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Real Estate

  • Federal Realty Celebrates a Half-Century in Retail

    As one of the oldest REITs in existence today, Federal Realty Investment Trust has every right to send up some fireworks over reaching the 50-year mark this year.

    The Rockville, Md.-based real estate company was established in 1962 with three properties in the metropolitan Washington, D.C., area, including Congressional Plaza (shown here, both then and now). Today, Federal Realty’s portfolio comprises about 19.3 million sq. ft. primarily in its core base of the northeastern and Mid-Atlantic U.S., as well as in California.

  • Collective Brands to be acquired for $1.3 billion, broken up

    New York -- Shoe manufacturer Wolverine Worldwide Inc. announced Tuesday that it has partnered with equity firms Blum Capital Partners and Golden Gate Capital to acquire Payless ShoeSource parent Collective Brands Inc. for about $1.3 billion.

  • Westwood buys retail center in Macon, Ga.

    Macon, Ga. -- Westwood Financial Corp., one of the nation’s largest owner-operators of shopping centers, has purchased Wesleyan Station, an 86,631-sq-.ft, retail center in Macon, Ga., for $8.9 million from a private seller.

  • Dick’s Sporting Goods to open 487th store

    Pittsburgh -- Dick's Sporting Goods will open a store in Union, N.J., on May 2.

    The Union location will be the retailer's 16th store in the state of New Jersey and its 487th nationwide.
     

  • Westwood sells Pacific Plaza Shopping Center

    Ontario, Calif. -- Westwood Financial Corp. has sold Pacific Plaza Shopping Center located at in Ontario, Calif., for $7.4 million.

    “This transaction is the latest in our firm’s overall plan to rebalance our portfolio, as the funds generated here will be reinvested in grocery-anchored properties in the Southeast,” said Westwood financial executive VP Joe Dykstra.

  • Weiss Markets ups capital expenditures

    Sunbury, Pa. -- Weis Markets said it will invest $125 million in its 2012 growth program, a 25% increase compared with 2011.

    “Our budget includes two new stores and 18 major remodels,” Weis Markets vice chairman Jonathan Weis said. “In addition, we expect to soon complete the purchase of three Genuardi's units near Philadelphia which we hope to reopen later this summer.”

  • Walmart expands conservation program

    Bentonville, Ark. -- Walmart announced that its Acres for America program is conserving an additional 300 acres of land to protect and restore wildlife habitats in the heart of U.S. cities, including Bridgeport, Chicago, Portland, San Diego, and Washington, D.C.

  • Kolletti Bambini opens at Malibu Country Mart

    Malibu, Calif. -- Southern California lifestyle center Malibu Country Mart welcomed Kolletti Bambini, a boutique specializing in designer clothing and accessories for children and infants.

    The 630-sq.-ft. boutique opened on April 20.
     
    Malibu County Mart features 90,000 sq. ft. of high-end retail, dining and services housed in an eclectic mix of architectural styles including Mediterranean, modern and rustic influences. 
     

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