Real Estate

Paris -- A Tuesday report by the Wall Street Journal said that French retailer Carrefour SA has sold 97 supermarket sites to an investment company for $477 million.

Carrefour, the world’s second-largest retailer after Wal-Mart Stores, will continue to operate the sites through 12-year leases under its Carrefour Markets banner. The company said the sales and lease-backs will allow it to optimize the use of its capital, which will be reinvested into other real estate.

Philadelphia -- Forever 21 recently relocated and expanded to a two-story location in the newly developed wing at Willow Grove Park, located in eastern Montgomery County just north of Philadelphia. The mall is owned and operated by Pennsylvania Real Estate Investment Trust.

Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that fashion brand Bijoux Terner has opened a new store at Cherry Hill Mall, located in Cherry Hill, N.J.

The 767-sq.-ft. value-priced accessories store is an expansion of an in-store presence at Italian Treasures, located at PREIT’s Voorhees Town Center property, in Voorhees, N.J.
 

Lompoc, Calif. -- Brixmor Property Group announced a 24,050-sq.-ft. lease has been executed with Marshalls at Lompoc Shopping Center, located in Lompoc, Calif. 

Marshalls will join other national retailers including Vons, Michael’s, Pier 1, Petco and Staples. 

Brixmor, based in New York City, is the owner of Lompoc Shopping Center.

Walmart’s online business may have gained ground this holiday season, but Amazon.com doesn’t plan to cede its leadership position, and this week announced plans for two new distribution facilities.

New York City -- Chain Store Age columnist Jeff Green, in his latest piece “On the Upswing?”, observes that there are three broad categories of retail driving the current expansion buzz.

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I’m feeling pretty good about our industry after attending the ICSC New York Deal Making Conference earlier this month. In a marked change from recent years, the mood at the annual convention was noticeably upbeat. And, surprisingly — in a good way — there was an obvious buzz in the air about expansion plans. There are some intriguing new retail concepts in the pipeline and the recent influx of international brands making their brick-and-mortar entry into the U.S. market gives us what I think are genuine reasons for optimism in the New Year. 

RICHMOND, Va. — Amazon.com announced that it plans to open two fulfillment centers in Virginia, investing a total of $135 million. The company said it will invest $85 million and create more than 1,000 jobs in Chesterfield County, and invest $50 million in Dinwiddie County, creating more than 350 jobs.