Development/Redevelopment

Charlotte, N.C. – The Cato Corporation cited weather, holiday promotions and a 53rd week in fiscal 2012 as impacting its net income during the fourth quarter of fiscal 2013. The retailer also said it plans to open 64 new stores and close 17 existing stores during fiscal 2014.

Net income fell 52% to $3.8 million from $7.9 million in the same period the prior year, within previously announced guidance range, while sales dropped 7% to $215.2 million from $232 million.

Canton, Mass. -- Dunkin' Brands, the parent company of Dunkin' Donuts and Baskin-Robbins, has signed a multi-unit store development agreement with new franchise group, BG&E Investments, to develop five Dunkin' Donuts restaurants and one Dunkin' Donuts/Baskin-Robbins combination location throughout East Texas. The first restaurant is planned to open in summer 2014, and the remainder by 2018.

Columbus, Ohio – DSW Inc. plans to open two new stores in Corpus Christi, Texas, and Mentor, Ohio. Both stores are scheduled to open March 27.

DSW Rewards is a free loyalty program in which customers earn certificates toward future DSW purchases and receive special member-only offers. Customers can also participate in a Shoe Lover community on Facebook to receive exclusive offers and giveaways.

Sidney, Neb. -- Cabela’s Incorporated plans to open a store in Noblesville, Ind., serving the greater Indianapolis area. Construction is scheduled to begin later in 2014 and the store is expected to open in fall 2015.

The 80,000-sq.-ft. store will be located in the new Saxony Campus development adjacent to Hamilton Town Center. It will be Cabela’s second Indiana store, joining the Hammond location opened in 2007, and is expected to employ approximately 170 full-time and part-time employees.

Shreveport, La. – Houston-based developer NewQuest Properties is reportedly planning to build a roughly 22-acre shopping center in southwest Shreveport, La. According to the Shreveport Times, the center will be known as Camp Forbing Town Center and be located on a 47-acre parcel owned by the YMCA.

With technology continuing to reshape the store experience, global retail real estate leader Simon Property Group is upping its digital game with the creation of a new venture capital group.

The company, which owns or has an interest in 325 retail properties encompassing 243 million square feet, has created Simon Ventures Group for the purpose of investing in retail innovation focused on opportunities that enhance the shopping experience.

Las Vegas -- 1960s-era The Boulevard Mall will receive a $25 million makeover in hopes of prompting an overall redevelopment of the Maryland Parkway corridor of Las Vegas.

The rehab, to be launched by owner Sansone Cos., which acquired the mall last December for $54.5 million, will be the property’s first major renovation in more than two decades. Sansone is looking at the renovation of the Boulevard as a catalyst in the overall redevelopment effort of the Maryland Parkway corridor.

Katy, Texas -- Sporting goods retailer Academy Sports + Outdoors will continue its Midwestern expansion push with plans to open four new stores across Indiana and Kentucky later this fall.
 
The first two locations — Evansville, Ind., and Owensboro, Ky. — will mark Academy's entry into both states followed by the opening of stores in Louisville and Middletown, Ky., prior to the holidays.

Dallas — CBRE’s Private Capital Group has announced the sale of Josey Rosemeade Shopping Center, an unanchored strip center in Carrollton, Texas.

Located just northwest of the Dallas/Fort Worth metro area in an affluent, densely populated area, the 14,500-sq.-ft. center received more than 20 offers.

New York — Choza Taqueria, a Manhattan-based Mexican restaurant, has signed a lease for its third location at 100 Park Avenue, between 40th and 41st Streets. The new location will reach a lunchtime crowd from the area’s many Class A offices and the business commuters and visitors passing through Grand Central Station.

Winick Realty Group represented Choza, which currently operates storefronts on Madison Avenue and 27th Street and Macdougal Street and Bleecker Street.