Development/Redevelopment

New York -- Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

Goodlettsville, Tenn. -- Dollar General Corp. announced the opening of its 10,000 store, giving the retailer a coast-to-coast presence for the first time in its history. The location is in Merced, Calif., and is due to officially open on Saturday. It will be Dollar General’s fifth store to open in California.

“Opening the doors of our 10,000th store is a meaningful day for all of us at Dollar General, and we are excited to celebrate the occasion in California,” said Rick Dreiling, Dollar General’s chairman and CEO.

GOODLETTSVILLE, Tenn. — Nothing is slowing down Dollar General, which, shortly after reporting surging quarterly sales and profits, announced that it will open its 10,000th store in the United States. The store will be located in Merced, Calif., and is one the company's first stores in California.

New York -- Los Angeles Alliance for a New Economy, a Los Angeles community group, as filed an appeal against the building permits granted to Wal-Mart Stores to build a store in the city's Chinatown neighborhood, the Associated Press reported.

The chain obtained necessary permits to build a 33,000-sq-ft. store last week, one day before the City Council was due to vote on a building moratorium for large retail chains in Chinatown, the report said.
 

Minneapolis -- In a move to tighten its footprint and reduce costs, Best Buy Co. said Thursday it will close 50 of its signature big-box stores and open 100 of its small mobile locations in the United States in fiscal 2013. The shift will help cut $250 million in costs by 2013 and $800 million by 2015, said the electronics retailer.

Boston-based The Wilder Cos. has taken on a new leasing and management assignment – the open-air specialty shopping center The Shops at Valley Square, in Warrington, Pa.

Located in Bucks County, Pa., just north of Philadelphia, The Shops at Valley Square is part of a 140-acre mixed-use development that includes office, retail and residential.

MINNEAPOLIS — In a move to tighten its footprint and reduce costs, Best Buy Co. said Thursday it will close 50 of its signature big-box stores and open 100 of its small mobile locations in the United States in fiscal 2013. The shift will help cut $250 million in costs by 2013 and $800 million by 2015, said the electronics retailer.

Minneapolis -- Target Corp. announced Thursday the location of its first 12 stores in Quebec. As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.

Target said it intends to announce additional Quebec store locations in the coming months.

Target plans to open stores in the following locations in fall 2013: