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Development/Redevelopment

  • Sudberry breaks ground on mixed-use development in Mission Valley, Ca.

    San Diego -- Sudberry Properties has broken ground on the first phase of Civita, the 230-acre mixed-use development that will turn a 70 year-old quarry in Mission Valley, Ca., into a walkable community with attainable housing options, village shops, businesses, access to San Diego’s Light Rail System and abundant acres of park space all within a 15 minute walk of one another.

  • Giant-Landover president to exit at end of year

    Landover, Md. -- Two-and-a-half years after joining the company, Robin Michel is leaving as president of the Giant-Landover division of Ahold USA to pursue other opportunities, the company confirmed Monday.

    Michel will depart at the end of the month, according to Ahold USA spokesperson Sara Neumann. She will be replaced on a temporary basis as operations chief by Don Sussman, executive VP supply chain at Ahold, while the company conducts a search for a successor.

  • Tempe Marketplace acquired in $280 million deal

    Phoenix -- Vestar Development Co. and Rockwood Capital on Tuesday acquired Tempe Marketplace for $280 million by buying out an original partner. In conjunction with the closing, Tempe Marketplace received a new $200 million permanent financing package from GACC.

    Vestar was the developer of Tempe Marketplace and had previously partnered with DLJ/Credit Suisse. Both Rockwood and Vestar made significant investments in the acquisition. Under terms of the deal, Vestar will be the managing partner.

  • George Smith Partners completes construction financing on retail center development

    Los Angeles -- Commercial real estate investment banking firm George Smith Partners, has completed a $17.2 million, two-phase, construction loan transaction in Oxnard, Calif., for Upside Investments.

  • Dollar General to open 625 stores in 2011

    Goodlettsville, Tenn. -- Dollar General Corp. on Monday lifted its earnings outlook for the year as fiscal third-quarter profit jumped 69% on continued growth in sales and margins.

    The company reported earnings of $128.1 million in the latest quarter, compared with $75.6 million a year earlier. Net sales for the quarter ended Oct. 29 rose 10% to $3.22 billion and same-store sales increased 4.2%.

  • Hobby Town USA opens at Central Station

    College Station, Texas -- Hobby Town USA recently opened a new 2,480-sq.-ft. store at Central Station, located in College Station, Texas.

    Central Station is owned by New York City-based Centro Properties Group.

  • Top 10 “Unmissable” Stores

    New York City -- Forever 21’s massive Times Square flagship, a shop that sells ice cream made to order and frozen with liquid nitrogen, and a new beauty-and-wellness concept in Hong Kong are on a list of the hottest new stores around the globe.

    The list comes from the folks behind the cutting-edge, London-based retail consultancy echochamber.com:

  • Lord & Taylor to open first new store in a decade

    Cleveland -- Lord & Taylor and Forest City Enterprises on Friday announced that Lord & Taylor will open a new, 80,000-sq.-ft. store to anchor Westchester's Ridge Hill, Forest City's outdoor retail/mixed-use development, currently under construction in Yonkers, N.Y. This will be the first new, full-line Lord & Taylor to open since 2001.

    The new location will showcase the retailer's latest store design and will offer a mix of the best fashion, accessories, beauty and fragrance brands, as well as gifts and home accessories.

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