Corporate Governance

Berlin, Vt. -- Berlin Mall LLC announced it has cleared the last two permitting hurdles to begin an 18,700-sq.-ft. expansion of The Berlin Mall, located in Berlin, Vt. The expansion is part of a planned increase in the size of its Walmart anchor store, which will also expand into existing, adjoining retail space at the mall
     
Construction is slated to start spring 2013.
 

Arlington, Texas -- Transwestern announced Tuesday that it has negotiated a new 9,994-sq.-ft. lease for Office Depot at Lincoln Square Shopping Center, located in Arlington, Texas.

The office supply retailer will open its smaller-footprint store – a 10,000-sq.-ft. prototype, downsized from the standard 20,000-sq.-ft. format.

Lincoln Square Shopping Center is a lifestyle shopping and dining center in North Arlington’s Entertainment District.

Jacksonville, Fla. -- Regency Centers said Wednesday it has appointed Joanna Rotonde to lead the company’s acquisitions and dispositions activities in the northeastern U.S.

Rotonde will focus on the expansion markets of Boston, Philadelphia and metro New York, and is charged with identifying, evaluating and structuring profitable property acquisition and disposition opportunities within Connecticut, Massachusetts, New Jersey, New York and Pennsylvania.  

Rotonde previously served as assistant VP for Urstadt Biddle Properties.

Purchase, N.Y. -- National Realty & Development Corp. said Tuesday that Lane Bryant will open two new locations within its portfolio, Hadley Center in South Plainfield, N.J., and Northampton Crossings in Easton, Pa.

The plus-size retailer will open a 5,000-sq.-ft. store in each location. Both are slated to open in the spring.

Hadley Center is a 542,000-sq.-ft. power center anchored by Target, Kohl’s Department Store, Dick’s Sporting Goods, Regal Cinemas and Marshalls Megastore.

Valrico, Fla. -- Indianapolis-based Kite Realty Group said Wednesday that The Fresh Market has leased 18,091 sq. ft. at Lithia Crossing, located in Valrico, Fla.
 
The grocer will also open a store at Shops at Eagle Creek, in Naples, Fla. The new store will comprise 23,935 sq. ft.

New York -- Winick Realty Group said Tuesday that art gallery Garis & Hahn has leased its first location at 263 Bowery, on the Lower East Side of Manhattan.

The storefront, located between Stanton and East Houston Streets, consists of 1,789 sq. ft. on the ground floor and 633 sq. ft. in the lower level.

Albany, Ore. -- Vintage Real Estate announced said Wednesday it has appointed Betsy Penson as general manager of its recently acquired Heritage Mall, located in Albany, Ore.

Most recently Penson was general manager/marketing director for CenterCal Properties’ Blackhawk Plaza in Danville, Calif. Earlier in her career she was the general manager and marketing director for a 400,000-sq.-ft. lifestyle center, The Streets of Tanasourne in Hillsboro, Ore., and the general manager of the Lancaster Mall in Salem, Ore.

City of Commerce, Calif. -- The founding family of the 99 Cents Only Stores chain has been fired by its owners, with retail veteran Richard Anicetti and Michael Fung taking over top executive roles.

The retailer said that Eric Schiffer (CEO), Jeff Gold (president) and Howard Gold (EVP) are “no longer employed by the company” and that Richard Anicetti has been named interim CEO. Schiffer is the son-in-law of founder David Gold while Jeff and Howard are his sons.

New York -- In a Thursday report by the New York Post citing unnamed sources, the publication said that J.C. Penney CEO Ron Johnson is pushing some of its vendors to inflate their pricing so that the department store’s retail pricing appears lower than it actually is.

Sources told The Post that the plan includes putting up signs and fixturing to display fabricated retail pricing, while the merchandise is then tagged with J.C. Penney’s own lower prices.

New Delhi -- According to a Thursday report by Reuters, Wal-Mart Stores Inc. is examining the conditions around India’s decision to allow supermarkets to open stores in the country.