Development/Redevelopment

CINCINNATI — Macy's Inc. reported that earnings were 32 cents per diluted share for the third quarter of 2011, ended Oct. 29, compared with earnings of 2 cents per diluted share in last year's third quarter, or 8 cents per diluted share in last year's third quarter excluding expenses of 6 cents per share associated with the repurchase of debt.

Taking over an existing retail space can be a good move, as long as you have all the facts from the get-go, especially with regard to the floor. Lee Eliseian, president of Independent Floor Testing & Inspection, offers the following tips to prevent flooring issues from arising:

Seattle -- Nordstrom Rack announced plans to open a store in San Diego. It will be the brand’s fourth location in San Diego.

The approximately 39,000-sq.-ft. store is scheduled to open during fall 2012 at Carmel Mountain Plaza. Carmel Mountain Plaza is owned and managed by American Assets Trust.

 

Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with father and son team, Jim and Drew Cownie for 12 new restaurants in Des Moines, Iowa.

The first restaurant is slated to open in 2012 and the remainder by 2018.

Buffalo, N.Y. -- New Era announced it will open its 10th flagship, in the heart of downtown Chicago. The two-level, 4,500-sq.-ft. store, New Era's largest location to date, will sell licensed and New Era branded headwear, apparel and accessories for men, women and kids. The brand is best known for being the official on-field cap for Major League Baseball.

New York City -- Target Corp. is building a distribution center in Denton, Texas, the Dallas Business Journal reported.

The 360,000-sq.-ft. center is expected to open in March 2013.
 

Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that Bobby’s Burger Palace is now open at Cherry Hill Mall, in Cherry Hill, N.J.

Acclaimed cef Bobby Flay’s BBP joins Bahama Breeze, California Pizza Kitchen, Maggiano’s Little Italy and Seasons 52 along the mall’s Bistro Row, facing Route 38 near the new Nordstrom.

When a major mall wants to create a stir, adding a premier department store retailer such as Bloomingdale’s will usually do the trick.

In early November, Chicago-based General Growth Properties announced that it will add Bloomies as an anchor to its Glendale Galleria property, in Glendale, Calif. As well, said GGP, the center will undergo an expansive renovation, incorporating aesthetic updates to both the interior and exterior of the property.