Development/Redevelopment

Toronto -- Hudson’s Bay Company’s net profit for the fourth quarter fell to $29.1 million from $86.8 million in the year ago period, amid higher expenses.

The company’s sales for the quarter, ended Feb.1, rose 74% to $2.41 billion, largely driven by the inclusion of Saks, which it acquired in November 2013. Same-store sales rose 6.6%, with an increase of 5.2% at its namesake stores, a 3.1% increase at Saks, and a decline of 1.3% at Lord & Taylor.

Brea, Calif. — Simon Property Group and Brea Mall are celebrating putting the finishing touches on the renovation of the property with a special community event and a series of showcase weekends throughout April and May.

The renovation included redesigned mall entrances and new signage, flooring, landscaping, glass handrails and overhead lighting. The mall now displays updated textures, colors and amenities such as soft seating and charging stations.

Fort Worth, Texas and Napa, Calif. — A joint venture of Trademark Property Co. and Zapolski Real Estate LLC, the $30 million Napa Center transformation started in September 2013 with upgrades to common areas. Changes include new energy-efficient roofing, paint and façade upgrades, new architectural elements, expanded and updated walkways, new seating areas, landscaping, ambient lighting and signage.

Columbus, Ohio — DSW Inc., Designer Shoe Warehouse has announced the opening of a new store in Ponce, Puerto Rico, on April 10. As of April 10, DSW will operate 407 stores in 43 states, the District of Columbia and Puerto Rico.

DSW also operates an e-commerce site at DSW.com. In addition, the company supplies footwear to 357 leased locations in the United States under the Affiliated Business Group.

Dallas — Cypress Equities has acquired Brookwood Village, a mixed-use development in the affluent Mountain Brook area of Birmingham, Ala.  A fund managed by Cypress’s real estate investment management group carried out the transaction.

The 816,000-sq.-ft. center consists of a 604,000-sq.-ft., two-level enclosed mall, a 41,900-sq.-ft. grocery-anchored retail component and a nine-story 170,000-sq.-ft. Class A office building.  

Holmdel, N.J. — Levin Management has been named the exclusive leasing agent for Holmdel Crossing, a planned 140,000-sq.-ft. retail development in Holmdel, N.J.

According to Levin, pre-leasing efforts will focus on identifying anchor or junior anchor tenants that will drive the remaining retail tenancy,

Oakbrook Terrace, Ill. — Mid-America Real Estate Corp. recently signed Wes Koontz, CCIM, as director of net lease investment sales. He will work in tandem with Kevin Conway, also director of net lease investment sales.

Winnetka, Calif. — dd’s Discounts, a subsidiary of Ross Dress For Less, has opened a 25,600-sq.-ft. store at Sherman Plaza in Winnetka, Calif. Kennedy Wilson represented the landlord, Sherman Plaza, in the transaction.

Epsteen and Associates represented the tenant.

Columbus, Ohio - Lane Bryant opens a new store in Davenport, Iowa, on April 4. The store is located in Elmore Marketplace.

From April 4-6, those who visit Elmore Marketplace's new Lane Bryant location will have the chance to win one of (25) $25 Lane Bryant gift cards each day. Lane Bryant operates 775 stores across the U.S.

Pittsburgh – Dick’s Sporting Goods opens a relocated store at McCandless Crossing in Pittsburgh on April 13. The original store location at Northway Mall will be closing on April 8 to make way for the new, enhanced McCandless Crossing location.