Development/Redevelopment

For the second year in a row, retailers’ expansion plans are on an upward trajectory, according to Chain Store Age’s 2011 Store Construction & Outfitting Survey, an annual survey of retail building activity and development costs. In other findings, the cost of lighting, signage, roofing and other store-outfitting systems decreased compared with last year.

New York City -- BRE Retail Holdings, an affiliate of Blackstone Real Estate Partners VI L.P. announced Tuesday that it has acquired the U.S. assets and platform of Centro Properties Group and its managed funds for approximately $9 billion.

The sale includes 585 community and neighborhood shopping centers and related retail assets aggregating 92.1 million sq. ft. in 39 states.

Elizabeth, N.J. -- Glimcher Realty Trust, owner of Jersey Gardens outlet mall in Elizabeth, N.J., said that it has begun the installation for one of the largest single-roof top solar systems in North America.

The 4.8 megawatt solar array will generate enough power to offset 11% of the electrical consumption of the mall.

Jersey Gardens, with 1.3 million sq. ft. of leasable space, features tenants such as Gap Outlet, H&M, Lord & Taylor Outlet, Neiman Marcus Last Call, Nike Factory Store and Saks Fifth Avenue Off 5th.

MINNEAPOLIS — Target last week announced that Target Canada has reached an agreement to transfer to Walmart Canada the leasehold interests in up to 39 sites, currently operated by Zellers.

Specific locations will be identified later this fall. Terms of this transaction were not disclosed.

Walmart doesn’t need a lot of help when it comes to growth, which is why last week’s announcement by Target to sell its larger rival 39 sites in Canada was a surprise. Walmart is on track to end this year with 333 stores, and on Friday Target said it had reached an agreement to transfer to Walmart Canada the rights for leasehold interests in up to 39 sites currently operated by Zellers. The sites are among the up to 220 possible sites whose leasehold interests Target is acquiring as part of a real estate transaction announced in January.

Canton, Mass. -- Dunkin' Donuts on Monday announced it has signed agreements with three franchisees to develop 12 new restaurants throughout Tampa over the next several years.

"The Sunshine State is a priority growth market for Dunkin' Donuts in 2011, and we're excited to expand our footprint in Tampa," said Grant Benson, CFE, VP franchising and market planning, Dunkin' Brands.

Urban street wear retailer Dr. Jay’s has updated its flagship store in Manhattan, with a fresh, bold look that invigorates the popular brand while enhancing the customer experience.

New York City -- Limelight Marketplace, an indoor mall in Manhattan, is getting a major facelift. The shopping venue will re-launch in September as a three-story department store called Limelight. Renovation costs will total almost $4 million.

"We want to display Limelight as a 'fashion-forward' venue with sophisticated and modish aesthetics," said developer and owner Jack Menashe. "The restored architecture makes Limelight the distinctive spot that it is -- allowing for an exciting shopping experience.”

New York City -- Electronic Arts, the Redwood City, Calif.-based sports video game developer, will make its freestanding retail debut this fall, opening an EA Sports store in North Carolina’s Charlotte/Douglas International Airport.

The company is looking to open at least two additional stores in the next year.

New York City -- Best Buy plans to reduce its store size by subleasing store space to smaller retailers, according to The Los Angeles Times. The chain’s new stores will be in the 36,000-sq.-ft. range, down from its current 45,000-sq.-ft. model.

"We can reduce our overall square footage while actually increasing our presence," Best Buy CEO Brian Dunn said at the company's annual shareholders meeting this week. "It's an opportunity to capture cost savings and get ourselves 'right size.'"