Development/Redevelopment

Honolulu -- Columbus, Ohio-based Glimcher Realty Trust announced plans to acquire 80% indirect ownership interest in Pearlridge Center, located in Honolulu, for about $290 million from partner Blackstone Real Estate Partners.

“With sales of nearly $500 per square foot and a dynamic growth profile, this strategic investment is consistent with our goal of enhancing the quality of our real estate portfolio,” said Michael Glimcher, chairman and CEO, Glimcher.

Costa Mesa, Calif. -- ChrisAnn and Roger Richards announced the opening of their second wine and cheese bar and shop, Wine Lab at The Camp, located in the restaurant and shopping destination at 2937 Bristol Street in Costa Mesa, Calif.

The 1,270 sq.-ft. bar, designed with a mid-century flair, augments the debut location in Newport, Calif., and features wines and beer on tap as well as a retail shop.
 

Corpus Christi, Texas -- Dolphin Ventures and EWB Development announced that they will develop The Outlets at Corpus Christi Bay, located in Corpus Christi, Texas.

The project will be a partnership with the Lockard Cos.

Phase one, slated to contain 281,526 sq. ft., is targeted for a late 2013 opening.

“This center will fill a void in the Texas market and is one of the very last major tourist destinations in the U.S. without an outlet center,” said Lisa Quier Wagner of Dolphin Ventures and EWB Development.

Westchester, Ill. -- Charles Sparks + Co. announced the debut of its design for the new Neiman Marcus store in Walnut Creek, Calif. The 85,000-sq.-ft., three-level location represents a fresh new vision of modern luxury in a smaller format store for the luxury department store retailer.

Bensalem, Pa. -- Charming Shoppes Inc. recorded a wider-than-expected loss for its fourth quarter as higher product costs and discounts at its Lane Bryant division cut into margins. The chain said plans to close between 90 to 105 underperforming stores this year.

Charming Shoppes, which hired Barclays Capital in December to help it review its options, posted a loss of $13.2 million for the three months ended January 28, 2012, compared with a loss of $30.4 million a year ago.

North Plainfield, N.J. -- Levin Management announced that it has named Joe Lowry as director of acquisitions and business development for the company.

The 25-year commercial real estate industry veteran joined Levin in 2009 as director of acquisitions. His added responsibilities reflect the firm’s ongoing focus on adding new clients from among institutions, fund managers and private owners it does not already serve.

Louis Vuitton Island Maison, part of the Marina Bay Sands resort complex in Singapore, represents the ultimate in luxury retail destinations. The striking crystal and glass structure, which sits directly on the water, was awarded top honors in the Association for Retail Environments’ (A.R.E.) design competition. It features the entire the complete Louis Vuitton offering, from its men's and women's collections to jewelry and accessories. It also houses a bookstore with a curated selection of books on travel, design, art and culture.

Boca Raton, Fla. -- Office Depot Inc. will open 13 newly remodeled locations in the Houston area on March 28.

The updates stores feature more colorful signage and easy-to-navigate floor plans. The stores were redesigned based on customer feedback and shopping patterns.

Office Depot operates 1,677 stores in 60 countries, 46 of which are located in the Houston area.