Real Estate

Tarrytown, N.Y. -- DLC Management Corp. announced that it has named Jonathan Wigser as chief investment officer, charged with leading all of the company’s acquisition and disposition activities.

Since joining DLC in 2002, Wigser has been involved in the acquisition and disposition of more than $1.1 billion of retail real estate, in addition to raising more than $250 million of equity from institutional and high net worth investors.

Seattle -- Nordstrom reported Thursday that net earnings for the quarter ended Jan. 28 rose 1.7% to $236 million, compared with $232 million in the year-ago period.

Sales rose 12.5 % to $3.17 billion, and same-store sales increased 7.1%. Nordstrom Rack sales rose 17.7% in the quarter, to $85 million.

For the full year, total net sales were $10.5 billion, representing the highest in the company’s history. Net earnings were up 11.4% to $683 million, compared with $613 million a year earlier.

Chicago -- A Tuesday report by the Chicago Tribune said that Urban Outfitters has opened its second BHLDN store, the apparel retailer’s fledgling bridal concept that first debuted in Houston last summer.

Toronto -- Target Canada Co. and Starbucks Coffee Canada announced Wednesday an agreement that will put Starbucks licensed stores inside most of the 125 to 135 stores that Target plans to open in the region.

"Our goal is to bring the true Target brand shopping experience to our Canadian guests, so expanding our relationship with Starbucks as we enter the Canadian marketplace is a natural fit," said John Morioka, senior VP merchandising, Target Canada. There are currently 1,097 Starbucks locations within Target stores in the United States.

Wilmington, Mass. -- Trinity Building + Construction Management Corp. announced Tuesday that it has formed a new Canadian entity called Trinity Builders + General Contractors, ULC. The new company’s first project is a retail build-out for J. Crew, in Vancouver, British Columbia.

“Canada’s economy is largely driven by energy and natural resources and therefore has not had the tremendous downturn that we have recently experienced in the U.S,” said Paul Mancini, one of Trinity’s founders and VP business development.

Los Angeles -- Boingo Wireless has announced agreements with mall owners Westfield and Cafaro to manage and operate retail Wi-Fi networks in several of each developer’s shopping centers.

With this agreement, Boingo now manages Wi-Fi networks in 33 malls across the country.
 

Chicago -- General Growth Properties and Italian restaurant chain Buca di Beppo announced Tuesday the scheduled opening of 10 Buca di Beppo restaurants set to open at various properties within the GGP mall portfolio during late summer 2012.

The multi-restaurant deal marks a significant expansion of the Buca di Beppo restaurant group. New mall locations include Governor’s Square Mall in Tallahassee, Fla., August (Ga.) Mall, Oakwood Center in New Orleans and Town East Mall in Dallas.

New York City -- Saks Inc. will expand its distribution and fulfillment capacity, adding a new facility in Tennessee in 2012.

The new center will occupy approximately 564,000 sq. ft. of leased space and will be located in LaVergne, Tenn. It will be equipped with a sophisticated mobile-robotic fulfillment system that has been successfully deployed in Saks’ Maryland facility.

Saks expects the Tennessee facility to be operational by August 2012.