Development/Redevelopment

One of the more interesting developments in the retail industry is set to unfold in a series of small towns along the Western edge of Arkansas where Walmart is set open the first of its experimental small formats.

Encino, Calif. -- Marcus & Millichap Real Estate Investment Services said it has promoted Bill Rose to director of the National Retail Group.

Rose joined Marcus & Millichap’s San Diego office in September 2003 as a retail and multifamily investment specialist. He was promoted to senior associate in September 2006. He rejoined the firm in November 2009 as sales manager of the San Diego office and in November 2010 was named western regional director of the NRG.
 

Las Vegas -- The Forum Shops at Caesars, in Las Vegas, announced that six new stores will be opening soon, joining the 11 new stores and restaurants that have come to The Forum Shops in the past year.

The new stores include Christian Louboutin, Rimowa, Panerai, Hublot and Coach Mens – a first in Las Vegas.

Los Angeles -- SPL Realty Partners announced that it has secured a retail space for footwear retailer Aerosoles in Citadel Outlets in Los Angeles.

The 2,059-sq.-ft. store is scheduled to open on May 19 in the new third phase of Citadel Outlets, the only outlet center in Los Angeles County. The space boasts almost 50 ft. of frontage and sits adjacent to Under Armour, across from adidas and converse and steps from a large parking field.

Houston -- The Vista Cos. and Vista Spring Green, Ltd. announced that McDonald's USA has signed a 56,000-sq.-ft. ground lease at The Plazas at Spring Green.

Construction on a new 4,800-sq.-ft. McDonald’s restaurant will begin in the coming weeks and is set to open in November.

The Plazas at Spring Green, a Vista Equities Group development, is located in Katy, Texas.

St. Paul, Minn. -- Paster Enterprises announced that Whole Foods Market is opening a 32,000-sq.-ft. standalone location at the company’s Minnetonka property.

Construction on the project, a joint venture between Paster Enterprises and Shiner Capital Partners, a Chicago-based real estate investment firm, officially began on April 20.

Frisco, Texas -- New York City-based Centro Properties Group said that The Foundry Big & Tall Supply Co. has opened at Preston Ridge, located in Frisco, Texas.

The 5,000-sq.-ft. store is part of the new Growth Brands Division at J.C. Penney Co.

Preston Ridge is owned by Centro.
 

San Francisco -- Gap plans to open stores in Serbia and Ukraine later this year as its continues to expand its international operations.

The chain said Friday that it signed new deals with existing franchise partners that will put Gap stores in Belgrade and Kiev.

According to Stephen Sunnucks, the company's international president, the Ukraine is the fastest-growing retail market in Eastern Europe, while Serbia has many young customers who enjoy shopping.