Real Estate

Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that profit for the quarter ended May 26 rose 12.1% to $124.5 million, compared with $111.1 million in the year-ago period.

Sales increased 9.6% to $2.36 billion, just missing Wall Street’s forecasts of $2.37 billion in sales. Same-store sales climbed 5%.
   

I mentioned briefly in my last column that I’ve been a little puzzled by what seems to be an industry-wide reluctance to design and develop, and in many cases redevelop centers into, true mixed-use venues. It’s not that our industry doesn’t get excited about mixed-use spaces — they clearly do. But, something is getting lost between the glamorous articles and design concepts, and the real-world execution.

Fort Worth, Texas -- Fort Worth-based Trademark Property Co. said Tuesday that Dick’s Sporting Goods will open at Alliance Town Center, located in North Fort Worth.

The 50,000-sq.-ft. store will anchor a 140,000-sq.-ft. Phase 2 of the center. Construction on Dick’s is scheduled to begin in July with opening set for summer 2013.

Alliance Town Center, currently 800,000 sq. ft., is a joint venture of Hillwood and Trademark, and is part of the 17,000-acre Alliance, Texas, master-planned community.

Edgewater, N.J. -- North Plainfield, N.J.-based Levin Management Corp. announced that HomeGoods, a TJX Cos. banner, will anchor the 100,000-sq.-ft. retail component of Edgewater Harbor, a mixed-use waterfront redevelopment in Edgewater, N.J.

HomeGoods has leased 24,000 sq. ft. and will join newly opened CVS Pharmacy, Moe's Southwest Grill, AT&T, Beach Bum Tanning, Epique Massage and Edgewater Dry Cleaners.

Chestnut Hill, Mass. -- WS Development said that Pottery Barn, along with Swedish children’s apparel retailer Polarn O. Pyret and locally based Treat Cupcake Bar, will open at its Chestnut Hill Shopping Center.

The new stores are scheduled to open in spring 2013 in a new building at the site of the former Macy’s.
 
Other new stores to open in the 406,000-sq.-ft. shopping and dining destination include The Sports Club/LA, Cinema de Lux, Shake Shack, Pinkberry, and gourmet Asian restaurant Bernard’s.

St. Paul, Minn. -- Jones Lang LaSalle said it has been selected by the Ramsey County (Minnesota) Regional Rail Authority as the exclusive property management and retail leasing agent for St. Paul Union Depot.

Dallas -- SRS Real Estate Partners said it has named Adam Gerry as a first VP in the Orlando, Fla., office.

Before joining SRS, Gerry was VP sales and leasing for J. Wayne Miller Co., an Orlando-based principal, development and brokerage firm.
 

Carmel, Ind. -- Indianapolis-based Kite Realty Group said that Earth Fare will open a 25,000-sq.-ft. store at Rangeline Crossing, formally known as The Centre and located in Carmel, Ind.

Now under redevelopment, the 83,533-sq.-ft. Rangeline Crossing is owned by KRG Centre.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that Cinnabon has opened a 210-sq.-ft. kiosk at Moorestown Mall, located in Moorestown, N.J.

Cinnabon opened at Moorestown Mall on the heels of Books for Less, while Play N Trade and Nailery are set to open at the mall this summer.

Goldsboro, N.C. -- Casto announced that Harris Teeter will open a 53,000-sq.-ft. store at Memorial Commons, located in Goldsboro, N.C. It is the grocer’s first store in the market.

Harris Teeter is slated to open late 2013, and will join Office Depot, Subway, Starbucks and T-Mobile.

Memorial Commons, a joint venture of Casto and 1st Carolina Properties, is a new neighborhood center located at the gateway to Wayne Memorial Hospital and Wayne County Community College.