Development/Redevelopment

Bloomfield Hills, Mich. -- Taubman Centers said Thursday that it will begin construction this summer on its 640,000-sq.-ft. Mall of San Juan, in San Juan, Puerto Rico.

Formerly known as Plaza Internacional, The Mall of San Juan will be a state-of-the-art, two-level, enclosed mall anchored by a 138,000-sq.-ft. Nordstrom and a 100,000-sq.-ft. Saks Fifth Avenue. It will be the first upscale mall on the island and the first and only location in Puerto Rico for both Nordstrom and Saks. 

HOFFMANESTATES, Ill. — Sears Holdings posted net income of $189 million in the quarter, compared with a loss of $165 million in the prior-year period.

After several rounds of closings of Kmart and Sears full-line stores in the past months, revenues decreased $270 million to $9.3 billion for the quarter ended April 28. Domestic comp-store sales declined 1.3% -- 1.0% at Sears Domestic and 1.6% at Kmart. Sears also saw declines in its home appliances and consumer electronics categories.

Williamsburg, Va. -- Divaris Real Estate announced it has been appointed the exclusive leasing and management firm for The Marquis, located in Williamsburg, Va.

The Marquis is a 750,000-sq.-ft., regional power center. At its completion, The Marquis will be the largest retail development in Williamsburg, featuring specialty retailers and restaurants and several big-box retailers including Target, Kohl’s, Dick’s Sporting Goods, Best Buy and J.C. Penney.

Chattanooga, Tenn. -- CBL & Associates Properties and Horizon Group Properties said Tuesday that construction will begin immediately on the second phase of The Outlet Shoppes at Oklahoma City.

The 28,000-sq.-ft. expansion is scheduled to open in November and will bring Columbia Sports, Ann Taylor Loft, Waterford, Kenneth Cole, Lucky Brand and more to the center.

Greensboro, N.C. -- Tanger Outlets said Tuesday that the multi-million-dollar renovation of its newly acquired Ocean City property is nearing completion, with an unveiling slated for the end of May.

Geneseo, N.Y. -- Purchase, N.Y.-based National Realty & Development Corp. said that CountryMax, a family-owned and operated retailer of pet, farm and lawn & garden supplies, has opened at Geneseo Towne Plaza, in Geneseo, N.Y.

CountryMax opened at the center April 4th and occupies 17,600 sq. ft. In addition to CountryMax, the center is anchored by The Goodwill Store and Grossman’s Bargain Outlet.
 

As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with Jones Lang LaSalle’s Lew Kornberg about what his expectations are for the big real estate show. Visit JLL’s booth at RECon, Central Hall, C1001.

What are your expectations for RECon 2012 in terms of activity, attitude, priorities?

New York -- Dylan's Candy Bar will open its first West Coast location in Los Angeles, this summer. The 2,500-sq.-ft. store will be located in a historic landmark: the Original Farmers Market on the corner of Third and Fairfax.

“We opened our first store 10 years ago in NYC fulfilling a childhood dream of mine to create the largest, most magical candy store,” said Dylan Lauren, founder and CEO of Dylan's Candy Bar. “Now I'm thrilled to bring my love of color, design and the joy of candy from coast to coast!”