Development/Redevelopment

Tempe, Ariz. -- Self-serve frozen yogurt concept Yogurtini said Thursday it will open the first of 10 stores planned for the southern Florida area.

A unit in Coral Springs, Fla., will open on Oct. 1, marking the first of 10 franchise locations through an area-development deal with Emilio and Javier Braun.

The brothers, who are based in Miami, are in the process of opening stores in Davie, Fort Lauderdale and the Hammocks Community in South Miami-Dade County.
 

Oak Brook, Ill. -- Ace Hardware Corp. has selected Suffolk, Va., for the company’s new 336,000-sq.-ft. Import Re-Distribution Center (RDC). Construction is scheduled for completion May 1, 2012.

The facility will allow the company to reduce import and logistics costs and provide an even higher level of service to East Coast retailers, making it possible for Ace stores to more effectively respond to consumer needs dictated by hurricanes and other weather emergencies in the region.

MENOMONEE FALLS, Wis. — Kohl’s Department Stores has announced the grand opening of 30 new stores across 20 states. According to the company, these openings will create approximately 4,000 new jobs.

New York City -- Centro Properties Group US is changing its name to Brixmor Property Group, effective immediately. The name change follows the acquisition of the company in June by an affiliate of Blackstone Real Estate Partners VI L.P.

Brixmor is the second largest owner of community and neighborhood shopping centers in the United States with 585 properties aggregating approximately 92.0 million sq. ft. and has been a leader in value-creating redevelopment over the last decade.

MATTHEWS, N.C. — Family Dollar Stores announced Wednesday that it plans to open 450 to 500 new stores in fiscal 2012, a 50% jump compared with the number of openings in fiscal 2011, and will renovate, relocate or expand over 1,000 locations. The discounter also reported that its fiscal fourth-quarter net income rose 8%.

“In fiscal 2012, we intend to accelerate investments to drive sales and profitability,” said Howard Levine, chairman and CEO.

Matthews, N.C. -- Family Dollar Stores announced Wednesday that it plans to open 450 to 500 new stores in fiscal 2012, a 50% jump compared with the number of openings in fiscal 2011, and will renovate, relocate or expand over 1,000 locations. The discounter also reported that its fiscal fourth-quarter net income rose 8%.

“In fiscal 2012, we intend to accelerate investments to drive sales and profitability,” said Howard Levine, chairman and CEO.

Menomonee Falls, Wis. -- Kohl’s Department Stores on Wednesday marked the grand opening of 30 stores across 20 states. The company announced it also is remodeling approximately 100 stores this year, an 18% increase from 2010.

DEERFIELD, Ill. — Walgreens reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.

Net income for the quarter ended Aug. 31 rose to $792 million, up from $470 million in the year-ago period and surpassing Wall Street expectations.

Revenue rose 6.5% to $18 billion and same-store sales increased 4.4%.