Real Estate

New York City -- Ikea announced that its 415,000-sq.-ft. store in Centennial, Col., will open on July 27.

“The excellent construction progress made this past fall and winter by Saunders Construction and the subcontractors -- as well as professional and timely reviews by local authorities -- created an opportunity for us to open much earlier than originally envisioned,” said Ikea project construction manager Doug Wolfe.

New York City -- Westwood Town Center, a shopping center located in West Seattle, has sold for $78.1 million.

The buyer was MEPT Westwood Village LLC. The seller was Wesbild Holdings of Vancouver, B.C.

Newmark Realty Capital of Seattle arranged $39 million of the financing of the center.
 

Cincinnati -- Macy’s on Monday said it will open three Bloomingdale’s Outlet stores in the fall. The new locations will join the first four Bloomingdale’s Outlet stores opened in fall 2010 when the concept was launched.

The new Bloomingdale’s Outlet stores, which will range from 25,000 sq. ft. to 24,000 sq. ft. are scheduled to open in the following shopping centers with an upscale outlet store focus: Miromar Outlets, Estero, Fla.; Wrentham Village Premium Outlets, Wrentham, Mass.; and Woodfield Village Green, Schaumburg, Ill.

Frisco, Texas -- Jacksonville, Fla.-based Regency Centers said it has leased restaurant space to Tutti Frutti Yogurt, which will open a 1,412-sq.-ft. store at Legacy Center, in Frisco, Texas.

The specialty frozen yogurt retailer is slated to open its new store in July.
The 119,500-sq.-ft. shopping center includes national retailers such as Starbucks, Subway, Great Clips and The UPS Store.

New York City -- Borders Group won approval of an amended executive bonus plan after a judge sought changes to resolve objections from an arm of the U.S. government that oversees bankruptcies, Bloomberg reported.

Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan said the amended bonus packages, which tie the $6.6 million in payments closer to the financial performance of Borders, were needed so Borders could "maintain its experienced work force."

Mooresville, N.C. -- Lowe’s will rebuild its store in Sanford, N.C., that was demolished by a tornado April 16, the company announced Thursday.

Lowe’s will tear down what is left of the remaining building, which has been condemned, and build a new facility on the site, said company spokeswoman Karen Cobb. The chain hopes to re-open the store this fall.

Norwalk, Conn. -- Emcor Group, a leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses, announced that its Emcor Services Mesa Energy Systems subsidiary has been awarded a contract to perform an energy retrofit project at the Westfield San Francisco Centre, a high-end shopping center in San Francisco.

Gadsden, Ala. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said Wednesday that Maurices will move to a new, larger location at Gadsden Mall, in Gadsden, Ala., in May.

The 5,000-sq. ft. expanded store will be positioned near Belk.

The expansion of Maurice’s follows on the heels of the recent opening of KOBE Japanese Steakhouse & Sushi Bar.