Real Estate

London -- A report issued by C.B. Richard Ellis on Friday said that global shopping center development has reached unprecedented levels of construction and new openings, fueled by growing middle classes and retailer expansion.

According to the most recent research by CBRE, which measured shopping center development activity in 180 of the world’s major cities – including 2011 completions and space currently under construction – 318.6 million sq. ft. is currently under construction and about 84 million sq. ft. opened in 2011.

Philadelphia — Downtown Philadelphia will be the site for Walgreens' next Well Experience flagship store, according to an online report published Friday by CBS/Philly. The new Walgreens will be located at Broad and Chestnut Streets in Center City, filling the space of what was once a Borders bookstore.

The retail space extends 26,000 sq. ft. across three floors.

The CBS/Philly report suggested the new store will open its doors this fall, citing the real estate agent who brokered the deal.

Tarrytown, N.Y. -- DLC Management Corp., which owns Stone Mountain Square in Stone Mountain, Ga., said Friday that Big Lots has opened a 26,355-sq.-ft. store at the shopping center.

Big Lots co-anchors the center with Ross Dress for Less, T.J. Maxx, Marshalls, Dot’s and Anna’s Linens.
 

Montreal -- Aéropostale said Thursday that it is adding to its presence in Canada with the opening of its first store in Quebec, on June 15 at Place du Royaume in Ville de Saguenay.

The chain said that six more stores will open in 2012, including Place Laurier in Québec City, Fairview Pointe Claire in Point-Claire, Promenades St. Bruno in St. Bruno De Montarville, Galleria D'Anjou in Anjou, Mail Champlain in Brossard and Les Galeries de la Capitale in Québec City.

Richmond, Va. -- Chattanooga, Tenn.-based CBL & Associates Properties said Thursday that Dick’s Sporting Goods will open a new store at Southpark Mall in Richmond, Va.

The existing Dillard’s location will be redeveloped into the new 56,000-sq.-ft. Dick’s store as well as a selection of specialty stores and restaurants. Construction is scheduled to begin in October with a grand opening slated for summer 2013.

New Orleans -- Costco Wholesale Corp. will enter the state of Louisiana with a 148,000-sq.-ft. store at Carrollton Plaza Shopping Center in New Orleans.

The new lease, announced by center owner The Feil Organization, will add Costco to a lineup of retailers that includes CVS, Firestone, Family Dollar and Subway.

Costco is slated to open spring 2013.

Dallas -- 7-Eleven said Thursday it has completed its previously announced transaction with convenience store operator Strasburger Enterprises and has acquired 23 c-stores in Texas, mostly under the Quix banner.

Terms of the deal, which brings 7-Eleven’s Texas store count to 570, weren’t disclosed.

Merrimack, N.H. -- Indianapolis-based Simon Property Group said Thursday that it has opened Merrimack Premium Outlets, an upscale outlet shopping center serving the Greater Boston and Nashua markets.

Henderson, Nev. -- Frozen yogurt purveyor U-Swirl said Thursday that its area developer for the Houston market has signed a lease for its first of a 10-miminum store commitment to be opened over the next 48 months.

Houston is the fifteenth area in 13 states where U-Swirl is currently developing locations. It currently has 29 yogurt cafes open and operating.

 

Issaquah, Wash. -- Costco Wholesale Corp. said Thursday it has acquired partner Controladora Comercial Mexicana’s 50% share interest in Costco Mexico for approximately $760 million, funded by dividend proceeds, cash and investment balances.

The Costco México joint venture has been 50% owned by each of Costco Wholesale and CCM and operated by Costco Wholesale. :

Jaime Gonzalez Solana will continue as CEO of Costco México.