Real Estate

RICHMOND, Va. — Amazon.com announced that it plans to open two fulfillment centers in Virginia, investing a total of $135 million. The company said it will invest $85 million and create more than 1,000 jobs in Chesterfield County, and invest $50 million in Dinwiddie County, creating more than 350 jobs.

RICHMOND, Va. — Amazon.com announced that it plans to open two fulfillment centers in Virginia, investing a total of $135 million. The company said it will invest $85 million and create more than 1,000 jobs in Chesterfield County, and invest $50 million in Dinwiddie County, creating more than 350 jobs.

“We look forward to opening two new Amazon facilities in the Richmond area next year, bringing tens of millions of dollars and hundreds of new jobs to the state,” said Dave Clark, VP Amazon North American Operations.
 

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.

New York City -- Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

The bankruptcy judge finalized terms of creditor repayments Tuesday after five remaining objections were resolved, the report said. Unsecured creditors with $812 million to $850 million in claims will recover from 4% to 10%, probably “at the higher end of the range,” according to court papers.
 

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.

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:

New York City -- Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.