Real Estate

Mooresville, N.C. -- Lowe’s will rebuild its store in Sanford, N.C., that was demolished by a tornado April 16, the company announced Thursday.

Lowe’s will tear down what is left of the remaining building, which has been condemned, and build a new facility on the site, said company spokeswoman Karen Cobb. The chain hopes to re-open the store this fall.

Norwalk, Conn. -- Emcor Group, a leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses, announced that its Emcor Services Mesa Energy Systems subsidiary has been awarded a contract to perform an energy retrofit project at the Westfield San Francisco Centre, a high-end shopping center in San Francisco.

Gadsden, Ala. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said Wednesday that Maurices will move to a new, larger location at Gadsden Mall, in Gadsden, Ala., in May.

The 5,000-sq. ft. expanded store will be positioned near Belk.

The expansion of Maurice’s follows on the heels of the recent opening of KOBE Japanese Steakhouse & Sushi Bar.

Cleveland -- Forest City Enterprises said Wednesday it has promoted Duane F. Bishop Jr., to the position of executive VP and COO of the company’s Commercial Group.

Bishop was previously executive VP – Asset Management. 

Forest City’s Commercial Group, the largest of three major strategic business units, includes the company’s retail, office and hotel properties.

Tarrytown, N.Y. -- DLC Management Corp. announced Wednesday that it has named Michael Mahan as leasing representative in the firm’s Atlanta office, where he will handle a portion of the company’s Southeastern portfolio of shopping centers.

Mahan brings with him several years of commercial real estate experience, most recently as a leasing manager for Lamar Cos.

New York City -- Women’s fashion apparel retailer Francesca's Holdings Corp. filed for up to an estimated $150 million to be raised in an initial public offering.

The company has about $41.4 million in proceeds from the offering earmarked toward repaying a senior secured credit facility, Dow Jones Newswires reported. Remaining funds may be used for opening new stores and growing its e-commerce business.

For the year ended Jan. 29, Francesca's same-store sales climbed 15% on top of a 9.8% increase a year earlier.

Rumors that Target would open in San Francisco’s Metreon center have now been confirmed: Terranomics announced it has brokered a signed lease for Target to open in the Wesfield-owned center.

The lease for 99,677 sq. ft. was only just officially signed, San Francisco Business Times reported. The Metreon will soon begin construction on a multi-million dollar remodel that will make room for Target, and will recreate the ground level as a food collection of Bay Area restaurant concepts.

New York City -- Gap has chosen Manhattan's Upper West Side for its second freestanding Athleta store, Crain’s New York Business reported.

The report said has signed a lease to open a 3,500-sq.-ft. Athleta at 216 Columbus Ave. at W. 70th Street. The store will open in the fall, and Gap is already seeking more New York area locations, according to Crain's.

Gap bought Petaluma-based Athleta, a catalog and website that sell women's athletic clothes, for $150 million in 2008.

NORTH BERGEN, N.J. — Vitamin Shoppe on Monday opened the doors to store No. 500 in St. Peters, Mo. — the company’s first store in that market and the third in the state.

I’m not much of a follower of astrology and the signs of the zodiac, but I do know that 2011 is the Year of the Rabbit on the Chinese calendar.

It seems somehow fortuitous that speed and agility define a year that is all about economic recovery. And retail is moving forward at a rate that, while not exactly hare-like, is at least faster than the proverbial tortoise.