Development/Redevelopment

Annapolis, Md. — Jacksonville, Fla.-based Regency Centers said three new tenants have leased space at Village at Lee Airpark, located in Annapolis, Md.

Coldstone Creamery has leased 1,240 sq. ft., AT&T Authorized Dealer CellComm has leased 2,076 sq. ft., and Bay Tunes Guitars has leased 1,390 sq. ft.

All three retailers are slated to open fall 2011, bringing the first phase of Village at Lee Airpark to 98% occupancy.  

Washington, D.C. — Grosenor Americas announced that tapas restaurant Boqueria will open a 5,331-sq.-ft. restaurant in a former Penang Malaysian Cuisine space in Washington, D.C.

Boqueria, which operates two New York City locations, is slated to open fourth quarter 2011.

Grosvenor Americas also announced that Irish Whiskey will open a 3,815-sq.-ft. bar in the adjacent former Porters Dining Saloon space.

Monroeville, Pa. — Chattanooga, Tenn.-based CBL & Associates Properties Inc. has announced a series of anchor redevelopments at Monroeville Mall in Monroeville, Pa., including the relocation of J.C. Penney to a new 110,000-sq.-ft. store on the upper level of the former Boscov’s location.     

Additionally, the current J.C. Penney location will be redeveloped into a new state-of-the-art 12-screen Cinemark Theatre. 

Marlton, N.J. — Centro Properties Group US announced that Payless ShoeSouce will open a 3,057-sq.-ft. store at Marlton Crossing, located in Marlton, N.J.    

Centro, based in New York City, owns the shopping center.

Middletown, N.Y. — Charter Realty & Development Corp. said that three new leases and one relocation, totaling 90,372 sq. ft. has brought the Dunning Farms Shopping Center, located in Middletown, NY., to 100% occupancy.

Since being brought on to lease Dunning Farms, Charter has executed new leases with Ollies Bargain Basement for 30,775 sq. ft., with Groo Shoes for 3,880 sq. ft., and with Nilsen Insurance for 1,175 sq. ft. What-a-Store has relocated to a 28,000-sq.-ft. store. 

New York — Gap Inc. is expanding its Athleta brand. The company will open eight to 10 Athleta stores in 2011, with a total of 50 expected by 2013, according to Women’s Wear Daily. 

As previously reported, Athleta will make its New York City debut this summer, opening two locations in Manhattan.

Chicago -- Jones Lang LaSalle announced Wednesday that The Kroger Co. is undertaking an initiative with JLL to conduct a strategic review of a group of its retail assets, in tandem with Kroger’s divisional real estate teams, to explore optimization strategies for a select portfolio of operating stores.

In addition, Jones Lang LaSalle has been selected, among others, to participate in developing disposition strategies for a portion of the retailer’s closed store portfolio.

Farmington Hills, Mich. -- Pet specialty retailer Pet Supplies “Plus” announced Wednesday that it has promoted Dave Bolen to president and CEO, effective immediately.

Bolen joined the company on May 2 as president, arriving from Petco where he was executive VP and chief merchandising officer.

Prior to Petco, Bolen was executive VP merchandising, marketing and supply chain for Jo-Ann Stores.

Harvey Solway has been promoted from CEO to Executive Chairman.

New York City -- In an address Wednesday at Microsoft’s Worldwide Partner Conference in Los Angeles, COO Kevin Turner said that Microsoft hopes to open 75 freestanding Microsoft stores within the next two to three years.

“We’re going to open up to 75 more stores over the next two to three years, and continue to bring our stores outside the U.S. as well, so we’ve got a huge opportunity to get the Microsoft story out there, and we’re going to keep driving that,” Turner said.

Retail site selection is not just a matter of available real estate. It’s an analytical challenge that requires sophisticated statistical modeling and a thorough understanding of the market potential of a location. Devon Wolfe, managing director of Americas Strategy & Analytics, Troy, N.Y.- based Pitney Bowes Business Insight, discusses the Top 10 most common mistakes that seem to repeatedly plague businesses and hinder their success:

1. Assuming you can build a model for all situations