center has introduced 27 new stores and several new restaurants, while also modernizing and expanding existing retailers' spaces. Luxury brands such as Dior, Cartier, Fendi and Watches of Switzerland have seen strong performance, and the addition of local favorites like Russ & Daughters and Locanda Verde has helped create a more neighborhood-oriented atmosphere. The changes have contributed to increased sales productivity and a revitalized identity for the retail complex.

Atlas Holdings has finalized its acquisition of The ODP Corp., the parent of Office Depot and OfficeMax, in a transaction valued at approximately $1 billion that takes the company private. The deal includes ODP's retail and B2B distribution businesses, and brings the company under the ownership of a global operator with a broad portfolio in manufacturing and distribution. Atlas plans to support ODP as it refocuses on its core retail and B2B operations. Craig Gunckel has been appointed as the new CEO of ODP, succeeding Gerry P. Smith.

L.L. Bean plans to open eight stores in 2026, entering Alabama and Tennessee for the first time, and will invest $50 million to renovate its flagship in Freeport, Maine. Upgrades will include a revamped multi-tier fish pond, a larger stream tank, an expanded café, a new product personalization floor, a children's play area, and enhanced community spaces in Discovery Park. "We continue to see physical retail as an essential part of our growth strategy," says Greg Elder, chief retail officer at L.L. Bean.

ALDI is closing out 2025 with 22 store openings across 10 states, including 12 in Florida, over the next two weeks. The retailer is also planning significant changes for 2026 as part of a $9 billion US expansion that includes plans to add 800 stores by 2028. The grocer will enter New York City with a 25,000-square-foot store in Times Square and will rebrand 220 Winn-Dixie and Harveys Supermarket locations in the Southeast after acquiring Southeastern Grocers. ALDI will rebrand its private brands under a cohesive ALDI logo, although popular brands such as Clancy's and Specially Selected will remain, but with updated packaging.

Walmart is deepening its partnership with Alquist 3D after the construction company successfully completed a 3D-printed space that added nearly 8,000 square feet to Walmart's Athens, Tenn., store. Walmart has committed to working with Alquist to construct more than 12 new buildings using 3D printing technology. The collaboration is aimed at enhancing efficiency for Walmart's online order pickup and delivery infrastructure, and integrating advanced construction methods into the retailer's commercial real estate portfolio.