Development/Redevelopment

Atlanta -- Commerce, Mich.-based LaVida Massage said it will open a new location in Kennesaw, Ga., a suburb of Atlanta.

The new, 2,692-sq.-ft. center, a franchise location, is slated to open in early April.

Little Rock, Ark. -- Dillard's said Tuesday that its net income grew 38% in the fourth quarter as its sales improved and the retailer controlled expenses and inventory.

Dillard's earnings rose to $109.6 million in the three months ended Jan. 29, compared with $79.5 million one year earlier.

Sales rose 5% to $1.93 billion from $1.83 billion, with merchandise sales up 6% to $1.91 billion. The rest of its revenue comes from its CDI Contractors construction business. Same-store sales rose 7%.

Washington, D.C. -- More than 500 building projects have certified through the LEED Volume Program since the pilot launched in 2006, according to the U.S. Green Building Council. The LEED Volume Program streamlines the certification process for high-volume property owners and managers, from commercial real estate firms, national retailers and hospitality providers, to local, state and federal governments.

Wake Forest, N.C. -- Jacksonville, Fla.-based Regency Centers announced the opening of the anchor tenant, Harris Teeter, for Harris Crossing located in Wake Forest, N.C. Harris Teeter will operate a 53,282-sq.-ft. store.  

Together with partner WelCor Development, Regency closed on the purchase of 15 acres of undeveloped land in 2008 in order to build the 65,150-sq.-ft. neighborhood center which includes 12,150 sq. ft. of small shop space and three outparcels.

Minneapolis -- Best Buy said in fiscal 2012 it will concentrate on growing its smaller-format mobile chain and restructure parts of its supply chain processes to cut costs and improve efficiency. The retailer plans to open about 150 Best Buy Mobile stand-alone-stores in the United States, for a total of some 325 locations by year-end.

Best Buy plans to open about six to eight Best Buy-branded large-format stores in the United States, along with 18 Best Buy stores in Canada, the United Kingdom and Mexico during the year.

On Feb. 17, Borders Group announced that it had retained Melville, N.Y.-based DJM Realty, a Gordon Bros. Group Co., to manage the disposition project of the 200 stores that would be shuttered as a result of the bookseller’s just-reported Chapter 11 bankruptcy filing.

Chain Store Age talked with Andy Graiser, co-president of DJM Realty, about the assignment, and how a better Borders might emerge from the process.

Tell me about the Borders assignment, including your timeline and strategy for disposition.

FRAMINGHAM, Mass. — TJX Cos. reported a 15% drop in fourth-quarter earnings, dragged down by costs to close its A.J. Wright store division. The company also plans to repurchase $1.2 billion of its stock this fiscal year and raise its dividend.

The retailer earned $334.4 million in the three months ended Jan. 29, compared with $394.9 million in the same period last year.

Revenue rose 6.5% to $6.33 billion. Same-store sales were up 2% over the prior year’s strong 12% increase.

Vienna, Va. -- Jacksonville, Fla.-based Regency Centers said it has named Jack deVilliers as leasing agent in Baltimore, Maryland and the New England area. 

deVilliers will be responsible for leasing 13 operating properties, totaling 1.8 million sq. ft., in Maryland, Washington, D.C., Connecticut and Massachusetts.

Previously, deVilliers served as a retail leasing associate for commercial real estate broker KLNB Retail, handling tenant and landlord representation of new retail development projects.