Real Estate

Midland Park, N.J. – The 22,000-sq.-ft. Godwin Plaza mixed-use center is to undergo a major renovation and repositioning beginning in the second half of this year. The center was purchased in 2014 by Accordia Realty Ventures of Fairfield, New Jersey with the intention of transforming it.

The Great Atlantic & Pacific Tea Co. is actively shopping 137 of its stores, including 10 Food Emporium locations in New York City, according to the New York Post.

A&P, which emerged from bankruptcy protection in 2012, told The Record newspaper on June 16 that the company continues to weigh its options and that it is exploring strategic alternatives.

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Ridgefield, Conn. — Chick-fil-A will open its first restaurant in New York City this July. The 13,000-sq-.ft. restaurant on Sixth Avenue at West 37^th Street was built by Schimenti Construction, which is also constructing a second Chick-fil-A, in Port Jefferson, N.Y., also due to open this summer.

Phoenix — Vestar announced the signing of Forever 21’s newest concept store, F21 red, at Tempe Marketplace, in Tempe, Ariz. The 1,000-sq.-ft. store, the first F21 in Arizona, will open this fall.

The F21 red brand will offer a larger merchandise selection and lower prices of the trendy fashion forward styles for young men and women than the typical Forever 21 store.

Costa Mesa, Calif. — Anna's Linens Inc. announced it filed for  Chapter 11 bankruptcy court protection on June 14. The retailer said it is working to negotiate a sale to DW Partners, a multi-strategy fund manager with $6 billion in assets.

The asset management firm would become “the stalking horse” bidder, and make the initial bid in a bankruptcy auction sale.

Wayne, N.J. — Toys ‘R Us Inc. has opened a new distribution center in Saint-Fargeau-Ponthierry, France to support the company's expanding e-commerce business throughout France and in select sections of Europe. The 550,000-sq.-ft. facility will service retail distribution to the country's 48 store locations and e-commerce operations throughout France.

Aliso Viejo, Calif. — Johnny Rockets plans to open 25 new domestic stores during 2015 and 100 new domestic stores by 2017 via franchise expansion.

The casual dining chain is targeting the following U.S. cities for franchise growth in its Johnny Rockets, Johnny Rockets Express and Johnny Rockets Route 66 banners: Tucson, Arizona; Houston, Bridgewater, New Jersey., Gainesville, Florida; and Bakersfield and Fresno, California.

Shopko is continuing on its growth path with the opening of 15 new Shopko Hometown stores across eight states this July.

The new locations join 20 stores Shopko already opened earlier this year and more than 15 additional stores the company plans to open in October.

San Francisco — Gap Inc. on Monday lowered the boom on its biggest and most troubled division, announcing it would close 175 of its 675 namesake stores in North America over the next few years, with 140 of the closures occurring in the current fiscal year. In line with the closings, the brand’s headquarters workforce will be reduced by about 250 roles this year.

The closings will not impact Gap Outlet and Gap Factory Stores. Gap will also close a limited number of European locations, but it did not give a specific store count.

HARRISBURG, Pa. — Extreme-value retailer Ollie’s Bargain Outlet Holdings on Monday filed for an initial public offering. With a tagline of "good stuff cheap,”  Ollie’s operates 181 stores in the Eastern United States, expects to open 25 to 30 stores in fiscal 2015 and sees the potential for more than 950 locations across the country. (For more on Ollie’s, click here.)