Development/Redevelopment

Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended Feb. 26 rose 10% to $123.2 million, compared with $112.2 million a year earlier. Results were helped in part by improved traffic and higher transaction value.

Revenue increased 8% to $2.26 billion, from $2.09 billion. Same-store sales rose 5.1%.

Earlier in March, Family Dollar turned down an approximately $7 billion buyout offer from minority shareholder Nelson Peltz's Trian Fund.

Chicago – Bar-and-restaurant concept Bar Louie said Tuesday it is undertaking a major national expansion initiative of more than 100 new locations in 20 markets nationwide and has appointed Jones Lang LaSalle as its exclusive real estate advisor.

Jones Lang LaSalle will work in tandem with Bar Louie’s real estate team and select brokers in various markets to leverage both tenant-favorable conditions, as well as the availability of vacant full-amenity restaurant space located within high-density urban and suburban markets.

New York City -- Prudential Douglas Elliman’s Retail Group announced that it has arranged a space for European fashion icon Piero Guidi at 430 West Broadway in New York City.

The 3,600-sq.-ft., double-height space features all-glass frontage, between Prince and Spring Streets.

Bethesda, Md. -- Retail real estate alliance X Team International said it has named a new partner, Bethesda, Md.-based Streetsense.

Beyond traditional landlord and tenant representation, Streetsense offers architecture, interior design, branding, marketing and merchandising strategies to entrepreneurs, retailers, developers and public sector entities. 

New York City -- Robert K. Futterman & Associates said it has brought Gastón Acurio's Peruvian restaurant concept La Mar to New York City's Madison Square Park, as Acurio’s company has taken over the former Tabla space at 11 Madison Ave.

RKF recently arranged the retail lease assignment, including approximately 9,000 sq. ft. on two floors, in the Credit Suisse Building on the southeast corner of 25th Street.

The restaurant is slated to open in the fall.

San Francisco -- Madison Marquette has announced the return of its retail business incubator program it calls Retail Star.

As part of the program, Madison Marquette is on the hunt for the third consecutive year to find entrepreneurs with new viable retail concepts.

The competition returns to Bayfair Center, in San Leandro, Calif., and kicks-off for the first time this year at Bay Street, in Emeryville, Calif., according to Madison Marquette.

Chevy Chase, Md. -- JBG Rosenfeld Retail said it recently inked a long-term lease on behalf of kitchen and bath tile manufacturer and distributor Porcelanosa for a 12,500-sq.-ft. storefront formerly occupied by Anthropologie.

The building, located at 11500 Rockville Pike, sits next to JBGR’s new North Bethesda Market development.

Porcelanosa currently occupies an 8,000-sq.-ft. showroom in the 700 block of Rockville Pike in the Marlo building. 

Kohl’s will open its third distribution center devoted to e-commerce by July as it looks to build on the 50% growth rate experienced last year and surpass annual online sales of $1 billion in 2011.

Menomonee Falls, Wis. -- Kohl's Corp. said Tuesday that plans to open a distribution center in July in Maryland that will create about 1,200 jobs over the next three years.

According to the retailer, the Edgewood, Md., DC will fulfill online orders. Kohl’s anticipates hiring more than 200 full- and part-time employees when the center opens in July.

With the newest DC, Kohl's will have a total of 12 distribution centers across the United States.

Katy, Texas -- Houston-area sports retailer Academy Sports + Outdoors announced Tuesday that it will enter the Atlanta market with a new store opening on April 1.

The 70,000-sq.-ft. store is located in McDonough, and is the chain’s fourth store in Georgia.