Real Estate

Wayne, N.J. -- Toys “R” Us on Tuesday said that by the end of 2012 it will have opened eight new stores and remodeled 13 existing locations to the side-by-side Toys “R” Us/Babies “R” Us model.

The retailer said the 21 stores across 13 states are representative of its strategy to bring both concepts together in an integrated store format.

El Paso, Texas -- Best Buy Co. has signed a lease to open a 37,740-sq.-ft. store at The Fountains at Farah, a new power-lifestyle shopping center located in El Paso, Texas.

The shopping center, a Centergy Retail project, is under construction and planned to open in 600,000 sq. ft. in fall 2013.
 

Mooresville, N.C. -- Lowe’s Cos. on Tuesday confirmed a July 8 proposal to acquire Canadian home-improvement and hardware retailer Rona, but said the Quebec-based chain rejected the $1.9 billion offer.

According to the 800-store Rona, the sale to Lowe’s would not be in its best interests.

"Rona's strategic focus remains to execute on its business plan with a view to capturing the significant opportunities that it sees for the business," Rona said in a statement.

Denver -- National Grocers by Vitamin Cottage said Tuesday that its first Arizona store – in Flagstaff – has opened, and will be joined by two additional stores located in Sedona and Prescott.

The privately owned regional grocery chain, which operates 56 stores in 12 states, incorporated environmentally friendly elements into the Flagstaff store. Energy-efficient features include motion light sensors, 100% post-consumer content tiles, polished concrete flooring and commercial-grade LED lights.  And the chain is 100% shopping bag free.

WAYNE, N.J. — Toys"R"Us continues on its path to bring its Toys"R"Us and Babies"R"Us stores under one roof as part of its integrated store strategy. The company announced that by the end of the year it will have opened eight new stores and transformed 13 existing locations to the side-by-side model in 2012. In adding eight new stores and renovating 13 existing locations, the company will create more than 400 new jobs across the country.

San Diego -- Walmart has completed its 100th solar installation in California, at a store on College Avenue in San Diego. After launching its solar pilot program in May 2007, Walmart strengthened its commitment to renewable energy in the state of California last year when it announced plans to expand its solar portfolio to more than 75% of its stores in California, approximately 130 stores, by the end of 2013. There are now 100 Walmart stores and Sam's Clubs in California using traditional and thin film solar installations.

Bloomfield Hills, Mich.-based Taubman Centers, Inc. has officially broken ground on its new Taubman Prestige Outlets Chesterfield project by hosting a groundbreaking ceremony on July 27.

As part of the ceremony, Taubman revealed a variety of store names that will make their debuts at the new outlet mall, among them Banana Republic Factory Store, Gap Outlet, J. Crew Factory, Brooks Brothers Factory Store, 2b Bebe, American Eagle Outfitters - Off Campus, and Sunglass Hut.

Roswell, Ga. -- PGA Tour Superstore announced plans to open a location in Paramus, N.J. The store, scheduled to open later this year, is PGA Tour’s 15th location.

The PGA superstores are owned and operated by Golf & Tennis Pro Shop, whose controlling owner and chairman is Arthur M. Blank, retired Home Depot co-founder and owner of the Atlanta Falcons.