Real Estate

Grand Rapids, Mich. -- Grocery retailer Meijer announced it will open a 14th Chicago-area store, this one under its Meijer Marketplace banner designed to bring a smaller-size localized concept to the Melrose Park neighborhood.

Meijer Marketplace spans 96,000 sq. ft. – about half the size of the grocer’s supercenters – and features a tailored offering as well as a variety of general merchandise items.

New York City -- Women’s apparel retailer Cache reported Thursday that net income for the quarter ended July 2 rose to $2.8 million, compared with $897,000 in the year-ago period.

Net sales increased 6.5% to $60.3 million and same-store sales increased 6%.

For fiscal 2011, the retailer said it has no new store openings planned, but will close two stores.
 

St. Louis -- Build-A-Bear Workshop reported Thursday that it narrowed its loss in the quarter ended July 2 to $6.7 million, compared with a loss of $8.5 million in the year-ago period.

The retailer increased total revenue 10% to $81.8 million, and consolidated same-store sales 7.1%.

The retailer cited improved efficiencies and reduced expenses for the performance improvements.

San Mateo, Calif. -- Hillsdale Shopping Center, located in San Mateo, Calif., is currently undergoing an extensive 80,000-sq.-ft. renovation to an area previously occupied by Mervyn’s.

The transformation will feature San Mateo County’s first Cheesecake Factory, a two-story Forever 21, and H&M as anchors of the center’s south end.

Youngstown, Ohio -- Shopping center owner Cafaro Co. said Wednesday that Books-A-Million will fill vacant and soon-to-be vacant spaces in a lineup of its malls around the country.

Beginning in August, new Books-A-Million stores will open at Spotsylvania Towne Centre, Fredericksburg, Va.; Millcreek Mall, Erie, Pa.; and Meadowbrook Mall, Bridgeport, W.V.

New Lenox, Ill. -- Urban Retail Properties, LLC, Center Creek Development, LLC and Mansur & Co. announced Wednesday a joint venture to build, lease and manage Spring Creek Outlets of Chicago, located in New Lenox, Ill.

Oak Brook, Ill. -- Inland Western Retail Real Estate Trust Inc. said Wednesday that Inland Western MDS Portfolio LLC, one of its wholly owned subsidiaries, has signed three leases with Hobby Lobby to occupy 227,450 sq. ft. of former Mervyn’s locations in California.

The three new stores, firsts to their respective markets, include a 76,211-sq.-ft. location in Temecula, a 76,248-sq.-ft. location in Roseville and a 74,991-sq.-ft. location in Rancho Cucamonga.

The stores are projected to open this fall.

Brussels, Belgium -- Belgian supermarket retailer Delhaize Group said Wednesday that it has completed the previously announced acquisition of Serbian retailer Delta Maxi.

Combined with its existing operations in Greece and Romania, Delhaize is now, with this transaction, considered a leading retail force in Southeastern Europe.