Real Estate

Kroger is thinking big in Texas with a three year, $1.2 billion investment plan and just created a new senior leadership structure to execute the growth strategy.

Kroger’s growth aspirations in Texas will be overseen by two key executives tasked with leading newly created divisions. The retailer created a new Dallas division and a Houston division. The stores in both areas were previously part of the company’s 214 unit Southwest division.

Chicago -- Transwestern’s Chicago office announced it brokered the sale of Town Square of Schaumburg, a 96,014 sq. ft. retail center, in Schaumburg, Illinois, for an undisclosed amount to Tony’s Finer Foods. Tony’s Finer Foods plans to open a Tony’s in the former Dominick’s space, which closed in December 2013.

Bexley, Ohio -- Stanbery Development said it has named former Jos. A. Bank exec Stephen E. Gallant as director of construction and tenant coordination as it returns to active development of shopping centers. Gallant's experience includes responsibility for numerous retail design concepts as well as associated rollouts of new stores ranging from 850 sq. ft. to 250,000 sq. ft. Most recently, Gallant managed real estate portfolios and retail tenant construction projects for Skye Group and The Stanchion Group, respectively. As VP of facilities management for Jos. A.

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For many, the concept of an outlet mall is associated with not only appealing deals on name-brand products, but also with driving long distances to get to the far-flung locations where outlets have traditionally been located.
 

Bellingham, Wash. – West Coast regional grocer Haggen is scaling back some highly ambitious growth plans. Haggen, which made headlines by buying 146 divested Albertson’s and Safeway stores as an 18-unit chain in December 2014, is closing or selling a number of locations in California, Arizona, Nevada, Oregon and Washington.

Westlake, Ohio -- TravelCenters of America has completed its previously disclosed acquisition of 33 convenience store locations in northern Illinois.

The company expects the stores, which average approximately 3,400 sq. ft., will be rebranded as Minit Mart convenience stores and the sites will undergo improvements in the coming months.

TravelCenters of America operates some 370 convenience stores under the Minit Mart, TA and Petro Stopping Centers brands.
 

Miami – The Related Group is set to transform the Miami suburb of Doral with the massive 600,000 sq. ft. CityPlace Doral. The $800 million mixed-use development components include 240,000 sq. ft. commercial space, 1,000 luxury residential units and Boutique Boulevard -- more than 40 shopping, entertainment and dining venues. Once complete, the project will offer the area’s only walkable luxury shopping plaza.

Seattle -- Finally some good news in the department store sector.

Nordstrom Inc. on Thursday reported better-than-expected fiscal second-quarter earnings and sales.

The retailer reported net profit of $211 million, or $1.09 a share, for the quarter ending Aug. 1, up from $183 million, or 95 cents a share, in the year-ago period.

Columbus, Ohio -- DSW continues its march across America.

The footwear and accessories retailer is opening 22 stores this fill, including six locations in new markets.

"Expanding our store base allows us to grow our footprint in areas we already call home, while also bringing DSW stores and the DSW brand to areas where our customers have been anticipating our arrival,” said Carrie McDermott, executive VP and COO of DSW, which operated 449 stores in 42 states.