REAL ESTATE

Chattanooga, Tenn. — In an April 11 conference call, CBL & Associates Properties provided an in-depth review of its business strategy, including a number of initiatives designed to enhance shareholder value.

On the conference call, the Company outlined the following goals and objectives through a slide presentation:

Position the portfolio to produce sustained same-center net operating income (NOI) growth of 2-4%, about double the current range of 1%-2%;

Virginia Beach, Va. — Divaris Real Estate has announced four leases totaling 29,099 sq. ft. of retail space in the Hampton roads area of Virginia.

PetSmart has taken 14,286 sq. ft. at Peninsula town Center in Hampton. As the chain’s exclusive representative in Virginia, the Richmond office of DRE represented PetSmart in the negotiations.

Ulta has signed a lease for 10,500 sq. ft. in Crossways Shopping Center in Chesapeake. DRE’s Virginia Beach office represented the landlord, JLP-Chesapeake in the transaction.

Las Cruces, New Mexico — The family-fun Natural Grocers has opened its fifth New Mexico location in Las Cruces at 3970 E. Lohman Avenue.

The national chain has locations across Colorado, Texas, Utah, Wyoming, Oklahoma, Missouri, New Mexico, Montana, Kansas, Idaho, Nebraska, Arizona and Oregon.

London -- British luxury fashion brand Burberry blends digital and physical retailing at its new flagship in Kerry Centre, Shanghai. The three-floor location has been designed to offer multi-sensory experiences for its customers.

 Inspired by Burberry’s Regent Street flagship in London, the Shanghai store incorporates British craftsmanship and materials with cutting-edge technologies, starting with an illuminated façade that responds to changes in weather and natural light and also displays programmed animation.

Richmond, Va. — Divaris Real Estate has announced the signing of two retail leases in the greater Richmond suburb of Midlothian.

Tex-Mex restaurant Chuy’s has leased 7,449 sq. ft. in the Village at Swift Creek in Midlothian. The Richmond office of DRE represented the landlord, Swift Creek Associates. This will be Chuy’s second Richmond location. Chuy’s will join Guitar Center, Babies “R” Us, TGIF, Red Lobster and Cracker Barrel in the development.

Littleton, Colo. — General Growth Properties plans to redevelop its 1.3 million-sq.-ft. Southwest Plaza in southwest Denver. The multi-million dollar project will renovate Center Court with open-air cafes, new seating areas, free WiFi access for social networking, new directional signage, indoor fireplaces, skylights and light coves.

Chicago — Fresh Thyme Famers Market has leased 25,000 sq. ft. at Cress Creek Square in Naperville, Ill., from Arthur Goldner & Associates. Office Max will vacate the space, and the grocer will open in 2015. CBRE represented Fresh Thyme in the transaction.

The center also hosts Binny’s, Blast Fitness and Car Quest as well as several smaller lifestyle stores and restaurants.

New York -- A new retail concept, coop & spree, will open its first location this August, in the trendy Nolita section of Manhattan. Targeted at stylish young women, the store will combine apparel and accessory designers from around the world with interactive technologies. Digital tablets will be located throughout the space to help customers build and accessorize outfits, while the in-store photo booth will allow shoppers to share style inspiration with friends.