Real Estate

Pittsburgh -- American Eagle Outfitters announced Wednesday that it has opened stores in three new international markets — Morocco, Jordan and Egypt.

The company said it also opened its third store in Saudi Arabia, and has plans for a second store in Lebanon in early 2012. The retailer currently operates in Egypt, Jordan, Kuwait, Lebanon, Morocco, Saudi Arabia, and the UAE through its franchise partner, M.H. Alshaya.

Colton, Calif. -- The Hodgdon Group, a full-service real estate brokerage, development and construction firm, announced that it has completed construction on the conversion of the former Levitz building at Northridge Fashion Center in Northridge, Calif., for the opening of an Ashley Furniture HomeStore.

Hodgdon-Miank Construction served as the full-service design-build contractor and completed the major renovation of the 34,000-sq.-ft. Ashley store. This is the 12th Ashley HomeStore to open, which has been completed by the Hodgdon Group.
 

New York City -- It’s true: Everything old is new again. New York City’s retail maven, Faith Hope Consolo, chairman of Prudential Douglas Elliman’s Retail Leasing, Marketing & Sales Division, has put together a list of her favorite store makeovers of the past year. As Consolo notes, even the most iconic stores must constantly present a new, fresh face to keep shoppers coming. Here are her faves:

New York City -- Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

The bankruptcy judge finalized terms of creditor repayments Tuesday after five remaining objections were resolved, the report said. Unsecured creditors with $812 million to $850 million in claims will recover from 4% to 10%, probably “at the higher end of the range,” according to court papers.
 

New York City -- Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.

Chicago --General Growth Properties said its board approved the spinoff of its Rouse Properties Inc. subsidiary, to consist of 30 regional shopping centers in 19 states.

The separation will be completed through a pro rata taxable dividend on Jan. 12, to stockholders of record as of the close of U.S. exchanges on Dec. 30, Chicago-based General Growth said today in a statement.

Bethesda, Md. -- Archiecture and design firm Streetsense said Monday it has created an all-new interior design scheme for La Madeleine French Country Cafe, a national chain of French-themed fast-casual restaurants.

A 1,194-sq.-ft. restaurant using the new prototype design is now open at Northpark Center in Dallas, while another is under construction in Tulsa, Okla. La Madeleine also has engaged Streetsense to design two new stores planned for the Washington, D.C. metropolitan region, one in Tysons Corner, Va., and one in Silver Spring, Md.

Greenville, S.C. -- Grocer Bi-Lo LLC said Monday that it has acquired southern supermarket chain Winn-Dixie, in a $560 million transaction that will take Winn-Dixie Stores Inc. private and create the largest grocery operator in the South.

The merger will combine Winn-Dixie’s 480 supermarkets in five southern states (Florida, Alabama, Louisiana, Georgia and Mississippi) with Bi-Lo’s 207 stores in the Carolinas, Georgia and Tennessee to create a company with 690 stores and 63,000 workers in eight states.