Real Estate

Seattle - REI  (Recreational Equipment, Inc.) will to open a new store in Olympia, Wash. in the spring of 2011. 

The two-story, 25,000 square-foot store will be located off Cooper Point Road at Westfield Capital Shopping Mall. 

“REI looks forward to extending our roots further south in Puget Sound with the new store in Olympia,” said Kevin Golic, REI’s retail director for the Washington Alaska district. 

New York - Dollar General is considering a plan to build a $60 million distribution center in Bessemer that could create up to 650 jobs, the Birmingham Business Journal reported. 

The new facility would be the 10th distribution center for Dollar General (NYSE: DG), according to Tawn Earnest, senior director of corporate communications for the company. The company is seeking incentives from local governments for the project.

Fayetteville, Ark. - A report Monday said that Wal-Mart Stores is preparing to test a small-format store it is calling “Walmart on Campus” at the University of Arkansas in Fayetteville.

According to the report by Advertising Age, the pilot appears to be part of a series of tests of Walmart’s smaller-format stores.

Walmart removed all doubt about how it intends to enter Russia this week when it announced the closure of its office in Moscow. The office was opened two years ago to investigate opportunities in the country, but international division president and CEO Doug McMillon said it no longer made business sense to maintain the facility.

CONSHOHOCKEN, Pa.  - Ikea announced that it plans to install solar energy panels on two East Coast stores: Paramus, N.J. and Stoughton, Mass. Pending governmental permits, rooftop installation will begin in the new year, with completion expected in spring 2011. The plans bring the number of U.S. Ikea locations that will have a solar energy system to a total of 13. According to the company, these two systems will represent the largest store-top solar installations for Ikea in the United States.

Atlanta -- Jacksonville, Fla.-based Regency Centers said Tuesday it has leased more than 23,500 sq. ft. of retail and restaurant space for seven new merchant locations in the Atlanta metro market.

According to Andre Koleszar, Regency Centers’ VP and regional officer, Atlanta-area retail business is getting stronger. “We’ve seen leasing activity recovering and retailers are attracted to shopping centers in prime locations with a merchandising mix that attracts upscale customers, ” he said.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Tuesday that locally owned Italian restaurateur Pizzicato Ristorante has opened at Moorestown Mall, in Moorestown, N.J.

The 3,059-sq.-ft. restaurant, a BYO establishment, is located next to Pei Wei.

The 1.1-million-sq.-ft. Moorestown Mall is owned and managed by PREIT, and anchored by Macy’s, Lord & Taylor, Sears and Boscov’s.

Baltimore -- Jacksonville, Fla.-based Regency Centers on Tuesday announced the completion of an interior and exterior store remodel of Shoppers Food & Pharmacy at Southside Marketplace, located in Baltimore. 

The newly renovated anchor includes an upgraded shopping experience with updated finishes, lighting and store fixtures inside and out.

Making your NRF Show plans? Don’t forget to allow yourself time to check out the Big Apple’s exciting retail scene. Here’ s a quick hit list of the city’s newest retail stars:

Plano, Texas -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Plano, Texas, at Preston Park Village to Toni & Guy.

The hair, skin and nail salon will open a 1,690-sq.-ft. location in January 2011.

The 239,333-sq.-ft. shopping center is anchored by a 53,118-sq.-ft. Tom Thumb alongside national retailers Panera Bread, Williams Sonoma, Ann Taylor and The UPS Store.