Development/Redevelopment

Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that profit for the quarter ended May 26 rose 12.1% to $124.5 million, compared with $111.1 million in the year-ago period.

Sales increased 9.6% to $2.36 billion, just missing Wall Street’s forecasts of $2.37 billion in sales. Same-store sales climbed 5%.
   

NEW YORK — With the Nordstrom name often associated with high fashion, it is surprising that the retailer does not already have a flagship in New York City. In 2018, however, that will all change when the first full-line Nordstrom's store opens in the Columbus Circle area of Manahttan.

The store is being built by Extell Development Company and will occupy 285,000 square feet.

New York -- Confirming the rumors that have swirled for the last few days, Seattle-based Nordstrom said Thursday that it has found a site for its full full-line department store in New York City.

The 285,000-sq.-ft. flagship will open along the 57th Street corridor at 225 West 57th – between Broadway and Seventh Avenue – at a site owned by Extell Development Co.

The store is expected to open in 2018.
 

Goldsboro, N.C. -- Casto announced that Harris Teeter will open a 53,000-sq.-ft. store at Memorial Commons, located in Goldsboro, N.C. It is the grocer’s first store in the market.

Harris Teeter is slated to open late 2013, and will join Office Depot, Subway, Starbucks and T-Mobile.

Memorial Commons, a joint venture of Casto and 1st Carolina Properties, is a new neighborhood center located at the gateway to Wayne Memorial Hospital and Wayne County Community College.
 

St. Paul, Minn. -- Jones Lang LaSalle said it has been selected by the Ramsey County (Minnesota) Regional Rail Authority as the exclusive property management and retail leasing agent for St. Paul Union Depot.

Fort Worth, Texas -- Fort Worth-based Trademark Property Co. said Tuesday that Dick’s Sporting Goods will open at Alliance Town Center, located in North Fort Worth.

The 50,000-sq.-ft. store will anchor a 140,000-sq.-ft. Phase 2 of the center. Construction on Dick’s is scheduled to begin in July with opening set for summer 2013.

Alliance Town Center, currently 800,000 sq. ft., is a joint venture of Hillwood and Trademark, and is part of the 17,000-acre Alliance, Texas, master-planned community.

Woodbridge, Va. -- Island-inspired restaurateur Bahama Breeze will make its Virginia debut with a freestanding location at Potomac Mills, the largest outlet and value retail shopping destination in Virginia.

The new location will be adjacent to The Cheesecake Factory and a first-in-market Bobby’s Burger Palace opening this November in a new plaza to be developed on the south side of Potomac Mills.

Dallas -- SRS Real Estate Partners said it has named Adam Gerry as a first VP in the Orlando, Fla., office.

Before joining SRS, Gerry was VP sales and leasing for J. Wayne Miller Co., an Orlando-based principal, development and brokerage firm.