Development/Redevelopment

Michael Reed has been promoted to VP real estate for Stater Bros. Markets.  
 
Reed joined Stater Bros. in 2014 as senior director of real estate, a position he held until his recent promotion. He will report to president and CEO Pete Van Helden.

Prior to Stater Bros., Reed served as real estate store development manager for Starbucks where he was responsible for growing the company’s Mid-West and Western Mountain regions.  

Stater Bros. operates 168 supermarkets in California.

Irvine, Calif. -- Irvine Company has announced it will begin a transformation $30-million reinvestment in Woodbridge Village Center located in Irvine, California. The redevelopment of the center includes upgrading the retail, dining and entertainment mix to complement longtime favorites, freshen the architecture for a coastal California feel, and create an expansive outdoor setting for dining, relaxing and community gatherings that overlooks North Lake.

Publix Super Markets is entering the eastern portion of the North Carolina market.

Publix will be coming to Greenville Square, a 150,000-sq-ft center, formerly anchored by K Mart, which will be completely renovated with a new façade, parking lot, lighting package and landscaping. The 49,000-sq-ft Publix will open in 2017 along with several new national, regional, and local tenants.

Brodyco is the developer for the partnership of David Brody, Hyman Brody, and Robert Beller, who purchased Greenville Square in 2005.

Checkers Drive-In Restaurants is employing a high-tech solution to help it expand throughout the United States.

The fast-casual chain has partnered with Buxton to identify growth opportunities for Checkers & Rally's restaurants. The company, which operates and franchises both Checkers and Rally's restaurants, currently has more than 800 locations nationwide.

A modular cabinet and hardware system has given upscale men’s clothing retailer Hammer Made an important degree of flexibility at Ridgedale Shopping Mall location in Minnetonka, Minnesota.

Inventory at the upscale men’s clothing shop fluctuates often. Consequently, it was critical that the display cabinets create the impression that the shelves were always stocked, regardless of the actual inventory level at hand.

Deals in “Mind” Games

Brain fitness might seem an unusual specialty for a retailer, but it’s proved a sweet spot for Marbles: The Brain Store.

Founded by Lindsay Gaskins and Scott Brown, the Chicago-based retailer sells games and other items designed to stimulate the brain. It made its debut in 2008, with a kiosk in a local mall. People were intrigued, but they wanted a more engaging shopping experience, said marketing director Hallie Steube.

The federal government has extended the Investment Tax Credit (ITC) for solar energy investments through 2019. It provides businesses that install solar panels a tax credit equal to 30% of the total solar installation price. The credit will ramp down to 26% in 2020, 22% in 2021 and to 10% in 2022 for commercial solar installations.

Kansas City -- Taubman Centers and The Macerich Company announced a joint venture for Country Club Plaza location in Kansas City, Missouri from Highwoods Properties. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Taubman and Macerich each own a 50% interest in the center.