Strategy

Baltimore -- Oak Brook, Ill.-based Inland Western Retail Real Estate Trust announced that Reisterstown Plaza Associates LLC, one of its wholly owned subsidiaries, has signed a lease with Big Lots to occupy a 35,000-sq.-ft. location at Reisterstown Road Plaza in Baltimore.

The Big Lots is slated to open this fall and brings the center to more than 92% leased.
 

Mansfield, Conn. -- Westport, Conn.-based Charter Realty & Development Corp. said that ground was broken on Storrs Center, a new mixed-use town center to be located adjacent to the University of Connecticut in Mansfield.

At completion, the project will include approximately 200,000 sq. ft. of retail space, 700 residential units, and significant open space.

Philadelphia -- Pennsylvania Real Estate Investment Trust announced that J.C. Penney, Nordstrom Rack, Bravo Cucina Italiana and Forever 21 will join The Cheesecake Factory in 190,000 sq. ft. of anchor space formerly occupied by Strawbridge’s at Willow Grove Park in suburban Philadelphia.

The reconfiguration of the former Strawbridge’s store sets the stage for continuing the fashion-oriented merchandising strategy that differentiates the mall and appeals to a wide range of shopping and dining tastes.

Phoenix -- Cole Real Estate Investments announced Monday that it has signed leases totaling approximately 278,000 sq. ft. at Cole-related retail properties through the first half of 2011.

The leases consist of approximately 129,000 sq. ft. of new leases and approximately 149,000 sq. ft. in renewals, bringing the occupancy rate for Cole’s portfolio of more than 1,450 properties to 97.3%.

WASHINGTON — Amazon and other online-only retailers have been dealt a major blow, as legislation introduced last week seeks to require such retailers to collect sales tax.

The Main Street Fairness Act would allow states that have adopted the Streamlined Sales and Use Tax Agreement to require out-of-state sellers to collect sales tax whether they have a physical presence in their state or not. The bill would cover all “remote sellers,” which include online retailers, catalog merchants and “1-800” offers on radio and television.

NEW YORK  — The end of Borders as we know it may be drawing near. According to court papers filed with the U.S. Bankruptcy Court in Manhattan, Borders Group is planning to auction off its intellectual property, including the Borders brand name and the Borders.com website, in a move that will enable the brand to live on after liquidation in a limited fashion.

The Sept. 14 auction, which will sell off the logo, trademarks, website, customer lists and other intellectual property, is expected to draw millions of dollars worth of offers.

LAKELAND, Fla. — Investors will wish even harder that Publix would go public, now that the company has reported strong quarterly results and a jump in its private stock price.

Publix, which is not publicly-traded company, said that its stock price rose from $21.65 per share to $22.05 per share, effective Aug. 1. The stock is only available to current Publix associates and members of its board of directors.

MINNEAPOLIS — Target announced that it has donated $15,000 in monetary support and product to assist with Minot, N.D. flooding relief efforts. The company said its donation will help four Minot schools, including Long Fellow, Perkett, Eric Ramstad and Lincoln. Each school will receive $3,000 to support classroom relocation efforts due to flood damage.                             .

SALISBURY, N.C. — Delhaize America announced that it is expanding its Food Lion distribution center in Dunn, N.C.

The company said the distribution center, which opened in 1987 and services 264 Food Lion stores in the area, will increase storage space by 54,000 sq. ft. to accomodate more than 4,000 refrigerated and frozen foods.

HOFFMAN ESTATES, Ill. — Sears Holdings announced that Edgar Huber has joined the company as CEO and president of Lands' End.  Huber is responsible for driving growth and profit opportunities for Lands' End, as well as continuing to drive the culture that provides customers with the quality, value and service that the brand has long been known for.  He was most recently EVP global business development for Liz Claiborne Inc.