Development/Redevelopment

Voorhees, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced Thursday that the Rizzieri School for the Healing Arts has opened at Voorhees Town Center on the Town Center Boulevard.

The school is an expansion of the current Rizzieri Studio Salon and Rizzieri Aveda School for Beauty & Wellness.

MINNEAPOLIS — Target's entry into Canada is nearing completion, as the company Friday finalized its real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number of leases selected, including an initial group of 105 leases selected in May, to 189. From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013. The remaining leases have been or will be sold to other Canadian retailers or back to landlords.

In the December 2007 issue of Chain Store Age, I wrote about an historic structure on St. Charles Avenue in New Orleans, long-occupied by House of Bultman Funeral Home that was undergoing an extensive redevelopment to accommodate the first Borders bookstore in Orleans Parish.

Dallas -- SRS Real Estate Partners has announced the hiring of Brian Hollenback as a VP in the Denver office. 

Hollenback has been involved in over 2,000,000 sq. ft. of ground-up retail developments and has completed over 125 pad transactions throughout the Colorado market. He also has represented numerous national and regional retail and restaurants concepts as well as a variety of shopping center owners and developers in leasing their shopping centers.
 

Dallas -- SRS Real Estate Partners said Friday that it has named Mark Kapnick senior VP in the firm’s New York office.

Kapnick will join SRS’ newly formed SRS Urban team, which focuses on the major urban retail markets in the United States. In the Metro New York market, he will help lead the SRS Urban push into landlord services and investment sales.

Kapnick was previously with Robert K. Futterman and Associates, first as director then senior managing director specializing in retail leasing and investment sales.
 

Savannah, Ga. -- Citi Trends said Friday that it would cut jobs and open fewer stores than it planned in an effort to save money after losing $10 million in the second quarter. The company said it would open new stores only where it had already made commitments, resulting in about 55 new locations in 2011 and five in 2012.

The company also said it would cut 40 jobs at its stores, distribution centers and corporate offices in Savannah, Ga.

Hoffman Estates, Ill. -- A Friday report by Wall Street Journal said that Sears Holdings Corp. is in an active push to lease surplus space to other retailers. Its real estate division has listed on its website some 4,000 of its namesake and Kmart stores that have space for other merchants or retail operations to lease.

Orlando, Fla. -- Crossman & Co. said Friday it has negotiated three lease agreements totaling 4,955 sq. ft. at shopping centers in Largo and Marco Island, Fla.

Sage’s West Bay Bistro leased 2,023 sq. ft. for five years at Pinellas Shopping Center, in Largo. At the West Bay Village Town Centre, in Largo, La Chic salon and spa leased 1,632 sq. ft. for three years. And, Harrison negotiated a new lease at the Shops of Marco, in Marco Island, along with Sapphire Dry Cleaners for 1,300 sq. ft.