Development/Redevelopment

Cabela’s is heading to Alabama and Oklahoma for the first time. The company plans to open store locations in Huntsville, Ala., and Oklahoma City, Okla., as well as its second location in New York.

Five Below plans to open eight locations in and around Houston Friday, June 6, marking the specialty value retailer’s first foray into that city. The company already has 15 stores in the Dallas and Austin markets.

The store openings are part of the company’s aggressive growth strategy. Last year, the Philadelphia-based retailer opened 60 new stores, and it plans to match that number this year. With the Houston openings, there will be 338 Five Below stores in 20 states throughout the country.

New York -- Global brand agency CBX will help Friendly Express update the design and branding of its 42-store network of community-focused convenience stores in southeast Georgia.

Under the assignment, the firm will update the chain’s logo and redesign the interiors and exteriors of its convenience stores, which range in size from 2,000 sq. ft. to 3,500 sq. ft. Friendly Express stores, which also offer gasoline, are located in several different southeast Georgia communities, including Waycross, Jesup, Folkston, Brunswick, and St. Simons Island.

Fort Worth, Texas -- Westwood Contractors Inc. is expanding its presence with office space in Scottsdale, Arizona.

Previously, Westwood built a strong presence in the West Coast region, serving clients for 21 years through a regional office. After a one-year hiatus, the firm’s new location intensifies its connection and commitment to the area, according to the company.

Freeport, Maine -- L.L. Bean announced it will open its first store in the state of Vermont, at Burlington Town Center.

The two-level, 18,290-sq.-ft. store is scheduled to open in October. It will feature an assortment of active and casual apparel and footwear, outdoor gear including hiking, fly-fishing, kayaking and camping products. It will L.L. Bean's 20th retail store outside of Maine.

Sweetwater, Fla. -- Ikea announced it had completed the installation of South Florida’s largest solar array, which will be plugged-in officially atop the future Miami-Dade Ikea store opening this summer in Sweetwater, Florida. Combined with rooftop arrays in Orlando, Tampa, and Sunrise, this fourth solar project will keep Ikea as the state’s largest non-utility solar owner.

Goodlettsville, Tenn. -- Dollar General Corp.’s first-quarter profit and sales missed Wall Street estimates as the retailer cited an “unfavorable’ winter, increased competition and economic challenges. The company said Tuesday its profit rose to $222.4 million, from $220.1 million year ago. The retailer also reiterated its plans to open 700 stores in fiscal 2014, and remodel, to varying degrees, another 900 existing locations.

Net sales rose to $4.52 billion, from $4.23 billion. Same-store sales rose 1.5% in the quarter.

The Woodlands, Texas – Conn’s Inc. exceeded Wall Street estimates with both its net income and net sales performance during the first quarter of fiscal 2014. In addition, the retailer said it plans to open 17-20 new stores while closing 10 existing stores during the full fiscal year.

Goodlettsville, Tenn. – Dollar General Corp. has opened its 12th distribution center in Bethel, Pennsylvania. Dollar General announced plans to build the 930,000-sq.-ft. facility in 2012 and broke ground on the facility in fall 2012 with Kinsley Construction.

San Diego - Retail Opportunity Investments Corp. (ROIC) has entered into a binding contract to acquire Fallbrook Shopping Center for $210 million in cash. The property is located in West Hills, California, and has approximately 1.12 million sq. ft. of gross leaseable area, of which 98% is currently leased.

ROIC expects to close the transaction during the second quarter of 2014.