Development/Redevelopment

Indianapolis – Simon plans to expand several marquee properties in the U.S., investing approximately $1 billion annually to enhance its assets. The Mills at Jersey Gardens in Elizabeth, New Jersey, will submit plans for a major expansion, adding approximately 411,000-sq.-ft. of new outlet brands, dining and entertainment to its footprint of more than 200 stores and 1.3 million-sq.-ft.

Little Rock, Ark. – Dillard’s Inc. had a disappointing first quarter of 2015, missing Wall Street expectations with both earnings and sales. Net income dropped 2% to $109.6 million, from $111.7 million a year earlier.

Net sales climbed to $1.57 billion, from $1.55 billion. Same-store sales and total merchandise sales outside the company’s construction business both fell 1%. Dillard’s plans to open three new stores in fiscal 2015, located in Utah, Louisiana and Ohio.

Bridgeport, Conn. – Los Angeles-based cinema operator Cinépolis USA will open a 12-screen, 1,200-seat luxury hybrid theater at Steelpointe Harbor, a mixed-use development in Bridgeport, Connecticut. Ferrara Jerum international partner and Steelpointe Harbor leasing consultant Douglas Jerum made the announcement.

Gainesville, Fla. - Regal Entertainment Group (NYSE:RGC) will open a 10-screen reserved-seating luxury theater at Celebration Pointe, a 225-acre, mixed-use regional development located in Gainesville, Florida. Celebration Pointe partner Ralph Conti made the announcement.

Party City’s CEO says robust sales prompted an “impressive” increase in same store sales in the first quarter, the company’s first quarterly report after an April IPO.

Simon Property Group will expand several shopping centers in the United States, with plans to invest approximately $1 billion annually in renovations.

Photo: Stefan Sjostrand, managing director, Ikea Canada

Las Vegas -- Simon Property Group, a global leader in retail real estate, announced that it has opened a 25-store expansion of Las Vegas North Premium Outlets.

The center is now one of the largest in the country with 175 stores. The expansion features designer and name brands, including Neiman Marcus Last Call Studio, Saks Fifth Avenue Off 5th, AG Adriano Goldschmied, AllSaints, Bally, Canali, Catimini, CH Carolina Herrera, Citizen, Helmut Lang, John Varvatos, Rag & Bone, Under Armour, and Vera Bradley.

Philadelphia - Five Below will make its initial entry into the Kansas City, Missouri market with the opening of three stores on May 15. The tween and teen specialty retailer expects to open a total of 70 new stores during 2015, on top of opening 62 stores in 2014

The three approximately 7,500-sq.-ft. Five Below Kansas City stores are located in Tiffany Springs Market Center in Kansas City, Adam's Dairy Landing in Blue Springs, Missouri, and Olathe Pointe Shopping Center in Olathe, Kansas.

Jackson, Miss. – As part of a larger plan to open 30 new corporate and franchised stores by the end of 2015 and 200 new stores by 2018, Newk's Eatery has entered a new development agreement with New Orleans-based Southeast Restaurant Group (SRG). The veteran operator of franchise and independent restaurants plans to open 15 Newk's locations throughout Southern Louisiana and in Houston.