Real Estate

Kroger to open largest Atlanta-based supermarket
SMYRNA, Ga. — Tri-Land Properties has broken ground for the redevelopment of The Crossings at Four Corners here in Smyrna, Ga. The 8-acre site will be home to Kroger’s largest supermarket in the Atlanta area: a 96,000-sq.-ft. grocer replete with fuel station, a wine shop and drive-through pharmacy.
Reinvented Department Stores and Malls See Robust Rebound
Department stores and shopping centers malls are gaining market share for the first time in three decades, according to consultants Customer Growth Partners, and this month most will report their best annual earnings in years -- if not ever.

“Department stores from Macy’s to Nordstrom, and mall operators from Macerich to Simon, have used the recession not just to cut costs, but to reinvent themselves,” said Craig Johnson, president, Customer Growth Partners, a consulting and research firm serving retail and other consumer industries.

Bon-Ton to open new Herberger’s location

York, Pa. -- The Bon-Ton Stores has signed a letter of intent with Simon Property Group for the 135,000-sq.-ft. former Mervyn's facility located in the Southdale Center in Edina, Minn.

Remodeling of the site is expected to begin in March and be completed in November, at which time Bon-Ton will open a new store under its Herberger’s banner.
The new Herberger’s location will bring the total number of Herberger’s stores to six in the Minneapolis/St. Paul market.
Sweet Smell of Success
A New Yorker’s perspective on Walmart

Crain’s New York Business this week reported on an interesting situation involving Walmart and the hype surrounding the company entry into the city. According to author Greg David, “as the opponents of Walmart continue their campaign to prevent the company from opening stores in New York, it remains a mystery how they intend to do that. David notes that the City Council has no power to intervene in leases signed at existing retail locations, and the company seems more determined than ever to take on the Big Apple.
Serving Up Stores
Focus on: LEED for Retail
Whole Foods Q1 income jumps 79%, same-store sales up 9.1%

Austin, Texas -- Whole Foods Market’s first quarter net income surged 79% to $88.7 million, on an increase in customer visits and a rise in average transactions. The natural and organic foods grocer raised 2011 profit outlook on its strong results, which beat expectations.
Small Formats, Big Opportunities
Massage Envy to expand in Pittsburgh area

Scottsdale, Ariz. -- Massage Envy announced Thursday the signing of a multi-unit Regional Developer agreement with Sol Glastein for the development of 11 new centers in Pittsburgh, Western Pennsylvania and Morgantown, W.V.

Glastein has been a Massage Envy franchisee since 2006 and currently operates two centers in New Jersey.

In 2010, Massage Envy opened 43 locations, bringing the total number of locations to more than 650 units operating in 43 states.

Kroger to open largest Atlanta-based supermarket

Reinvented Department Stores and Malls See Robust Rebound

Bon-Ton to open new Herberger’s location

Sweet Smell of Success

A New Yorker’s perspective on Walmart

Serving Up Stores

Focus on: LEED for Retail

Whole Foods Q1 income jumps 79%, same-store sales up 9.1%

Small Formats, Big Opportunities

Massage Envy to expand in Pittsburgh area