Real Estate

Chattanooga, Tenn. -- CBL & Associates Properties said Monday it will renovate and redevelop its Northgate Mall property in Chattanooga, Tenn., with the first phase adding Ross Dress for Less and Michael’s Arts & Crafts, as well as redeveloping the adjacent T.J. Maxx-anchored community center.

Construction will begin on the associated center in early 2013 with completion anticipated in fall 2013.

Boston -- Grossman Development Group (GDG), a boutique real estate development firm led by Howard Grossman, announced that it has begun site work for the 330,000-sq.-ft. Granite Ridge Marketplace, a 57-acre shopping center development located in Rochester, N.H.

The development, which boasts a trade area of 198,000 people, will feature a mix of anchor retail, junior anchor retail, small stores, restaurants and entertainment. It is located on Route 11, the gateway to the Lakes Region of New Hampshire and close to the Maine border.

New York -- Sears Hometown and Outlet Stores Inc. is set to begin trading on the Nasdaq Capital Market on Friday after Sears Holdings Corp. completed a spin-off transaction of the home appliances, hardware, tools and garden equipment retailer.

Sears Holdings received $446.5 million in proceeds in the transaction, including a $100 million dividend paid by Sears Hometown prior to the separation and about $347 million from a rights offering.

Dallas -- 7-Eleven Inc. announced  two acquisitions that will further expand its U.S. store portfolio.

The company has closed deals with EZ Energy USA Inc. to purchase 67 retail locations in the Cleveland and Pittsburgh markets, and with its licensee, Handee Marts Inc., to acquire 58 7-Eleven convenience stores in those same markets as well as locations in northern West Virginia and western Maryland.

New York -- Target Corp. opened a new retail concept, called C9 Active Apparel, in San Francisco, Women’s Wear Daily and other media outlets reported.

The 3,000-sq.-ft. store is devoted to the C9 by Champion activewear brand, which was launched by Target in 2004. It is located in Westfield’s Metreon center, which also houses a CityTarget store.

The new store has an industrial feel, with concrete flooring and exposed ceiling, according to the reports, with no Target identifying-logo or signage.

BENTONVILLE, Ark. — The pace at which Walmart adds new selling space globally will remain unchanged next year, but improved productivity, more U.S. stores and expanding multichannel capabilities are expected to produce sales and profit growth.

Philadelphia -- Fashion retailer Intermix has opened its 30th store at 1718 Walnut Street in Center City, Philadelphia, according to Metro Commercial, which negotiated the 3,386-sq.-ft. lease.

The retailer will occupy space on the ground floor of the Rittenhouse Claridge, a landmark building owned by Kaiserman Co. Metro Commercial searched for the ideal location for Intermix for over two years.