Development/Redevelopment

MONTVALE, N.J. — Grocer A&P has announced plans to shutter 14 stores in four states as it prepares to emerge from bankruptcy.

The company has filed a motion with the U.S. Bankruptcy Court for the Southern District of New York seeking approval to close the stores. The store closures are expected to be completed in the company's fiscal first quarter, subject to court approval.

New York City -- Marcus & Millichap Real Estate Investment Services said Monday it has hired Joseph C. French Jr. to serve as a senior director of its National Retail Group. French was previously with Sperry Van Ness, where he specialized in retail property sales.

Marcus & Millichap also hired French’s team of investment specialists Thomas C. Dalzell, Schuyler Boylan and Amie Segel.
 

Columbus, Ohio -- DSW Inc. said Tuesday it will open between 35 and 40 stores in 2012, up from an initial plan of 15 to 20 new stores this year.

The footwear and accessories retailer also raised its annual earnings guidance.

“The expansion of our footprint into new and existing markets is a key growth initiative for us,” said Mike MacDonald, president and CEO, DSW Inc.

The majority of the new stores are slated to open in the second half of 2012, according to the company.

Dallas -- SRS Real Estate Partners said it has hired Stephanie Estabrook as a research consultant in the Denver office.

Previous to SRS, Estabrook worked for Edgemark Development where she was responsible for research and acquisitions.

Seattle -- Nordstrom plans to open a Nordstrom Rack in Tysons Corner, Va. The approximately 42,000-sq.-ft., two-level store is scheduled to open during fall 2012.

Nordstrom Rack will open in the former Filene's Basement space and join tenants Morton's Steakhouse, Bertucci's restaurant and Bank of America in a 215,000-sq.-ft.  mixed-use project. The project is owned by Rocks Tysons Two LLC and managed by Allen & Rocks, Inc. with KLNB Retail handling leasing.
 

Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that its first quarter profit rose 8% to $80.4 million, compared with $74.3 million in the year-ago period.

Sales for the period ended Nov. 26, 2011, rose to $2.15 billion from $2 billion in the year-ago period, missing Wall Street’s expected $2.17 billion in revenue. Same-store sales rose 4.1%.

Foxborough, Mass. -- Trader Joe's announced plans to open a new grocery store at Patriot Place, located in Foxborough, Mass., in 2012.

The 16,000-sq.-ft. store will be Trader Joe’s 18th Massachusetts location, and the only within a 15-mile radius of Foxborough. Trader Joe’s has leased existing space in Patriot Place’s South Marketplace between Christmas Tree Shops and Staples.

Minneapolis -- Target Corp.’s plan to open 125-135 stores in Canada is rapidly taking shape, as the retailer has released the locations of its first 24 stores in the country.

As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc.

The majority of Target’s initial two dozen stores will open in early 2013, and include four locations in Toronto (Centrepoint Mall, Cloverdale Mall, Shoppers World Danforth and East York Town Centre).