Development/Redevelopment

New York -- Uniqlo announced that it will open a 29,000-sq.-ft. flagship in San Francisco, in the fall of 2012. The store, which will be located at 111 Powell Street, close to the Union Square shopping district, marks the brands’ first location outside of New York and will act as the epicenter for expansion along the West Coast.

Toronto -- Indianapolis-based Simon Property Group and Calloway Real Estate Investment Trust, Toronto, announced Tuesday that they will launch construction on Canada’s first upscale outlet center on April 25.

The first phase of the planned 500,000-sq.-ft. center will open in summer 2013.

Toronto Premium Outlets is a 50/50 joint venture between Calloway and Simon, and will feature more than 100 upscale outlet stores.

Rio de Janeiro, Brazil -- Indianapolis-based Simon Property Group and Latin American retail real estate company BR Malls Participacoes S.A. announced Tuesday that they signed a 50/50 joint venture agreement to develop and own outlet centers in Brazil.

The first outlet center of the joint venture is slated to open in Sao Paulo in 2013.
 

New York -- Japanese apparel retailer Uniqlo will open its first store on the West Coast, in a 29,000-sq.-ft. space in San Francisco, this fall, the Wall Street Journal reported.

Uniqlo is also looking for locations in Los Angeles and other California cities, according to the report. To date, the company has opened three U.S. stores, all in New York City.
 

New York -- The average vacancy rate at strip malls across the United States edged down for the first time in nearly seven years in the first quarter, falling to 10.9% from 11% in the prior quarter, according to preliminary data by real-estate research company Reis Inc., Reuters reported. It was the first decline in nearly seven years.

But the firm warned consumer spending is still not strong enough to lift retail real estate out of its slump.

Washington, D.C. -- Douglas Development said that J. Crew and yoga and spinning studio The Art of SpYn will open at its Penn Quarter property, in Washington, D.C.

J. Crew is slated to open in August and The Art of SpYn is scheduled to open this spring.

Toronto -- A spokesman for the Canadian Heritage Minister said Thursday that the government will conduct a review of Target’s store opening plans in the country to ensure its books, DVDs, music and other cultural products have enough Canadian content.

The review, which comes as Target is laying the groundwork to open in 2013 the first of 125 to 135 stores in former Zellers locations, falls under a “cultural heritage” provision in Canada’s foreign-takeover law.
 

Chesterfield, Mo. -- Bloomington Hills, Mich.-based mall owner Taubman said Thursday that it has broken ground on a high-end outlet mall in Chesterfield, Mo., in suburban St. Louis.

Taubman Prestige Outlets Chesterfield is slated to open in fall 2013 and will feature 450,000 sq. ft. of retail space with more than 100 stores, an open-air design, dog-friendly grounds, access to a levee-fitness trail and a food court.

Fort Worth, Texas -- Pier 1 Imports Inc. on Thursday said that its fiscal fourth-quarter profit more than doubled on increased store traffic and a one-time tax benefit that boosted its bottom line. The chain also announced a new three-year growth plan that includes store updates and investments in technology.

Issaquah, Wash. -- Costco Wholesale Club said it plans to open up to an additional eight warehouses prior to the end of its fiscal year on September 2, 2012.

Costco currently operates 601 warehouses, including 434 in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, eight in Taiwan, seven in Korea and three in Australia.