Real Estate

New York -- Boscov’s Department Store believes in keeping it in the family. Albert Boscov, 85, has resigned as CEO of the company, and been succeeded by his nephew, Jim Boscov. The new chief, who will continue to serve as vice chairman, is the third generation of the family to lead the privately held business which was founded more than 100 years ago.

Peoria, Ill. - Scott D. Fitzgerald has been named VP of leasing and development at Cullinan Properties Ltd. Fitzgerald, who is based in Cullinan’s Chicago office, is responsible for pre-development activities for Waller Town Center in Waller, Texas and Avenue Shoppes at P-83 located in Peoria, Arizona, as well as other new development opportunities sought by Cullinan.

Los Angeles – Commercial builder Bernards is constructing two mixed-use, multifamily projects in Southern California that will include a strong retail presence. Bernard’s is nearing the end of the construction phase for the new, 303-unit Camden Glendale (formerly Glendale Triangle), a seven-story project designed to appeal to “Gen-X” professionals.

About a year and a half ago, I wrote the following about Sears in an article that appeared in this space: “the company has been run less like a retail operation and more like a REIT for many years now.”

New York - Ryan Guheen has joined Brixmor Property Group as senior VP, redevelopment & strategic leasing. Guheen is based in New York and will play a major role in the company’s Raising the Bar initiative.

Raising the Bar involves upgrading the merchandise mix at its shopping centers with best-in-class anchors to drive higher sales, traffic and small shop leasing, while elevating center appeal to improve rent levels and net operating income growth.

Fort Worth, Texas – Trademark Property Co. is adding three new tenants to its Westbend shopping center in Fort Worth, Texas. Restaurant chain HG Sply Co. will open a 3,800-sq.-ft. location with a 5,000-sq.-ft. outdoor patio.

In addition, Pax & Parker will open a 1,364-sq.-ft. luxury location and Woodhouse Day Spa will open a 5,240-sq.-ft. full-service luxury day spa.

New York -- While most retailers are shrinking their footprints, Nebraska Furniture Mart (NFM) is doing just the opposite, opening the nation’s largest home furnishings store. Located in the new 433-acre Grandscape mixed-use development in The Colony, Texas, the two-level store has a whopping 560,000 sq, ft. of selling space (equivalent to about nine football fields). Including its on-site warehouse, the space totals more than 1.8 million sq. ft.

Dallas - Corner Bakery Cafe is focusing franchising efforts in the Southeastern markets of Birmingham; Charleston; Charlotte; Columbus; Jackson; New Orleans; Raleigh; and Tampa. Corner Bakery Cafe is looking for best-in-class franchise operators who have relevant multi-unit restaurant/retail experience in the market to be developed.

In targeting the Southeast region, Corner Bakery Cafe, which has more than 390 locations in development commitments, plans to strengthen its presence.