Development/Redevelopment

REI (Recreational Equipment, Inc.) has opened its first Manhattan location, in the landmarked Puck Building in SoHo. The 35,000-sq.-ft. space (14,000 sq. ft. of selling space) has been restored to honor the iconic building’s more-than-century-old history — with a respect to detail evident throughout. How did REI come to select the Puck Building?

Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that profit for the quarter ended Nov. 26 rose 28% to $228.5 million, compared with $188.6 million in the year-ago period.

Revenue rose 6.8% to $2.3 billion, from $2.2 billion a year earlier. Same-store sales increased 4.1%.

During the quarter, the company opened seven Bed Bath & Beyond stores, seven Buybuy Baby stores, one Christmas Tree Shops store and one Harmon Face Values store.

Pittsburgh -- American Eagle Outfitters announced Wednesday that it has opened stores in three new international markets — Morocco, Jordan and Egypt.

The company said it also opened its third store in Saudi Arabia, and has plans for a second store in Lebanon in early 2012. The retailer currently operates in Egypt, Jordan, Kuwait, Lebanon, Morocco, Saudi Arabia, and the UAE through its franchise partner, M.H. Alshaya.

Colton, Calif. -- The Hodgdon Group, a full-service real estate brokerage, development and construction firm, announced that it has completed construction on the conversion of the former Levitz building at Northridge Fashion Center in Northridge, Calif., for the opening of an Ashley Furniture HomeStore.

Hodgdon-Miank Construction served as the full-service design-build contractor and completed the major renovation of the 34,000-sq.-ft. Ashley store. This is the 12th Ashley HomeStore to open, which has been completed by the Hodgdon Group.
 

New York City -- It’s true: Everything old is new again. New York City’s retail maven, Faith Hope Consolo, chairman of Prudential Douglas Elliman’s Retail Leasing, Marketing & Sales Division, has put together a list of her favorite store makeovers of the past year. As Consolo notes, even the most iconic stores must constantly present a new, fresh face to keep shoppers coming. Here are her faves:

Chicago --General Growth Properties said its board approved the spinoff of its Rouse Properties Inc. subsidiary, to consist of 30 regional shopping centers in 19 states.

The separation will be completed through a pro rata taxable dividend on Jan. 12, to stockholders of record as of the close of U.S. exchanges on Dec. 30, Chicago-based General Growth said today in a statement.

Bethesda, Md. -- Archiecture and design firm Streetsense said Monday it has created an all-new interior design scheme for La Madeleine French Country Cafe, a national chain of French-themed fast-casual restaurants.

A 1,194-sq.-ft. restaurant using the new prototype design is now open at Northpark Center in Dallas, while another is under construction in Tulsa, Okla. La Madeleine also has engaged Streetsense to design two new stores planned for the Washington, D.C. metropolitan region, one in Tysons Corner, Va., and one in Silver Spring, Md.

Indianapolis -- Kite Realty Group said that Sleep Outfitters has leased 4,000 sq. ft. at Red Bank Commons, located in Evansville, Ind.

Sleep Outfitters joins Fashion Bug and Hibbett Sports in the 34,258-sq.-ft. shopping center.