Development/Redevelopment

Frisco, Texas -- New York City-based Centro Properties Group said that The Foundry Big & Tall Supply Co. has opened at Preston Ridge, located in Frisco, Texas.

The 5,000-sq.-ft. store is part of the new Growth Brands Division at J.C. Penney Co.

Preston Ridge is owned by Centro.
 

Plymouth Meeting, Pa. -- Fameco Real Estate announced that it is opening an office in center city Philadelphia to better accommodate the growth of its clientele in the market. 

Las Vegas -- The Forum Shops at Caesars, in Las Vegas, announced that six new stores will be opening soon, joining the 11 new stores and restaurants that have come to The Forum Shops in the past year.

The new stores include Christian Louboutin, Rimowa, Panerai, Hublot and Coach Mens – a first in Las Vegas.

St. Paul, Minn. -- Paster Enterprises announced that Whole Foods Market is opening a 32,000-sq.-ft. standalone location at the company’s Minnetonka property.

Construction on the project, a joint venture between Paster Enterprises and Shiner Capital Partners, a Chicago-based real estate investment firm, officially began on April 20.

Fort Worth, Texas -- Trademark Property Co. said it is relaunching its WestBend mixed-use development in Fort Worth, Texas.

The move comes after strategically halting construction in fall of 2008 to wait for a recovery in the retail market. The first order of business will be the completion of the seven-level garage providing 798 parking spaces to serve the existing office buildings and restaurants. Additional new retail construction is slated to begin in mid-2012 with a grand opening projected for late 2013.

Encino, Calif. -- Marcus & Millichap Real Estate Investment Services said it has promoted Bill Rose to director of the National Retail Group.

Rose joined Marcus & Millichap’s San Diego office in September 2003 as a retail and multifamily investment specialist. He was promoted to senior associate in September 2006. He rejoined the firm in November 2009 as sales manager of the San Diego office and in November 2010 was named western regional director of the NRG.
 

Houston -- The Vista Cos. and Vista Spring Green, Ltd. announced that McDonald's USA has signed a 56,000-sq.-ft. ground lease at The Plazas at Spring Green.

Construction on a new 4,800-sq.-ft. McDonald’s restaurant will begin in the coming weeks and is set to open in November.

The Plazas at Spring Green, a Vista Equities Group development, is located in Katy, Texas.

MENOMONEE FALLS, Wis. — Kohl’s reported that its first quarter diluted earnings per share increased 14% to 73 cents, in line with Citi and Stifel analysts expectations and with the company's updated guidance that EPS would be toward the high-end of 68 cents to 73 cents (provided on May 5). Net income for the quarter was $211 million, compared with $199 million (64 cents per diluted share) a year ago. Net sales were $4.2 billion, an increase of 3.1% for the quarter. Comparable-store sales for the quarter increased 1.3%.

WAYNE, N.J. — Toys"R"Us is installing the largest rooftop solar power installation in North America at its distribution center in Flanders, N.J. Staging for the system is currently underway and construction will conclude this summer. Upon completion, the 5.38 megawatt on-site solar array will occupy 869,294 sq. ft. It is estimated to generate 72% of the electrical needs for the Toys"R"Us facility, which is the largest of the chain’s 10 DCs and covers over 1.5 million sq. ft., in addition to the roof, which spans 32 acres.

New York City -- Kohl’s Corp. is looking to focus on smaller stores as it continues to expand across the country, chairman and CEO Kevin Mansell said in remarks following the company's annual meeting Thursday, according to The Business Journal.

The chain expects to open about 40 stores this year, and 30 of them will be smaller models. Kohl’s smaller footprint generally averages about 60,000 sq. ft. as compared with 90,000 sq. ft. for a typical store, the report said.