Development/Redevelopment

Plymouth Meeting, Pa. -- Fameco Real Estate is opening an office in Center City, Philadelphia, to better accommodate the growth of its clientele in the market.

Fameco will be fully operational in the center city office at 1425 Walnut Street in early June. Fameco partners Jeffrey Cohen, Brandon Famous and Rick Schuch will spearhead this new initiative.

Menomonee Falls, Wis. -- Kohl’s Corp. said Thursday its first-quarter earnings rose 6%, helped by online sales and Easter demand in the Southeast.

Net income rose to $211 million from $199 million in the year-ago period. Sales in the quarter ended April 30 rose 3.1% to $4.16 billion. Same-store sales were up 1.3%.

New York City -- Target Corp. is setting up three distribution centers in Canada in preparation for its debut north of the border, according to a report in The Globe and Mail.

Although the retailer could have supplied the stores from its U.S. warehouses, it chose to set up a network specifically for its Canadian operations, the report said, with DCs planned for Toronto, Calgary and Vancouver.

Tejon, Calif. -- Ikea on Wednesday flipped the switch on a newly constructed solar energy system at its southwestern U.S. distribution center in Tejon, Calif. The 370,000-sq.-ft. solar array consists of a 1.8 MW system designed and installed by California-based REC Solar, and built with 7,980 REC Group panels.

New York City -- TIAA-CREF, a national financial services organization and a provider of retirement services for educators, and CBL & Associates Properties have formed a $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF will invest in four of CBL’s shopping malls: Oakland Park Mall, Kansas City, Ks.; West County Center, St. Louis; CoolSprings Galleria, Nashville; and Pearland Town Center, Pearland, Texas.

Seattle -- Nordstrom announced plans to relocate its Nordstrom Rack at The Mall at The Source to the Gallery at Westbury Plaza. The new store will be located approximately a quarter of a mile from the existing location and is expected to open in fall 2012.

Hoffman Estates, Ill. -- Sears Holdings Corp. is researching a possible move of its headquarters and 6,200 jobs out of Illinois, a company spokesman said Monday.

The retailer has had preliminary discussions with the Chicago suburb of Hoffman Estates, where it is located, and has commissioned an economic impact study, according to spokesman Chris Brathwaite.

Fort Myers, Fla. -- Chico's FAS is building a new Performance Optimized Data (POD) center at its distribution and fulfillment facility in Winder, Ga.

POD technology, often referred to as, "data center in a box," employs modular pre-fabricated reinforced steel containers, approximately the size of a train freight car, to house and efficiently cool vital information technology hardware.

New York City -- Simon Property Group is set to sell its newly bought Prime Outlets retail shops in Jeffersonville, Ohio, as part of a deal with federal regulators that required it to sell one of two Ohio properties, the Dayton Business Journal reported.

Simon, which bought the 22-site outlet arm of Prime Outlets Acquisition Co. last year for $2.3 billion, was required to sell either the Jeffersonville site or Cincinnati Premium Outlets in Butler County amid concerns that it would gain an anti-competitive advantage in the market.

East Rutherford, N.J. -- Triple Five on Monday gave more information on its plans to transform the controversial and long-delayed Xanadu project in New Jersey’s Meadowlands Sports Complex, in East Rutherford, into what it promises will be “the world's largest and premier tourism, entertainment and retail destination, eventually reaching 7.5 million sq. ft.”