Development/Redevelopment

Charlottesville, Va. -- Construction has begun on a new 73-acre, super-regional shopping center, 5th Street Station, in the heart of southern Charlottesville. 5th Street Station brings the first Wegmans store to Central Virginia, along with 335,000 sq. ft. of additional anchor, junior anchor and small-shop opportunities.  

Target may not have been very successful in Canada, but the retailer has an altogether different strategy for the United States, where it will open 15 stores in 2015.

Target says it plans to open more small store formats than suburban big box stores this year.

The Minneapolis-based retailer will bring its smallest store, TargetExpress, which at 20,000 square feet is about a sixth of the size of its traditional big box stores, to two more metropolitan areas this year with one store slated for Chicago and two for the Washington, D.C., area.

St. Petersburg, Fla. -- In 2014, The Sembler Co. said it saw increased activity across business segments, from more than 700,000 sq. ft. of new and renewed leases, to expanding the company’s geographical reach.

Minneapolis — Target Corp. is opening 15 stores this year, with an emphasis on its smaller-sized TargetExpress format as it looks to further reach guests in urban centers. The discounter will open eight TargetExpress locations, one CityTarget and six general merchandise stores.

Target stated that its strategic store growth is focused on reaching guests in urban centers with new formats like TargetExpress and CityTarget, while also offering new experiences, merchandising layouts and innovations in its general merchandise stores.

Berkeley, Calif. -- Donahue Schriber Realty Group acquired Gilman Village on January 30, marking the Costa Mesa, California-based company’s second Bay Area acquisition in the past month.

Besides the Gilman Village acquisition in Berkeley, California, Donahue Schriber purchased Village Oaks shopping center, a 320,000-sq.-ft. property anchored by Target and Safeway located in San Jose, California.

New York -- Forever 21 will open a five-level store on Fifth Avenue in Manhattan, taking over the space that formerly housed an H&M.  

The new Forever 21, which is located on Fifth between 51st and 52nd Streets, is scheduled to open on Feb. 7.

New day dawning at Tuesday Morning Tuesday Morning CEO Michael Rouleau declared the company’s turnaround complete after same store sales popped 7.6% and operating profits surged 32% during the second quarter ended Dec. 31.

The operator of 800 stores reported that the same store sales increase was as a result of a 7.7% increase in customer transactions, offset by a 0.1% decrease in average ticket. Sales at the 31 stores relocated during the past 12 months increased approximately 50% and contributed 140 basis points to the comparable store sales increase of 7.6%.

After a 2014 review found inefficiencies in its supply chain and logistics network, Rite Aid Corp. consolidated three distribution centers. Now the company is going in a new direction.

The retailer said it plans to build a 900,000 square foot distribution center in Spartanburg, S.C., its first new DC in 15 years. The new distribution center will employ nearly 600 people after it becomes fully operational and will support the inventory and fulfillment needs of approximately 1,000 Rite Aid stores in the southeastern United States.