Development/Redevelopment

Dallas -- The Retail Connection, L.P., Lincoln Property Company Commercial and the Fidelity Real Estate Group announced Friday that they have acquired Village on the Parkway, a 380,000-sq.-ft. lifestyle center located in the Addison area of the Dallas Fort Worth Metroplex.

The center was sold by J.E. Robert Co. after the default by its previous owner.

New York City -- Modell’s Sporting Goods announced the opening of the company’s 147th store this past weekend with the grand opening of a new 8,451-sq.-ft. store located in the Interstate Shopping Center in Ramsey, N.J.

By Sandra Gold Slon

Who needs an exit strategy? In this economy, most of us are aware of tenants facing difficulties in meeting their lease obligations. If we weren’t thinking about it front and center, it was brought front and center when Borders declared bankruptcy, closing hundreds of stores.

New York City -- Macy’s is undertaking a multi-million dollar remodel of its store in Chicago’s Water Tower Place, the Chicago Tribune reported.

The eight-floor, 227,000-sq.-ft. department store was last renovated in 1996, when it operated as Marshall Field’s. It became Macy’s in 2006.

The new décor will include a white ceramic floor, brighter lights and silver accents, the report said. The store’s first three levels will receive the lion’s share of the updates.

Orlando, Fla. -- Olive Garden plans to remodel or refresh more than half of its 700 plus restaurants across the United States to its new Tuscan farmhouse-inspired design.

Called “Via Tuscany,” the updated décor includes new tables, chairs and booths, a palette of warm, rustic tones and design elements of a farmhouse in Tuscany. Other updates include new window treatments.

Charlotte, N.C. - Resale clothing retailer Buffalo Exchange brings the original concept of buy-sell-trade clothing to Charlotte with the opening of its first North Carolina store, located in the Plaza-Midwood neighborhood at 1521 Central Avenue, in mid-April.

Fort Worth, Texas -- The Weitzman Group/Cencor Realty Services announced that Cinemark Holdings will construct a 14-screen, all-digital movie theater that will feature the company's new Cinemark NextGen design concept.   

Cinemark has entered into an agreement to purchase 10 acres in Presidio Junction, a 300-acre master-planned mixed-use development of LNR Property LLC, located eight miles north of downtown Fort Worth, Texas.

Foxborough, Mass. -- Patriot Place shopping center, located in Foxborough, Mass., announced that Charming Charlie boutique opened today, its first location in Massachusetts.