Deals

Frisco, Texas -- The City of Frisco executed a Memorandum of Understanding with Forest City Development and its partner, Ernest Mahard Jr. to develop a 320-acre mixed-use development on the southwest corner of the Dallas North Tollway and U.S. Highway 380. 

Bounded by Virginia Parkway and County Road 26, this development will encompass retail, residential, office, entertainment, hospitality, municipal parks and services. 

Milford, Conn. -- Subway Restaurants said Friday that more than 2,000 franchisees are actively searching for locations slated for 2011 openings.

In order to reach its development goals, the chain said that a contingent of Subway representatives will be manning the brand’s booth at the International Council of Shopping Centers’ RECon convention, May 23 to 25, in Las Vegas.

Austin, Texas -- The Weitzman Group announced that Bradley Bailey has been named senior VP and director of investment sales for Central Texas and The Valley for The Weitzman Group.

Bailey will work with Lance Morris, president of The Weitzman Group in Austin, and David Nicolson, president of Weitzman’s San Antonio office. 

In this new position, Bailey will handle investment sales and marketing for retail and commercial properties. 

Bronx, N.Y. -- New Rochelle, N.Y.-based Welco Realty Inc., an X Team partner, announced that Daffy’s opened its first store in Bronx, N.Y.  

The retailer opened a store in Bay Plaza Shopping Center, one of the largest strip shopping centers in New York City. Welco Realty negotiated the deal on behalf of the landlord, Prestige Properties & Development Co.  

 Norwalk, Conn. -- Construction and engineering company Emcor Group Inc said it agreed to buy privately owned USM Services Holdings Inc from Transfield Services Ltd. for $255 million in cash to broaden its position in the facilities and maintenance services business.

Indianapolis -- Simon Property Group Inc. announced that its Premium Outlets division has reached an agreement with the Gila River Indian Community's Wild Horse Pass Development Authority to develop Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas. 

New York City -- Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.

Beachwood, Ohio -- Shopping center owner and developer Developers Diversified Realty Corp. said Wednesday it will raze Terrell Plaza shopping center in San Antonio, Texas, and an existing two-story enclosed mall at Tamarac Square in Denver, Colo., to accommodate Target Corp.’s construction of two new stores.

DDR said it intends to redevelop adjacent retail space at both centers.