Real Estate

Teen apparel retailer rue21 is celebrating the opening of its 700th store, in New Braunfels, Texas. The chain is on track to open 110 locations this year. Commented president and CEO Bob Fisch: “We remain one of the fastest growing retailers in the nation. I would like to thank our real estate, construction and field teams and recognize their hard work, which allows us to celebrate another significant milestone for rue21."
 

Deerfield, Ill. -- Walgreens is expanding its presence in Chicago, and adding 600 new jobs in the process. Under its new "Chicago Hometown Investment Initiative," the drugstore chain plan to expand its downtown office space, add new stores and remodel up to 142 existing units.

Orlando, Fla. -- Boston-based The Wilder Cos. said that Bealls will open a new department store at Loop West, located in the southern portion of the Orlando, Fla., market.

Loop West, along with adjacent center The Loop, make up an 840,000-sq.-ft. shopping complex housing 14 specialty anchors and 55 shops, services and eateries. Anchors include Kohl’s, J.C. Penney, TJ Maxx, Bed Bath & Beyond, DSW Shoes, Regal Cinema and more.

New York City -- Centro Properties Group announced the recent lease execution for two Ulta stores; an 11,000-sq.-ft. store will be joining Lakes Crossing, located in Muskegon, Mich., and a 10,895-sq.-ft. store will open at Florence Square, directly across from Florence Mall in Florence, Ky.

New York City-based Centro Properties Group owns both shopping centers.
 

Warrendale, Pa. -- Rue21 said Thursday it has opened its 700th store, located in New Braunfels, Texas.

The store is Rue21's 80th in the state. Year-to-date, the retailer has opened 63 stores and said it is on target to open 110 new stores and convert 35 existing stores to its larger etc! format in fiscal 2011.

Long-term growth strategy includes opening in strip centers, regional malls and outlet centers, and the New Braunfels location is Rue21's 360th strip center location.

Minneapolis -- Christopher & Banks Corp. reported Thursday that net income for the quarter ended May 28 was $1.9 million, compared with $6.3 million in the year-ago period.

Sales dropped to $123.8 million, from $126.2 million a year earlier. Same-store sales dipped 2%.

The retailer said it plans to open 31 new stores and close 35 existing stores in fiscal 2012.
 

Plymouth Meeting, Pa. -- Fameco Real Estate, L.P. announced that Visionworks, a division of Eye Care Centers of America, has signed four new leases in the Central Pennsylvania region as part of its store roll-out campaign.

Each of the new stores is slated to open in late summer 2011. The stores will be located at The Viewmont Mall in Dickson City, Silver Spring Shopping Center in West Harrisburg, Mill Creek Shopping Center in Lancaster and Delco Plaza in York.
 

SAN FRANCISCO — Gap Inc. announced that it plans to open its first Gap store in Egypt this July and its first Gap and Banana Republic stores in Morocco this October. These store openings will mark the company’s first entry into Africa.

As part of an existing franchise agreement with The Fawaz Al Hokair Group, Gap will open its first Egyptian store in the Mall of Arabia in the capital city of Cairo. Two additional Gap stores will open at Cairo’s City Stars Mall and Sun City Mall this October.