Development/Redevelopment

Queens, N.Y. -- Discount grocer Aldi said Thursday it will open its first-ever New York City store on Feb. 18. The new store is located in the borough of Queens.

Aldi, which offers a limited assortment of items, said it will bring its standard floorplan to Queens, which includes wider-than-typical 8-ft. aisles.

The Queens store is the first of three grocery stores the company plans to open in the area, including new locations in the Bronx and Bay Shore areas.

NEW YORK -- Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks. The long-expected filing will allow Borders to access new capital and reorganize its operations, Borders Group president Mike Edwards said in a statement.

New York City -- Guess announced Thursday that its North American flagship location has opened at 575 Fifth Avenue, at 47th St., in New York City.

The new store, the retailer’s largest to date, spans 13,000 sq. ft. over two floors and is inspired by the brand’s new global flagship concept launched in Milan last year.

Columbus, Ohio -- Casto announced that Menards has purchased 20 acres of land at Columbus Corporate Center, on the east side of Columbus, Ohio.

According to Menards, construction on its 160,000-sq.-ft. store will commence later this spring. This will be the second Menards location in Columbus. The first location, situated at Northland is scheduled to open this spring.

Minneapolis -- Another Target store is coming to downtown Chicago as the retailer disclosed it would open a small-format store under the new CityTarget banner in the Sullivan Center development at South State Street and Madison.

New York City -- Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks. The long-expected filing will allow Borders to access new capital and reorganize its operations, Borders Group president Mike Edwards said in a statement.

Beachwood, Ohio -- The Developers Diversified Realty Corp. board of directors announced the company and Scott A. Wolstein have agreed he will step down from the role of executive chairman of the board of directors.

Dayton, Ohio -- Parmida Home said Tuesday it will open its fifth retail store in the Greene shopping center, located in Dayton, Ohio, on April 1.

“We are very excited to grow in the Dayton area,” said Parmida marketing director Siotha Vest.