Development/Redevelopment

Honolulu — With 42 million visitors per year, the two million-sq.-ft. Ala Moana Center in Honolulu boasts sales per square foot of $1,300. At the beginning of the year, owner General Growth Properties began a massive $572 million redevelopment of Ala Moana — the world’s largest open-air shopping mall. The goal is to add 650,000 sq. ft. of new retail space.

BIRMINGHAM, Ala. — Hibbett Sports reported a weaker-than-expected comparable-store sales increase of 0.3% for the second quarter ended Aug. 3, compared to a 4.8% increase in the prior-year period.

Last year's second quarter benefited from the extra week in the fiscal calendar which resulted in approximately $12 million of sales.

New York — Noble Roman’s, the franchisor of Nobel Roman’s Pizza and Tuscano’s Italian Style Subs, has announced signed agreements for eight more stand-alone locations, brining the total of signed locations to 29.

To date, eight locations are open and 21 are under development.

Lafayette, La. — Hungry Howie’s has opened a new pizza shop in Lafayette, La., near the University of Louisiana campus.

It is the third store for the young franchise. The other two stores are in nearby Baton Rouge.

Woonsocket, R.I. — CVS Caremark has opened a 150,000-sq.-ft. fulfillment center in Mt. Prospect, Ill. It will support the CVS Caremark Pharmacy Benefit Management book of business. The $67 million facility can fill 50 million prescriptions annually. Proprietary technology at the facility automates 90% of the dispensed prescriptions and 80% of the prescriptions packaged for mailing. On-site pharmacists visually check all of the prescriptions.

Los Angeles — Hong Kong is by far the world’s most expensive city for global retailers, but prime rents in New York City, London, Tokyo and Zurich are on the rise, according to research from CBRE Group, Inc.

CBRE’s second quarter 2013 ranking of the top 10 prime global retail markets saw little change relative to previous quarters; however, four of the top 10 markets — New York City, London, Zurich and Tokyo — saw quarterly increases in prime retail rents. Only one market saw a quarterly increase in the first quarter.

Cincinnati — Phillips Edison-ARC Shopping Center REIT has acquired Paradise Crossing, a 67,470-sq.-ft. shopping center anchored by a Publix grocery store.

Located in Lithia Springs, Ga., a suburb of Atlanta, Paradise Crossing is 93.7% occupied. When combined with the Publix lease, 64% of the rents for the center derive from national tenants.

The acquisition brings the REIT’s portfolio to 50 grocery-anchored properties, with an aggregate portfolio purchase price of approximately $729.6 million.

Phoenix — The Habit Burger Grill is opening its sixth Arizona location in Scottsdale in the Promenade at Scottsdale Road and Frank Lloyd Wright.

The Irvine, Calif.-based restaurant also operates more than 60 locations in California and two in Utah.

New York -- CBL & Associates Properties has announced the appointment of A. Larry Chapman to its board of directors.

Chapman is a retired 37-year veteran of Wells Fargo. He most recently served as group head of the bank’s commercial real estate lending business, responsible for the group’s 75 nationally located real estate loan production offices and 1,500 full time employees.

Omaha, Neb. — Westroads Mall has begun work on a major, two-phase renovation and remodeling of the three-level, enclosed, 1.2-million-sq.-ft. super-regional shopping center in Omaha, Neb.

Phase I is underway with mall-wide painting plus interior and exterior LED lighting installation. Phase I will also upgrade the malls energy management system. Plans call for Phase I to finish before the holiday season.