Real Estate

Belgium -- Belgian supermarket operator Delhaize Group said Thursday it plans to spend $1.21 billion opening new stores and remodeling existing outlets.

According to a report by Wall Street Journal, Delhaize, which operates mainly under the U.S. Food Lion, Hannaford and Sweet Bay banners, is making the investments despite a fourth quarter same-store sales decline of 0.8%.

WARREN, Mich. -- Art Van Furniture announced that, for the first time in company history, it will grand open three stores in one day. On January 22, 2011, Art Van will celebrate the grand openings of three new stores  in Auburn Hills, Petoskey and Onaway. Mich.

Newport Beach, Calif. -- Grubb & Ellis Co. said Friday that H&M has leased 19,600 sq. ft. of retail space at The Forum in Carlsbad. 

The retailer signed a 10-year lease for the space, which includes a portion of the second level of The Forum. The company will take the majority of the space currently occupied by Borders Direct LLC, which is expected to vacate in spring 2011. 

The retailer, which plans to open its Carlsbad location in summer 2011, now has 2,200 stores in 38 countries.

Lexington, N.C. -- Grocery retailer Save-A-Lot announced Thursday it will break ground on a new 325,000-sq.-ft. food distribution center in Lexington, N.C.

The center is expected to open by December 2011. It is the result of collaboration with the state of North Carolina and its One North Carolina Fund, the North Carolina Department of Commerce, Davidson County and the City of Lexington.

Little Rock, Ark. -- In a regulatory filing on Wednesday Dillard's said it plans to form a real estate investment trust, with the objective of improving liquidity.

According to the department store retailer, various company entities will transfer interests in properties to the REIT, which will then lease the properties back to them.

"Dillard's believes the formation of a REIT may enhance its ability to access debt or preferred stock and thereby enhance its liquidity," the filing said.

Oak Brook, Ill. -- Inland Real Estate Acquisitions said Thursday it has purchased nine Dollar General stores in Alabama and Georgia for $8.5 million.

According to a report by the Atlanta Business Chronicle, the stores were built in 2010 and all leased to Dollar General Corp. through 2025 with multiple renewal options.

The stores range in size from approximately 9,000 sq. ft. to 10,600 sq. ft.

ST. LOUIS, Mo. — Save-A-Lot announced that it will break ground for a new 325,000-sq.-ft. food distribution center in Lexington, N.C.  The state-of-the-art center located in Lexington’s Business Center is expected to open by December 2011 and employ more than 40 employees initially with the potential for hiring additional employees once the facility is at full capacity.

Chicago -- Oakbrook Terrace, Ill.-based Mid-America Real Estate Group said Thursday that TJX's HomeGoods has signed a lease for 25,503 sq. ft. of space at 600 N. Michigan Avenue.

The site is the largest single-footprint space available in the district.