Development/Redevelopment

PHILADELPHIA — Five Below has proposed a secondary offering of 7,000,000 shares of its common stock, amid reports that sales are not as bad as originally feared.

Philadelphia — Specialty value retailer Five Below's fourth quarter total sales for the period from October 28, 2012 through January 12, 2013 increased 34% to $158.5 million, while comparable store sales for the same period increased 4.2%.
 
Five Below has proposed a secondary offering of 7,000,000 shares of its common stock, amid reports that sales are not as bad as originally feared.

Denver -- The Zall Co. said Wednesday that Marco’s Pizza will open a new restaurant in Denver, marking the ninth Colorado location for the chain.

The latest unit will join Which Wich, Noodles & Co. and T-Mobile at a retail project located between Gaylord and York Street on E. Colfax.

Ashburn, Va. -- Miller and Smith, along with JV partner North America Sekisui House, said Tuesday that The Fresh Market will open a new store at One Loudoun, in Loudoun County, Va.

The 23,000-sq.-ft. specialty grocer will break ground in January 2013 and is slated to open fall 2013.  

Slidell, La. -- Chattanooga, Tenn.-based CBL & Associates Properties and Covington, La.-based Stirling Properties announced Wednesday the formation of a 65/35 joint venture to develop Fremaux Town Center in Slidell, La.  

Mason, Ohio -- Pearle Vision announced its 2013 U.S. expansion plans, which includes the re-licensing of 34 locations in 10 states.

With more than 520 eye care centers in the United States, Pearle Vision is now seeking to grow its national footprint and has identified Florida, Ohio, and Michigan as the first markets for its aggressive re-licensing effort. Specifically in Florida, Pearle Vision is looking to convert locations in Miami, West Palm Beach, Naples, Jacksonville, and Orlando.

Covington, La. -- Stirling Properties said Tuesday it plans to develop a full-service Walgreens drug store in Terrytown, La., on the Westbank of New Orleans.

The proposed Walgreens, which will be a relocation of an existing nearby store, will be located on the site of a former A&P Grocery/Eckerd Drug-anchored shopping center.  

Beachwood, Ohio -- DDR Corp. announced Tuesday that it has expanded its redevelopment program in Puerto Rico from $50 million to $90 million.

"Increased demand for quality retail space in this supply-constrained market has created unique value-add opportunities in many of our most productive assets," said Paul Freddo, senior EVP leasing and development, DDR. "By executing our strategic redevelopment plan, we are creating attractive opportunities for our key domestic tenants to establish or expand their presence on the island."