Real Estate

Nashville, Tenn. -- GBT Realty Corp. said Wednesday it has closed on the purchase of approximately 20 acres along Pooler Parkway in Pooler, Ga., for the development of the Village on Pooler Parkway. The development will consist of more than 143,000 sq. ft. when completed in the first quarter of 2014.
 

Houston — Sprouts Farmers Market, an independent natural foods grocery store chain, opened its first Houston-area store today.

The 25,300-sq.-ft. store opened at the southwest corner of Cinco Ranch Boulevard and Peek Road in Katy, Texas. The store will sell farm-fresh produce and thousands of natural, organic and mainstream food items at an affordable price point.

Chicago -- Lemont, Ill.-based Englewood Construction said Wednesday that its restaurant group has begun work on four new projects, including a food court in New Jersey’s largest outlet mall, a steakhouse in a downtown Chicago luxury hotel and two suburban Chicago mall restaurants.

“As we head out of the recession, we’re seeing more importance placed on dining and entertainment, and the focus is on redevelopment,” said William Di Santo, president, Englewood Construction.

New York -- Five Below reported Wednesday that net income for the quarter ended Feb. 2 rose to $19.2 million, compared with $12.4 million in the year-ago period.

Revenue surged 38% to $173.6 million from $125.8 million in the fourth quarter of fiscal 2011. Same-store sales rose 4.4%.

For the full year, profit rose to $20 million from $16.1 million and revenue increased 41% to $418.8 million. The company said it expects to open 60 stores this year, including new markets in Texas, as well as adding units in existing markets.

Atlanta -- Global Franchise Group said Wednesday it is expanding its Puerto Rican presence via a multi-unit operator.

A.M.A. Pretzels International opened two Great American Cookies stores in Puerto Rico -- in Plaza Carolina in Carolina, and Plaza Rio Hondo in Bayamon.

"Global Franchise Group is thrilled to have such outstanding multi-unit franchisees expand the Great American Cookies brand in Puerto Rico," said Global Franchise Group chief development officer John Barber.

New York -- Five Below reported Wednesday that net income for the quarter ended Feb. 2 rose to $19.2 million, compared with $12.4 million in the year-ago period.

Revenue surged 38% to $173.6 million from $125.8 million in the fourth quarter of fiscal 2011. Same-store sales rose 4.4%.

For the full year, profit rose to $20 million from $16.1 million and revenue increased 41% to $418.8 million. The company said it expects to open 60 stores this year, including new markets in Texas, as well as adding units in existing markets.
 

New York -- Kleinfeld Bridal, the iconic New York bridal retailer and star of the hit reality show “Say Yes to the Dress,” will open a 20,000-sq.-ft. salon in Hudson’s Bay’s flagship location in downtown Toronto in early 2014. The Hudson’s Bay Company has exclusive rights to the brand in Canada.

New York -- Wegmans is looking to open its first location in Boston, according to a report on Boston.com.

The company reportedly is seeking to open at the Landmark Center, an office and retail complex that is being redeveloped. Wegmans anticipates that an agreement for the site will be reached “in the near future,” the report said.