Real Estate

CHiCAGO --  Walmart has succeeded in bringing its smaller format store concept to Chicago, helping to make the case that the retailer can find success in more urban markets, including New York, which has thus far eluded the retailer. The company announced that it has secured locations in West Englewood for a Walmart Market and Walmart Express store.  According to the company, West Englewood is in the heart of a food desert and one of Chicago’s most underserved communities. 

Indianapolis -- Simon Property Group announced Wednesday that Las Vegas Outlet Center will open a major expansion on March 17, adding 13 new stores and approximately 70,000 sq. ft. of GLA, and bringing the center to more than 140 stores for a total of 535,000 sq. ft.

With this expansion, the center is being renamed Las Vegas Premium Outlets - South. The center was also recently renovated, receiving a complete external makeover with significant interior improvements as well.

Salisbury, N.C. -- Delhaize America said Monday it plans to convert all of its Bloom stores in North and South Carolina to the Food Lion banner, with the exception of one Bloom store in Mauldin, S.C., that will close.

According to a report by Supermarket News, the 15 Bloom locations in the Charlotte and Greenville, S.C., markets will be converted "as quickly as possible."

GRAND RAPIDS, Mich. -- The economic downturn has been especially tough on the Midwestern region of the United States, but now Meijer is bringing some renewed hope to the area with news it will invest more than $75 million in a major remodel project for stores in Michigan and Ohio, with eight Michigan stores benefiting from this new initiative. The announcement was made by Hank Meijer, co-chairman and CEO of the company.

Ann Arbor, Mich. -- Borders Group is expected to announce that another 75 stores will be closed.

Mike Edwards, president, in a conference call said that the additional store closings would come from a group of 140 "bubble stores" that had already been identified for possible closings.

The bookseller previously said it would close 200 stores when it announced it had filed for Chapter 11 bankruptcy on Feb. 16. At the time, the retailer said another 75 could be closed. The new round of stores has not yet been identified.

Walker, Mich. -- Meijer announced Monday it will invest $75 million to remodel 10 stores in Michigan and Ohio.

Eight of the stores slated for renovation are in Michigan and two are in Ohio.

“We are pleased to reinforce our commitment to these communities,” said CEO Hank Meijer. “Our customers expect high standards from us, and our investment in these stores will ensure they continue to receive our best.”

New York — Ann Taylor Stores Corp. On Friday posted a bigger-than-expected quarterly profit on improved sales. The company, which said it will change its corporate name to Ann Inc. to better reflect its multichannel focus, also forecast strong first-quarter sales.

Completion of a previously announced acquisition combined with organic growth will result in the addition of 168 stores to Asda’s existing 386 units and push Walmart’s U.K. division past the 500-unit mark.