Development/Redevelopment

Peoria, Ill. - Cullinan Properties has acquired an approximately 264-acre site located at the northeast intersection of interstates 55 and 80 in Joliet, Illinois. The property was purchased from O & S Holdings, LLC who acquired the property in 2008, and originally entered into an agreement to develop a project known as Bridge Street Town Center.

However, with the sale of the property, O & S Holdings has terminated the original development agreement. “

Plano, Texas -- Home décor superstore At Home is entering a new market.

The retailer announced opening of its store in Kenner, Louisiana, on July 9. The 90,000-sq.-ft. is At Home’s first store in Louisiana.

At Home currently operates more than 90 stores across 25 states.
 

At Home is accelerating its pace in its race to operate 100 stores by opening its first store in the state of Louisiana.

The retailer is opening a 90,000 square foot store in Kenner, La., on July 9.

Following the store opening, the Kenner location will have a grand opening ribbon-cutting July 14 at 9 a.m. with the Jefferson Chamber of Commerce and onsite giveaways for customers and a radio remote on July 18.

Phoenix -- DTZ, a leader in commercial real estate services, announced that a limited partnership formed by Weingarten Realty Investors of Houston acquired The Summit at Scottsdale, a 190,408-sq.-ft. retail center anchored by Safeway and Target, for $54.1 million.

Donahue Schriber Realty Group, L.P., of Costa Mesa, California, was the seller of the property located on the southeast corner of Scottsdale Road and Ashler Hills Drive in Scottsdale, Arizona.

New York -- Trader Joe’s is opening a store in the heart of what is arguably the nation’s hippest enclave.

The grocer has signed a lease to open an 18,000-sq.-ft. in the Williamsburg section of Brooklyn, New York, reported Crain’s New York.

Read more.

Canton, Mass. – Dunkin’ Donuts is making a big expansion effort in the mid-Atlantic area.

The coffee chain has signed multi-unit store development agreements with seven franchise groups to develop 51 new restaurants in Virginia and West Virginia during the next several years.

The seven franchise groups and their development plans include:

Photo via Boston Business Journal

Minneapolis – Target Corp. is taking its urban-format to the East Coast.

The retailer will open a CityTarget location in Boston’s Fenway neighborhood on July 22. Boston Business Journal offers a sneak peek at the three-level, 160,000-sq.-ft. store.

Click here.

 

Atlanta – Home furnishings retailer Havertys is on a roll. Sales for the second quarter of fiscal 2015 increased 7% to $187.7 million from $175.1 million a year earlier, and the company plans to open a new store in Fort Lauderdale, Florida, in the third quarter.  

Same-store sales for the quarter increased 4.8%. Total written sales increased 5% and written same-store sales increased 2.4%. Havertys also plans to complete two store renovations in the third quarter.