Development/Redevelopment

New York -- Fresh & Easy plans to close 55 stores, which would leave the chain with about 110 locations, the Orange Country Register reported. Fresh & Easy is owned by the Yucaipa Cos., which bought the supermarket chain out of bankruptcy in 2013 from U.K. retailer Tesco. It operates stores in Nevada, California and Arizona.

The stores slated for closing do not meet Fresh & Easy’s new model of “modern convenience.”

By Roy Higgs

Tampa, Fla. – The Melting Pot Restaurants Inc. has opened its first restaurant outside of North America in Jakarta, Indonesia. The latest opening comes on the heels of the company announcing its plans for continued international expansion.

The Melting Pot is on track to open its first restaurants in Dubai, United Arab Emirates and Riyadh, Saudi Arabia later in 2015, as well as its fourth location in Mexico City, Mexico.

The resurgence of the housing market has Lowe’s feeling optimistic, to the tune of $5 billion.

The company’s board of directors announced that it has authorized a new repurchase program of $5 billion of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4 billion as of Jan. 30.

Mattress Firm Holding Corp. is revving up its growth in fiscal 2015, with plans to open as many as 220 new stores this year.

Houston – Mattress Firm Holding Corp. is revving up its growth in fiscal 2015, with plans to open 200 to 220 new stores.

Seattle -- Starbucks Corp. remains highly bullish on expansion. In remarks at the company’s annual shareholders meeting, the coffee giant revealed that over the next five years it plans to open 3,500 locations in its Americas region and 8,000 new stores in foreign markets. And just in case you were wondering … Starbucks noted that Shanghai has more Starbucks stores than any other city in the world in which it operates.

Paramus, N.J. -- Ripco Real Estate has leased the former Fortunoff Building at 150 Route 17 northbound in Paramus, New Jersey, to Bob’s Discount Furniture.

Without a permanent tenant since July 2009, Ripco was hired in mid-October 2014 to lease the property.  Five months later, through the efforts of Ripco’s New Jersey team, lead by Ira Kerner and Alison Horbach, the landlord has executed a lease with the discount retailer.