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Development/Redevelopment

  • Insurance Issues Too Important to Ignore

    By Robert Machson,

  • Aldi close to deal for Manhattan space

    New York City -- Aldi is close to making a deal to open its first supermarket in Manhattan, Craine’s New York reported.

    The German discount grocer opened its first store in New York City, in Queens, last year. According to Craine’s, Aldi is set to lease space at East River Plaza, located between 116th St. and 119 St. in Harlem. The shopper center already boasts such tenants as Target, Best Buy and the city’s first Costco.

  • Marsh Supermarkets earmarks $60 million for new stores and remodels

    New York City -- Marsh Supermarket will spend $60 million to build up to 10 stores and remodel or rebuild several more over the next three years, the Indianapolis Business Journal reported.

    The new stores will average 40,000 sq. ft. to 60,000 sq. ft. with a strong focus on fresh fruits and vegetables and service-oriented components, according to the report.

    Marsh operates of 70 namesake stores and 27 smaller-format Mainstreet Market stores. It is privately held, a portfolio company of private equity firm Sun Capital Partners.

  • Belk to unveil new design at Waynesville Commons

    Waynesville, N.C. -- Shopping center developer CBL & Associates Properties, based in Chattanooga, Tenn., said Friday that it has launched construction on its newest community center project Waynesville Commons, located in Waynesville, N.C.

    The 127,500-sq.-ft. shopping center will be anchored by a new 85,000-sq.-ft. Belk fashion department store, which joins the existing Walmart.

  • Banana Republic opens first store in Russia

    San Francisco -- Gap has opened its first Banana Republic store in Russia, in Moscow's AfiMall City. In related news, the company will open its first Gap store in Belgrade, Serbia, on Friday.

    “We are very proud to not only be introducing Banana Republic to Russia, but also opening our 200th franchise store,” said Stephen Sunnucks, president, international, Gap. “This is a significant landmark for our goal of growing our franchise store base to 400 by 2014.”

  • Walmart expands reach with new smaller-format store in Midwest City, Okla.

    MIDWEST CITY, Okla. — Walmart is gearing up to open a Neighborhood Market store this month in Midwest City, Okla.

    The 40,000-sq.-ft. format will offer customers quick access to low-cost groceries, prescriptions and household products. The store officially will open its doors on Sept. 21.

    As previously reported, Walmart president and CEO Bill Simon said that the Neighborhood Market format is being rebranded as Walmart Market.

  • Conn’s swings to Q2 loss on charges

    Beaumont, Texas -- Conn's said Wednesday it lost $3.4 million in the second quarter, compared to net income of $1.6 million the year before. The company said that the loss was due to one-time charges, which included $3.7 million for closing three stores and $11.1 million for repaying a loan earlier than expected. Without those items, the company would have earned $5.5 million.

    Revenue fell 13% to $184.4 million on declining sales of TVs and computers.

  • Grosvenor Americas makes executive appointments

    Washington, D.C. -- Grosvenor Americas said Wednesday it has appointed Jonathan E. Carr to the position of development manager in the company’s Washington, D.C., office. He previously held the same title in Grosvenor Americas’ San Francisco office.

    The company also announced that Michael Ward has been appointed to the position of VP in the company’s Calgary office. He previously served as VP for Grosvenor Americas in Washington, D.C.
     

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