Real Estate

By Howard Paster, [email protected]

Johannesburg -- Massmart Holdings Ltd., the South African retailer controlled by Wal-Mart Stores, announced Thursday it will up its store counts in fiscal 2012 by 8.6% to 340 stores. The company will open 27 new stores during the period, mostly in South Africa and two in Nigeria.CEO Grant Pattison said the accelerated pace is to keep the company in front of its competitors.

Also on Thursday, Massmart reported an 11.6% rise in total sales for the year ended June 26 to $7.29 billion, and upped its forecast for the remainder of 2011.

Oxnard, Calif. -- Centro Properties Group US announced that Dick’s Sporting Goods will open a new 44,166-sq.-ft. store at Esplanade Shopping Center, located in Oxnard, Calif.

Esplanade Shopping Center is owned by Centro Properties, based in New York City.

 

When Washington, D.C.-based Madison Marquette took over the leasing and management duties for Granite Run Mall, located in Media, Pa., near Philadelphia, it launched an innovative program for soliciting shopper feedback.

New York City -- Sports Authority will open its first S. A. Elite stores outside of Colorado and California in two locations in the Chicago suburbs in November, according to Crain’s Chicago. As additional Elite store will open in Chicago’s Water Tower center next spring.

The stores will range from 11,000 sq. ft. to 15,000 sq. ft., and feature an edited collection of merchandise that emphasizes tennis, golf and yoga.

Chattanooga, Tenn. -- Chattanooga, Tenn.-based CBL & Associates Properties,  announced a 6,000-sq.-ft. expansion to The Shoppes at Hamilton Place, a 125,000-sq.-ft. associated center in Chattanooga with existing anchors Ross dress for Less, Marshalls, and Bed, Bath & Beyond.

The expansion will locate in the undeveloped parcel in front of the center and will bring new retailers and restaurants to the area including Sweet Peppers Deli, Menchie’s Frozen Yogurt, and Bath Junkie.   

Charlotte, N.C. -- X Team International, an international alliance of retail real estate advisors, said that Charlotte, N.C.-based partner The Chambers Group has completed a lease for the first small-format Burlington Coat Factory store in Charlotte.

Scheduled to open Oct. 1 at Woodlawn Marketplace, the smaller format store will be roughly 48,000 sq. ft. and joins T.J. Maxx and Family Dollar.
 

Grand Rapids, Mich. -- Meijer on Thursday will unveil its newest concept, Meijer Marketplace, opening a store in Melrose Park, Ill.

At 90,000 sq. ft., the new store will be nearly half the size of Meijer's largest supercenters. The smaller-format store, described as a "mini" supercenter concept, will focus on providing local customers with a tailored grocery shopping experience with fresh quality meats and produce, as well as a wide variety of deli, bakery and pantry items.