Real Estate

Bentonville, Ark. -- Karen Roberts was named executive VP and president of Walmart Realty on Friday, filling a position vacated by the company’s long time real estate executive Eric Zorn who retired after a 20-year career.

Roberts most recently served as senior VP and chief compliance officer. She will report to Tom Mars,  executive VP and chief administrative officer, whose responsibilities were expanded to include oversight of real estate in the wake of Zorn’s retirement.

SUNBURY, Pa. — Northeast food retailer Weis Markets reported second-quarter sales of $676.7 million, an increase of 3.5% from sales of $653.7 million for the same period last year. Comparable-store sales were up 5.1% for the quarter. 

According to the company, the sales growth was due to openings in three key markets, successful sales building programs, operational improvements at store level and improved administrative expense management.

Addison, Texas — Coyote Management, L.P. and Garrison Investment Group announced that Lakeshore Mall, in Gainesville, Ga., is undergoing a renovation that includes extensive landscaping upgrades, new branding campaign, banners, directional signage, reopened customer service, gift card program and children’s strollers.

This week, said the companies, the property will begin construction on a new 11’ x 26’ monument sign and over $25,000 in landscaping. The project is scheduled to be complete by the end of July.

Boca Raton, Fla. — Indianapolis-based Simon Property Group announced Monday that lululemon athletica will grand-open a new store at Town Center at Boca Raton on July 22.

Nine of the 21 new store openings Target has planned for this year are scheduled to open on July 24. Among the openings is a new unit in Hilo, Hawaii, the company’s fourth store in Hawaii, two units in San Luis Obispo and Oxnard, Calif. and two units in the Pennsylvania cities of Hanover and Pittsburgh. The Phoenix suburb of Chandler gets a new Target as do Moore, Okla., Kenner, La. And Swansea, Mass.

The openings planned for October are said to included units in San Clemente and Dublin, Ca., Gastonia and Morrisville, N.C., Blue Ash, Ohio and Warwick Township, Pa.

Aguora Hills, Calif. -- Jacksonville, Fla.-based Regency Centers said it has leased space in Aguora Hills, Calif. to GNC, which will open a new store at Twin Oaks Shopping Center.

GNC has leased 1,050 sq. ft., bringing the center to 97% leased.  The tenant is slated to open for business in fall 2011.  

Aguora Hills, a 98,399-sq.-ft. shopping center, is anchored by Ralphs, alongside RadioShack, Rite Aid, Wells Fargo Bank and Starbucks. 

Los Angeles — Westwood Financial Corp. said Monday it has purchased McCrimmon Corners shopping center, located in Morrisville, N.C.

The 86,267-sq.-ft. grocery-anchored center, sold to Westwood by Crosland, currently is 99% leased. Anchor tenant Harris Teeter is joined by Tossed Salads, Taekwondo Academy, Nikos Taverna, Saffron Indian Food Restaurant, Two Guys Grille, Subway, AT&T, Great Clips, State Farm and Red Dragon.

Newport Beach, Calif. — Lucescu Realty said it has opened a new regional office in Phoenix, its second office outside its California headquarters. The company recently opened a Las Vegas office and plans to open a San Francisco presence by year-end 2011.

In other company news, Lucescu Realty said it completed the sale of The Promenade in Scottsdale, for $110 million.  Lucescu Realty represented the seller, a local private investor, and procured the buyer, Excel Trust of San Diego.