Development/Redevelopment

Editor’s note: Chain Store Age’s 23rd annual survey of Fastest-Growing Acquirers measured retail square footage purchased during the 2011 calendar year.

For some companies, being among the top acquirers of shopping centers almost is business as usual — top-ranked Inland Real Estate is a perennial leader, largely through avidly scouring daily for possible deals, while Kimco maintained its focus on top projects in top markets.

Washington, D.C.  -- The retail real estate sector posted positive net absorption, a stable vacancy, and a near-stabilization of rent for the first quarter of 2012, according to the latest research from CoStar Group.

There’s no doubt that Canada is very much on the minds of U.S. retailers these days. As our cover story points out, Canada is attractive for a number of reasons, from its growing population to its resilient economy. But there is plenty of expansion going on here at home too. The extent of the activity is detailed in the “Spring 2012 Retailer and Restaurant Expansion Guide” from ChainLinks Retail Advisors. The comprehensive report, which details the current expansion plans for more than 2,500 U.S.

While there still is not enough new shopping center construction to warrant a “Fastest-Growing Developers” ranking system — as Chain Store Age provided for 20 consecutive years, from 1989 to 2008 — progress continues to be made.

New York -- Lord & Taylor has opened an 80,000-sq.-ft. store in Ridge Hill center, Westchester, N.Y.

The store, which cost a reported $30 million to build, has a very contemporary look and spacious feel, with large Italian white tiles throughout.

Fort Worth, Texas -- Trademark Property said Wednesday it has purchased two retail centers located directly across from La Palmera mall in Corpus Christi, Texas.

The 15.5-acre Staples Center, built in the 1980s, and the 3.8-acre Mt. Vernon Center, built in the 1940s, will undergo rebranding along with a major redesign and renovation, scheduled to begin late 2012 with completion slated for 2013.

The redeveloped center, to be named The Shops at La Palmera, will total approximately 200,000 sq. ft.

New York -- Retailers’ growth plans are running about 5% ahead of year-ago projections, according to ChainLinks Retail Advisors’ Spring 2012 Retailer and Restaurant Expansion Guide.

Simsbury, Conn. -- Charter Realty & Development said it has leased 23,500 sq. ft. to HomeGoods in Simsbury, Conn.

HomeGoods, a TJX banner, will be opening in Simsbury Commons Shopping Center in a former Borders location, joining Stop & Shop, Bed Bath & Beyond, Hoyt Cinema and Bob’s Store.

The 256,497-sq.-ft. center is owned by Columbia, S.C.-based EDENS.

Charter Realty & Development represents TJX Cos., including HomeGoods, T.J. Maxx and Marshalls, throughout the eastern half of the United States.