Despite a national slowdown in retail construction, the Phoenix metropolitan area stands out with significant ongoing retail growth. Vestar has announced plans for the $1 billion Legacy Park, a 9.4 million-square-foot mixed-use development in Mesa, Ariz. The project's first phase will feature a 300,000-square-foot shopping center and 700 residential units, with future phases including a hotel, office space and parks. The project is expected to break ground in 2027.

Deal volume in the single-tenant net-lease retail market gained 9.6% in the first half of 2025 compared with a year ago, reaching $5.7 billion, according to Colliers. In addition, the median price increased to $309 per square foot, gaining 8%.

Stockbridge Capital Group has returned to the South Florida retail market with the $118.4 million acquisition of Uptown Boca's retail component. The 150,591-square-foot retail center in Boca Raton, Fla., features Whole Foods Market, REI and Sephora.

The Shops at Stone Bridge, a retail center in Cheshire, Conn., is set for a grand opening on Dec. 13. Managed by Regency Centers, the property will feature 10 stores upon opening, including Barnes & Noble, Chipotle and Shake Shack, with additional retailers such as Whole Foods Market and T.J. Maxx opening later.

Bed Bath & Beyond has finalized its $10 million acquisition of the Kirkland's Home brand and related assets from Brand House Collective. The purchase builds on an existing partnership and accelerates the conversion of Kirkland's Home stores to Bed Bath & Beyond Home, with plans to convert about 75 stores through next year. The companies will also expand Kirkland's Home into wholesale deals with independent US retailers.

Lidl's growth strategy centers on expanding in core urban markets such as New York City, Atlanta and Washington, D.C., aligning with expansion plans that include opening more stores in the New York metro area, with a long-term focus on growing its US presence. "When it comes to choosing new store locations, we look for convenient locations for our customers that can support high traffic volume daily," says Alan Barry, executive vice president of real estate and operations.

PayMore will open its 100th store, in Charlotte, N.C., driven by demand for secondhand electronics and rising prices from tariffs. The chain, which began franchising in 2020, has grown 500% in the past two years and plans to open 50 more stores this year and 640 over the next five years, including 180 abroad. PayMore's tech-powered physical stores provide a modern, secure space for selling and buying used electronics, supported by proprietary tools that streamline both in-store and online sales.

Canada-based luggage retailer Monos is stepping into the US market with plans for five brick-and-mortar stores in Boston, Los Angeles, Chicago, New York City and Washington, D.C. The move is a shift from the brand's online-first approach, in a push to connect with American customers through in-person experiences. The expansion into US retail follows lessons learned from its Canadian stores and leverages existing US distribution centers.

Retail sales were up 0.6% in August compared with the prior month, with the gain aided by back-to-school shopping, according to the Commerce Department. Nine of the 13 categories tracked in the report saw gains.