Real Estate

NEW YORK — Wal-Mart Stores said that by the end of the year it will have invested the equivalent of approximately $756 million to expand its operations in Brazil.

Marcos Samaha, president of Wal-Mart's Brazilian subsidiary, said in a Tuesday statement that 1.2 billion reals ($755 million) will be used to build 80 stores, renovate existing locations and improve logistics.

Wilkes-Barre, Pa. -- Metro Commercial announced that it has inked a new lease for Banana Republic Outlet at Arena Hub Plaza, located in Wilkes-Barre, Pa.

The new, 7,380-sq.-ft. store is slated to open in fall 2011. Other tenants in the 524,000-sq.-ft. power center include Lowe’s, Best Buy and PetSmart.

City of Commerce, Calif. -- Los Angeles outlet shopping mall Citadel Outlets has named a new marketing team.
       
Traci Markel has been named marketing director and Simone O’Connor has been named marketing and special events manager.  The Citadel marketing team also includes Veronica Garzaro, marketing and domestic tourism manager, and Kristina Carlson, international tourism sales manager.
       

Miami Beach, Fla. -- Terranova Corp. announced it has been awarded new leasing assignments for two south Florida strip centers.
       
Piper’s Glen Shopping Center in Boynton Beach and Shoppes of Ives Dairy in Miami Gardens have been added to the Terranova leasing portfolio, effective immediately.

Ashburn, Va. -- Commerce, Mich.-based LaVida Massage announced it will open its first Virginia location, located at Greenway Corporate Drive, in Ashburn.
      
The new 3,200-sq.-ft. location is slated to open in early June.

New York City -- SRS Real Estate Partners said that Panera Bread has leased 6,926 sq. ft. on the ground-floor and basement levels at 120 E. 86th Street in Manhattan.
      
The lease was arranged by way of a termination with the current tenant, Walgreens, and a new lease execution with Panera.

New York City -- Winick Realty Group said that An Pure Spa, an upscale nail and day spa, has leased its first New York City location at 207 Ninth Avenue.
       
The 1,965-sq.-ft. ground-floor space is accompanied by a 1,965-sq.-ft. basement.

Austin, Texas -- Whole Foods Market's second-quarter net income rose 33% on strong sales, beating analyst expectations. The company raised its full-year earnings outlook.

Whole Foods said the overall results for the quarter were its strongest in five years. It has fully repaid its long-term debt and is considering using its growing cash balance to grow faster, raise its dividend and repurchase stock.