Development/Redevelopment

Greenville, S.C. -- Charlotte, N.C.-based The Chambers Group, an X Team partner, said it has completed a lease for the first REI in South Carolina.

The outdoor equipment retailer will join The Point shopping center, a Whole Foods-anchored property located in Greenville, S.C., and owned by Beachwood, Ohio-based Developers Diversified Realty.

REI will occupy 22,000 sq. ft. of a former Circuit City space.
 

Walmart Canada president and CEO David Cheesewright is scheduled to speak next week at the Jefferies 2011 Global Consumer Conference near Boston. Walmart doesn’t typically push country presidents on stage at investor conferences except at its own analysts’ meetings when it has hosted events overseas in such places as China earlier this year or prior years in Brazil and the United Kingdom. However there are some interesting things going on in Canada these days, and the Jefferies event is an opportunity for Walmart to showcase some of its management talent.

Honolulu, Hawaii -- Jones Lang LaSalle announced Thursday it has named commercial real estate veteran Kirk Horiuchi as senior VP in its Retail Division.

In this newly created position, Horiuchi will oversee the company’s leased and managed portfolio, and will be tasked with growing the firm’s third-party retail business in Hawaii.

Dallas -- Cypress Equities Cos. said it has expanded its leasing team with the addition of Giancarlo “GC” Carriero, who joins the firm as leasing manager.

Carriero is responsible for developing and leveraging relationships with potential tenants and facilitating leasing solutions for Cypress’ nationwide retail and mixed-use projects. 

He was previously leasing representative for General Growth Properties.
 

New York City -- Wal-Mart Stores is ramping up the opening of its mid-sized Neighborhood Market format, which is being renamed Walmart Market, said  Bill Simon, president and CEO, Walmart U.S., on Wednesday at the William Blair & Co. Growth Stock Conference in Chicago.

The Market stores, which average around 42,000 sq. ft., are delivering returns on the same level as supercenters, Simon said, and can be approved and built in less time.

Phoenix -- Karlin Real Estate has acquired through foreclosure two Phoenix, AZ-area shopping centers totaling nearly 220,000 sq. ft., following the firm's purchase of a non performing loan portfolio with an aggregate unpaid principal of approximately $65.5 million.

China ranks as the most attractive emerging market for apparel retailers, according to global management consulting firm A.T. Kearney’s 2011 Global Retail Development Index for Apparel. The report advises that as U.S. consumer confidence and the overall economy continues an uneven recovery, the nation’s apparel retailers must look to high-growth emerging markets to expand their businesses and increase revenues.

Cary, N.C. -- Convenience-store operator The Pantry is selling 114 locations located in nine states throughout the Southeast. The properties are a combination of owned and leased locations. All are operating convenience stores with gasoline, except for one standalone store.

NRC Realty Capital Advisors, Chicago, is assisting The Pantry in the sale. As of May 9, The Pantry operated 1,659 stores in 13 states under select banners, including Kangaroo Express, its primary operating banner.