Real Estate

New York – Alsea, Latin America's biggest restaurant operator, will invest $110 million over the next three years in 220 new Starbucks cafes in Mexico and Argentina, Reuters reported.

Around $75 million of the investment would be put into some 170 new stores in Mexico, which is Starbucks' fastest-growing Latin American market, with the balance going to its number two regional market Argentina, according to the report.

Currently, Argentina and Brazil have about 50 Starbucks stores each.

Seattle -- Nordstrom plans to open a Nordstrom Rack on Long Island, N.Y., at Manhasset Center, which is owned and operated by Kimco Realty Corp.

The approximately 32,000-sq.-ft. store will be the retailer's third Nordstrom Rack location on Long Island and is scheduled to open in spring 2013.

The new two-level Nordstrom Rack will move into the former Filene's Basement location at Manhasset Center and will occupy space on both the ground and second level.

Dallas -- Corner Bakery Café has announced expansion plans for Portland, Ore., Minneapolis-St. Paul and Orlando, Fla.

The targeted expansion calls for 18 new locations in Minneapolis-St. Paul, 18 in Orlando and 11 in Portland. Corner Bakery Cafe is currently evaluating potential franchisees for each market.

Chicago -- Claire's Stores announced the opening of the first Claire's store in El Salvador. The store is located in the Metro Center Mall in the city of San Salvador.

Claire's partnered with Coquerias S. A. for the new store. Coquerias S.A. is also Claire's franchise partner in the Guatemala market.  

With the opening in El Salvador, the Claire's brand now reaches 34 countries globally.  

New York -- Maefield Development, Infinity Urban Century, The Witkoff Group and New Valley, an investment unit of Vector Group LTD announced that they have completed the $430 million acquisition of their Times Square Gateway Center development site. The purchase clears the way for construction of a 340,000-sq.-ft., 36-story, multi-use development that will anchor the northern end of Times Square, with a new retail experience, a hotel tower, and the nation's largest single LED screen.

Minneapolis -- Target announced plans to open a store in Staten Island, N.Y., in July 2013. The 150,000-sq.-ft. store will be located at the Richmond Shopping Center.

In addition, Target said it will open its second CityTarget store in the city of San Francisco, in October 2013. The new, 119,000-sq.-ft. CityTarget will be located at the southwest corner of Geary and Masonic Streets. On Oct. 10, the retailer opened the doors to the city’s first-ever Target store, also a CityTarget, at the Metreon.

Cincinnati — With a focus on increasing square footage and building its presence in both new and existing markets, Kroger is poised for growth in 2013.

NEW YORK — Fashion designer Michael Kors has donated $5 million to God's Love We Deliver (God's Love), the New York-based non-profit organization that cooks and delivers individually tailored meals daily to people living with severe illnesses throughout New York City, Newark and Hudson County. This gift serves as one of the largest single donations to a social services organization in New York history.