Real Estate

The opening of the first CityTarget in Chicago was a big deal this summer, but next fall an even bigger development is coming to an area just a few miles further north.

Covington, La. -- Stirling Properties announced that Sam’s Club has opened at its River Chase shopping center, the largest open-air retail center in St. Tammany Parish.

The 136,000-sq.-ft. Sam’s Club features a fuel station and pharmacy, and joins anchors Target, Belk and J.C. Penney at the master-planned, mixed-use development.

Greensboro, N.C. -- RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers announced Tuesday they will acquire two outlet centers in the Montreal area.

The pair will co-purchase Les Factoreries St. Sauveur and Bromont Outlet Mall for about $94.7 million Canadian dollars.

RioCan will provide development and property management services and Tanger will provide leasing and marketing services.  The properties will be rebranded as Tanger Outlets.

Both transactions are slated to close in November 2012.

Chicago -- Claire's Stores Inc. said Tuesday that it has opened its first stores in Venezuela and Panama; the Venezuelan store opened on Oct. 12 in Sambil Paraguna Mall in Punto Fijo and the Panama store opened Oct. 27 at Metro Mall.

Claire's has partnered with locally headquartered Grupo David Enterprises as the single franchisee across 16 countries in Latin America. Over time, Claire's said it expects these countries to present a minimum 100 stores market opportunity.

 

Commerce, Mich. -- Health and wellness retailer LaVida Massage said Tuesday it will have opened at least 13 new franchised units before the end of 2012. Another eight are slated to open in early 2013.

LaVida currently operates 45 centers nationwide. 

Our rapid expansion continues to yield strong results for LaVida, despite a struggling economy,” said Evan Kaltschmidt, COO.

The new centers are located in California, Georgia, Illinois (2), Michigan (3), New Jersey, New York, Ohio, Pennsylvania, Texas and Virginia.

Toronto -- Canadian luxury fashion retailer Holt Renfrew & Co. said Monday it will launch a new discount chain called hr2, with a first store in March in Quebec, followed by planned locations across the country by 2015.

It said the stores will range in size from 25,000 sq. ft. to 35,000 sq. ft., smaller than Holt Renfrew’s nine department stores, and targeting women age 25 and up.

Value fashion retailer Primark’s new flagship on Oxford St. (at Tottenham Court Rd.) spans some 82,300 sq. ft. over four floors. Designed by Dalziel & Pow, London, the store has a bold, modern look,  complete with a faux tube station, a massive LED screen and colorful graphics. Digital integration is a key element, with specially commissioned brand films playing on the exterior wall of the elevator lifts. An animated store map is featured on the elevator walls and throughout the store to help with customer navigation.