Development/Redevelopment

Naperville, Ill. -- Office Max Inc. reported Thursday net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.

Revenue for the quarter slipped 2.7% to $1.6 billion, missing analysts’ forecasted $1.64 billion in revenue. The office supply retailer said it will reinstate its quarterly common stock dividend, which it suspended more than three years ago.

Barnegat, N.J. -- North Plainfield, N.J.-based Levin Management Corp. said that Big Lots is slated to open a new anchor store at Bayshore Plaza in Barnegat, N.J., in August.

The 31,612-sq.-ft. store will fill a space formerly occupied by A&P.

Additional tenants include McDonald’s, AT&T Wireless, Barnegat Pharmacy, and a mix of local restaurants and services.

Levin serves as leasing and managing agent for Bayshore Plaza.
 

Lakewood, Colo. -- Indianapolis-based Simon Property Group said that Ann Taylor Loft will open a store this fall at outlet and value shopping destination Colorado Mills, located in the Denver suburb of Lakewood.

Loft will be located near Saks Fifth Avenue Off 5th, Ann Taylor Factory Outlet and Banana Republic Factory Store.
 

New York -- Aurora Capital Associates, a real estate investment firm, is reported to be acquiring New York-based discount retailer Daffys with plans to sublease its stores, according to Crain’s New York.

Daffy’s, which operates 19 stores, in July announced plans to liquidate by October.

The company has several prime real estate sites, eight of which are located in prime shopping area of Manhattan.

Real Estate Weekly first reported the news concerning Daffy’s possible acquisition.

El Segundo, Calif. -- Big 5 Sporting Goods Corp.'s quarterly profit beat Wall Street estimates, fueled by strong sales of apparel and footwear.

For the second quarter, ended July 1, the company posted net income of $2.6 million.

Sales rose 4% to $226.6 million, narrowly missing Wall Street estimates of $227.4 million, which the company attributed to July 4th-related sales shifting to the third quarter. Same-store sales increased 1.0%.

Denver -- National Grocers by Vitamin Cottage said Tuesday that its first Arizona store – in Flagstaff – has opened, and will be joined by two additional stores located in Sedona and Prescott.

The privately owned regional grocery chain, which operates 56 stores in 12 states, incorporated environmentally friendly elements into the Flagstaff store. Energy-efficient features include motion light sensors, 100% post-consumer content tiles, polished concrete flooring and commercial-grade LED lights.  And the chain is 100% shopping bag free.

Hong Kong -- A Tuesday report by Bloomberg said that J. Crew will open its first Asia store – in Hong Kong – as early as 2013. CEO Millard “Mickey” Drexler told the news service that the retailer is also seeking sites in Beijing and Shanghai.

“We feel that we’re ready to go international,” said Drexler. “Going international is a strong learning curve and it could distract us from building our business in the United States, but we feel that the time is right now.”

WAYNE, N.J. — Toys"R"Us continues on its path to bring its Toys"R"Us and Babies"R"Us stores under one roof as part of its integrated store strategy. The company announced that by the end of the year it will have opened eight new stores and transformed 13 existing locations to the side-by-side model in 2012. In adding eight new stores and renovating 13 existing locations, the company will create more than 400 new jobs across the country.