Development/Redevelopment

Roswell, Ga. -- PGA Tour Superstore plans to open a 60,000-sq.-ft. store in the Chicago area in late spring 2012, followed by an additional location in the area later in the year. The two Chicago metro stores will be the company’s first locations in the Midwest.

The first store will be located in Schaumburg at the site of the former Great Indoors store at Golf Road and Meacham Road near Woodfield Mall, the largest mall in Chicagoland. The location of the second store will be announced at a later date.

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.

Well, the holidays are finally over and the verdict is in: Retailers reported a 3.5% year-over-year sales increase in December — that’s better than I thought we would see — and a 3.3% increase overall for the season. While slightly more than some analysts anticipated (myself included!), it wasn’t the happiest holiday for everyone. Certain sectors (electronics) and brands (Macy’s, Nordstrom) did better than expected, while others (Target and J.C. Penney) did worse.

Atlanta -- Jones Lang LaSalle said it has been named as the exclusive management and leasing provider for Townline Square, a 216,000-sq.-ft. community center located in Mundelein, Ill., and anchored by Jewel-Osco.

JLL’s retail portfolio in Chicagoland has grown to more than six million sq. ft. At Townline Square, Jones Lang LaSalle will manage a redevelopment of the property, which includes façade renovations, new landscaping and signage upgrades all of which are designed to increase tenant occupancy and drive sales.

Smart move by Target to open its first wave of Canadian stores in Ontario, as the province accounts for roughly one third of the nation’s 36 million residents and is home to Target Canada headquarters and distribution facilities.

New York City -- Shopping centers in the United States had their first net gain in occupied space in four years amid a rise in consumer confidence and job growth, according real estate research firm Reis Inc., Bloomberg reported.

Neighborhood and community shopping shoppers saw a net increase of 3.18 million sq. ft. in the fourth quarter, the most since 10.1 million sq. ft. in the last three months of 2007.

New York City -- Fresh & Easy Neighborhood Market, the U.S. division of Tesco, plans to close 12 underperforming stores, according to the Orange County Register. The company, however, left open the door to re-opening the stores at a later date.