Real Estate

Cleveland -- Forest City Commercial Management announced the appointment of Kym Espinosa as marketing director for Promenade Temecula, a regional lifestyle center in Temecula, Calif.

Espinosa, who has more than 20 years of experience in the shopping center industry, is responsible for marketing program strategy and implementation for the 1.1 million-sq.-ft. retail center.

Indianapolis  -- Simon Property Group will assume leasing, management, and marketing duties at The Shops at Montebello, in Rosemead, Calif., effective Feb. 1.

"We are pleased to take on the property management functions of this high-quality asset at the request of the institutional owner," said Rick Sokolov, Simon's president and COO.

Berwyn, Ill. -- The city council of Berwyn, Ill., has unanimously approved a redevelopment agreement with Meijer to anchor the city’s Cermak Plaza shopping center. Meijer currently has nearly 200 locations in the Midwest, and this newest site will be the closest location to downtown Chicago.

Meijer recently announced a new format, Chicagoland, for the urban marketplace. These urban infill stores will focus largely on grocery and pharmacy but will still offer general merchandise for a one-stop-shopping experience.

Orange, Va. -- Wal-Mart Stores has abandoned its plans to build a Walmart Superstore near a Civil War battlefield in Virginia. The retailer’s lawyers made the announcement Wednesday in a northern Virginia court, where a judge has been hearing a case to block the plan.

New York City -- Ikea plans to use solar energy in its store under construction in the Denver suburb of Centennial. Pending governmental permits, installation of solar panels on the store’s roof will begin in February, with completion by grand opening this fall.

Chicago -- Lemont, Ill.-based Englewood Construction said Wednesday it has embarked on five new projects -- four in the Midwest and one in Washington, D.C.

In the Chicago area, Englewood has been tapped for three new retail projects, including the interior build-out for a new Trader Joe’s coming to the city’s Lincoln Park neighborhood. Trader Joe’s will occupy 14,801 sq. ft. of first-floor retail space, topped by a two-story parking deck. The new store is slated to open in April.

With the large amount of excess store space available for lease in 2010, more retailers used pop-up stores this past holiday season than ever before.  This concept is now transforming into a viable strategy that has a life beyond the holiday season rush. In 2011 innovative retailers will employ it as a year-round approach that complements their core business strategy.

Pearl River, N.J. -- Katz & Associates, the exclusive broker for Eastern Mountain Sports, announced that the retailer has executed a lease for a 3,000-sq.-ft. flagship on the Upper West Side of Manhattan.

The two-level store, EMS’ second to date in Manhattan, will be located on the southeast corner of Broadway and West 76th Street. It is scheduled to open this fall.