Real Estate

Columbus, Ohio -- Multiple news sources reported late Monday that discounter Big Lots is exploring its options, including a potential sale. No reports have yet been confirmed by the retailer.

According to Bloomberg, which cited an unnamed source, Big Lots is exploring a possible sale of the company after receiving interest from buyout firms. Big Lots has a total enterprise value of $2.6 billion, according to Capital IQ.

New York City -- Barneys New York CEO Mark Lee said Monday that he has plans to launch a renovation program for existing stores as well as an overhaul to the retailer’s website.

According to a report by the Wall Street Journal, Lee said at a Monday morning breakfast that changes will be substantial, as the retailer has the largest renovation budget for existing stores that Barneys has seen in at least seven years.

Jacksonville, Fla. -- Shopping center owner and developer Regency Centers said Monday that it has broken ground on a $10 million renovation of its Heritage Plaza, a 226,998-sq.-ft. retail center in Irvine, Calif.

The renovation of the Ralph’s-anchored center is scheduled for completion in November 2011.

Springfield, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Le Gourmet Chef has opened at its Springfield Mall property, located in Springfield, Pa.

The 3,650-sq.-ft. store is located on the lower level next to Macy’s.

Springfield Mall, featuring Target, Macy’s and Carrabba’s Italian Grill, is jointly owned by PREIT and Kravco Simon Investments, an affiliate of Simon Property Group.

Costa Mesa, Calif. -- Donahue Schriber said Friday that executive VP Michele Babcock will resign the company, effective March 31.

During her 15-year tenure, Babcock led the leasing and remerchandising of 33 centers encompassing four million sq. ft. to record performance levels, according to the company.

Babcock said she is retiring from Donahue Schriber in order to travel, spend more time with her family and focus on charitable pursuits.

Orlando, Fla. -- The Wilder Cos. and CNL Commercial Real Estate said Friday that three new retailers and a new eatery will open at Rialto, located in Orlando, Fla.

Wilder, the developer and owner of RIALTO, said iStudio Salon, The Spectacle Shop, You Nails and Jimmy John's Gourmet Sandwiches will open this spring through early summer.

Rialto is a 350,000-sq.-ft. mixed-use project that is slated to include more than 75,000 sq. ft. of retail and restaurants, 50,000 sq. ft. of Class A office space and 200 luxury residential units.

Plymouth Meeting, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that KareFoot Spa & Bodywork has opened at the company’s Plymouth Meeting Mall, located in Plymouth Meeting, Pa.

The 2,827-sq.-ft. location is the retailer’s fifth in Greater Philadelphia.

Slowly but surely the headwinds Walmart has faced for years in its domestic expansion efforts have begun to diminish to the point where major victories are now being scored. Two examples stood out this week on opposite sides of the country. The highest profile of these is the situation in New York where it may not seem like Walmart won a victory this week, but it did. Walmart’s entry into the city has been the subject of considerable and heated debate for at least five years, but the situation has come to head in recent months.

Addison, Texas -- Coyote Management said Thursday it has named Jim Adkins senior leasing specialist for the company.

Adkins will operate out of the company’s Lakeshore Mall in Gainesville, Ga.
 

Plymouth Meeting, Pa. -- Fameco Real Estate, LP said it has been appointed by St. Joseph’s Regional Medical Center, in Paterson, N.J., as exclusive leasing agent for the new retail component to be constructed at the St. Joseph’s Regional Medical Center and Children’s Hospital campus.