Development/Redevelopment

Dallas -- Venture Commercial said that LA Fitness has signed a long-term lease to open a 45,000-sq.-ft. facility in Garland, Texas.

The sports club will build a prototype building on the site of the former Mervyn’s building, which is being razed.
 

Somerdale, N.J. -- Purchase, N.Y.-based National Realty & Development Corp. said that YoGo Factory opened at CooperTowne Center in April.

The 366,865-sq.-ft. shopping center is located 10 miles from Philadelphia and is anchored by Walmart Supercenter, Cinemark 16-screen theater and LA Fitness.

YoGo Factory is a self-serve frozen yogurt shop with seven locations open in southern New Jersey and an additional 22 stores opening in the coming months.
 

Indianapolis -- Simon Property Group announced that Saks Fifth Avenue Off 5th will open a total of seven new stores in the next two years in its Premium Outlets division, including new centers and existing centers.

Plano, Texas -- Charlotte, N.C.-based Versona Accessories said it will open a new store on May 24, in Plano, Texas, at Preston Park Village.

The jewelry and accessories retailer is a Cato Corp., concept.
 

Chicago -- A recent report from Jones Lang LaSalle showed that the current state of real estate markets suggests a temporary deceleration in the on-going global real estate market recovery.

According to JLL’s latest Global Market Perspective report, sentiment is, however, recovering and full-year 2012 commercial real estate volumes are expected to match the robust levels seen in 2011.

Purchase, N.Y. -- National Realty & Development Corp. said it has been chosen to receive the New Jersey Future 2012 Smart Growth Award for the redevelopment of CooperTowne Center in Somerdale, N.J.

The award recognizes the best development or redevelopment projects around the state that embrace sustainable growth and environmental preservation. CooperTowne Center was classified as a greyfields project, one of the first in the state, by the New Jersey Office of Smart Growth.

New York -- RKF announced the opening of a Chicago office as part of its ongoing expansion into key urban markets nationwide. This is the firm’s seventh office; others include its New York headquarters, Las Vegas, Los Angeles, Miami, Northern New Jersey, and San Francisco.

“The opening of our Chicago office is a crucial part of our national strategy to expand RKF’s on-the-ground presence in key urban markets in the U.S.,” said RKF chairman & CEO Robert Futterman.

Omaha, Neb. -- Midwestern discount department store retailer Gordman’s Stores said Friday that profit for the quarter ended April 28 rose 10.6% to $8.1 million, compared with $7.3 million in the year-ago period.

Sales rose 13.8% to $133.9 million, from $117.7 million. Same-store sales climbed 4.7%.

“We are pleased with our overall performance and remain confident in our ability to realize our sales and profit guidance for fiscal 2012," said Jeff Gordman, president and CEO.