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Development/Redevelopment

  • Bob Evans Farms to remodel 44 units

    New York City -- Bob Evans Farms will extend its “Farm-Fresh Refresh” renovation project to 44 locations in the Detroit and Toledo, Ohio, areas. The renovations are expected to begin in August 2011 and be finished by this November.

    The new stores will include a bakery, a carry-out area and a redesigned retail area. The updated design features murals in the entryway depicting the heritage of Bob Evans and more modern furnishings, light fixtures and brighter color schemes in the dining room.

  • Heritage Plaza, Irvine, Calif.

    The country’s largest Japanese supermarket chain will debut at Heritage Plaza, in Irvine, Calif.

    According to shopping center owner Regency Center, based in Jacksonville, Fla., it has leased 13,853 sq. ft. at Heritage Plaza to Mitsuwa Marketplace. The Asian grocer, which has eight other U.S. locations, including six in California, is slated to open in fourth quarter 2011, in a former Ace Hardware space.

  • Inland Western acquires Texas shopping center for $35 million

    Oak Brook, Ill. -- Inland Western Retail Real Estate Trust announced Wednesday the acquisition of Sawyer Heights Village in a joint venture with RioCan Real Estate Investment Trust.

    Sawyer Heights Village, a 107,626-sq.-ft. power center located just outside the central business district in Houston, was purchased for approximately $35 million. 

  • PriceSmart profit, sales up in Q3

    San Diego -- Warehouse club operator PriceSmart reported Thursday that net income for the quarter ended May 31 rose to $16.3 million, compared with $12 million in the year-ago period.

    Sales surged 23.6% to $421.6 million, from $341.2 million.

    The company had previously announced it acquired 131,524 sq. ft. of land in Cali, Colombia, upon which it will build its second warehouse club in Colombia.
     

  • Former Safeway exec joins commercial brokerage firm

    Former Safeway real estate executive Dan Clayton has joined Denver-based Laramie Company as VP leasing. He previously served as real estate director at Safeway and in his new role will focus on tenant representation and project leasing.

  • Tri-Land announces new leases

    Westchester, Ill. -- Tri-Land Properties announced Thursday that Marshalls and Qdoba Mexican Grill have joined the company’s projects in Indiana and Minnesota.

    At Southern Plaza, a 335,000-sq.-ft. Indianapolis shopping center anchored by Kroger and Office Depot, Marshalls has opened a 24,084-sq.-ft. store.

    At Century Plaza, a 300,592-sq.-ft. shopping center located in Merrillville, Ind. anchored by Staples and Old Time Pottery, Qdoba Mexican Grill has opened a 2,700-sq. ft. Mexican fast-casual restaurant.

  • Texas mall receives LEED Silver designation

    Corpus Christi, Texas -- Trademark Property said Thursday that its La Palmera shopping center has been awarded Leadership in Energy and Environmental Design (LEED) Silver for Core and Shell 2.0 established by the U.S. Green Building Council.

    Acquired in partnership with International Mall Investors in July 2008, the 1-million-sq.-ft. regional mall located in Corpus Christi is the first in the U.S. to receive the designation.

  • Brooks Brothers to open at Renaissance at Colony Park

    Ridgeland, Miss. -- Renaissance at Colony Park announced that Brooks Brothers is joining its tenant lineup and is scheduled to open a 7,500+-sq.-ft. store in Ridgeland, Miss., in November. Currently, the nearest Brooks Brothers stores to the Jackson (Miss.) metropolitan area are in New Orleans and Memphis.

    Other recent openings at Renaissance at Colony Park include Another Broken Egg Café and Apricot Lane Boutique. Opening soon are SOMA Intimates and Altar’d State Christian Stores.

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