Development/Redevelopment

Dublin, Calif. - Ross Dress for Less will open a new store in Southern California, on Oct. 11. The store is located in the La Mesa Center in the city of La Mesa, a suburb of San Diego.  

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year. 

Birmingham, Ala. – Brookwood Village, a dynamic mixed-use development located in the affluent Mountain Brook and Homewood area of Birmingham, Alabama, today announced that the shopping center would welcome Hickory Tavern to its restaurant mix in 2015.

Dublin, Calif. – DD’s Discounts, a division of Ross Stores Inc., will open a new store in Houston, on Sept. 27. The store is located in the Mission Bend Shopping Center in the Mission Bend neighborhood.

Including this new location, DD’s Discounts will operate more than 150 locations in 15 states and is on schedule to complete its expansion plan to open approximately 20 locations in 2014.

Simon has long been known as one of the pre-eminent players in retail real estate and shopping center management and development. But with the formation of a new venture capital division, Simon Venture Group, and partnership with Plug and Play, a global investor and technology accelerator that specializes in growing tech startups, Simon is looking to take a leading role in retail IT, as well.

Virginia Beach, Va. – The Investment Sales Group of Divaris Real Estate Inc. has brokered the sale of Shippensburg Marketplace in Shippensburg, Pennsylvania for $12 million. Divaris represented the seller, ACL Realty Corp., in the transaction; American Realty Capital Properties, Inc. was the purchaser.

Shippensburg Marketplace is a 56,875-sq.-ft., Giant-anchored shopping center. The property was developed in 2002 and was 94% occupied at the time of the sale.

Indianapolis - Hhgregg has redeveloped a store in Columbus, Ohio, with a new store format. Developed by real estate company Casto, the store opened Sept. 18, and employs 26 associates.

“Working with Casto to update the Sawmill location allows us to best serve our loyal Columbus-area customers,” said Dennis May, Hhgregg CEO. “Our best-in-class products and expert sales associates make this and our five other Columbus-area stores a destination for a superior appliance, furniture and electronics shopping experience.”

New York -- Woolrich, the Pennsylvania-based outwear and lifestyle brand, has opened its first-ever freestanding store, in New York’s SoHo neighborhood. The move follows the recent opening of three Woolrich stores in Europe, including a store in Hamburg, Germany, and Prague.

Northbrook, Ill. - Pine Tree Commercial Realty LLC has acquired Riverbend Marketplace, a regional shopping center located in Asheville, North Carolina, in partnership with Wanxiang America Real Estate Group. The 142,617-sq.-ft. shopping center is shadow-anchored by Walmart, anchored by Kohl’s and Petsmart, and features 110,715-sq.-ft. of national best-in-class retailers.