Corporate Governance

As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with Jones Lang LaSalle’s Lew Kornberg about what his expectations are for the big real estate show. Visit JLL’s booth at RECon, Central Hall, C1001.

What are your expectations for RECon 2012 in terms of activity, attitude, priorities?

As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with DLC’s Daniel Taub about what his expectations are for the big real estate show. Visit DLC’s booth at RECon, Upper South Hall, S2235.

This might not come as a huge surprise, but “irrational exuberance” is unlikely to be on prominent display. What have, in the past, been lavish spending habits of RECon attendees have been diminished in recent years, and I think the 2012 event will be no exception.

Chattanooga, Tenn. -- CBL & Associates Properties and Horizon Group Properties said Tuesday that construction will begin immediately on the second phase of The Outlet Shoppes at Oklahoma City.

The 28,000-sq.-ft. expansion is scheduled to open in November and will bring Columbia Sports, Ann Taylor Loft, Waterford, Kenneth Cole, Lucky Brand and more to the center.

Geneseo, N.Y. -- Purchase, N.Y.-based National Realty & Development Corp. said that CountryMax, a family-owned and operated retailer of pet, farm and lawn & garden supplies, has opened at Geneseo Towne Plaza, in Geneseo, N.Y.

CountryMax opened at the center April 4th and occupies 17,600 sq. ft. In addition to CountryMax, the center is anchored by The Goodwill Store and Grossman’s Bargain Outlet.
 

Rockville, Md. -- Divaris Real Estate, Virginia Beach, Va., said that Joseph Farina has been named manager of the firm’s Washington, D.C., regional office located in Rockville, Md.

Farina will focus on commercial sales and leasing services to support the expansion of DRE’s portfolio of leased and managed properties in the greater D.C., metropolitan area. 

Dallas -- Cypress Equities said it has hired Steven Hrbek as property manager for The Streets of Woodfield, located in Schaumburg, Ill.

Hrbek will be responsible for onsite management and operation of the open-air, core retail center featuring more than 700,000 sq. ft. of retail space. He was previously senior real estate manager for CB Richard Ellis in Downers Grove, Ill.
 

Williamsburg, Va. -- Divaris Real Estate announced it has been appointed the exclusive leasing and management firm for The Marquis, located in Williamsburg, Va.

The Marquis is a 750,000-sq.-ft., regional power center. At its completion, The Marquis will be the largest retail development in Williamsburg, featuring specialty retailers and restaurants and several big-box retailers including Target, Kohl’s, Dick’s Sporting Goods, Best Buy and J.C. Penney.

Fort Meyers, Fla. -- Chico's FAS Inc. said Wednesday that its fiscal first-quarter net income rose a better-than-expected 17% to 53.6 million in the three months through April 28, compared with $45.9 million a year ago. The chain also bumped up its revenue outlook for the year.

Revenue rose 21% to $650.8 million, beating expectations, from $537.2 million a year ago. The company September acquisition of women's clothing chain Boston Proper added $33.7 million in sales during the quarter.

Framingham, Mass. -- Staples Inc. said its first-quarter net income fell 6% to $187.1 million, compared to $198.2 million a year ago, hurt by weakness abroad.

Total sales fell 1.1% to $6.1 billion. International sales, which account for roughly 20% of the company’s total revenue, dropped 8% to $1.2 billion. In the United States, Staples’ revenue was flat.