Real Estate

Meijer will spend $400 million on store expansion and remodeling in 2016 as the chain looks to expand its footprint.

The investment includes the construction of nine new Meijer supercenters and 32 remodel projects. While Michigan, Indiana, Illinois, Kentucky and Wisconsin will each welcome new Meijer supercenters later this year, dozens of other Meijer stores have begun or will soon begin remodel projects to further enhance the customer shopping experience.

Publix on Tuesday posted sales for the fourth quarter of 2015 of $8.2 billion, a 4.5% increase. Comparable-store sales for the fourth quarter of 2015 increased 3.2%.

“I’m pleased to report another year with excellent results,” said CEO Ed Crenshaw. “Our associates deserve the credit for continuing to make us a leader in customer service.”

Publix’ sales for the fiscal year ended Dec. 26, 2015, were $32.4 billion, a 5.9% increase from last year’s $30.6 billion. Comparable-store sales for 2015 increased 4.2%.

The expanded Disney Springs (formerly called Downtown Disney) center in Lake Buena Vista, Fla., unveiled 30 new retail tenants that will be moving in when the project is completed.

Phillips Edison Grocery Center REIT II announced the strategic acquisitions of four grocery-anchored shopping centers in Colorado, Florida and California.

Publix Super Markets hit a milestone in 2015 as it exceeded the $30 billion mark in annual sales and also racked up another impressive quarter.

The grocer reported that net earnings for the quarter ended Dec. 26, 2015, rose 15% to $521.1 million, from $453.3 million in the year ago period. For the full year, earnings rose some 13%, to $2 billion, compared to $1.7 billion last year.

Charlotte, N.C. -- Starwood Retail Partners announced a $50 million investment in an 11-acre parcel adjacent to Northlake Mall in Charlotte, North Carolina. The company plans to build a 200,000-sq. ft. lifestyle component complementing the existing two-story mall. Construction is set to begin by early 2017.

The project will include retail, dining, entertainment, landscaping, parking and pedestrian friendly areas.

North Plainfield, N.J. -- Levin Management announced a series of promotions and new hires to support continued growth and expansion in 2016.

“This is an exciting time for our company,” noted Matthew K. Harding, president for Levin. “We ended 2015 on a very positive note, and expect this momentum to continue throughout 2016. Our internal promotions and new staff additions ensure that we will consistently meet, and exceed, client expectations as we strengthen Levin’s presence in key markets throughout the Northeast.”

Chattanooga, Tenn. -- CBL & Associates Properties announce locations for the second phase of Fisher-Price play areas to be installed as part of a multi-year, multi-property partnership, which was announced fall 2015.

The play areas will resemble a larger-than-life Toy Box featuring iconic brands like Thomas & Friends, Little People and more. These exclusive attractions will be brought to life by PLAYTIME, LLC, long-time partner of CBL.

Charleston, S.C. -- Faison Enterprises announced it broke ground on its new mixed-use development, located in Daniel Island’s Town Center, Charleston, South Carolina. The project will include 317 luxury apartment units along with nearly 30,000 sq. ft. of restaurant and retail space.

Dollar Tree on Tuesday credited sales at its Family Dollar division as helping to boost the company’s overall results for the fourth quarter. But the increase still fell short of analysts expectations.

Sales for the quarter ended Jan. 30 totaled $5.37 billion, a 116.7% increase from the year-ago period but still less than expected. The boost in revenue was the result of $2.68 billion in sales from the Family Dollar segment.