Real Estate

Hoffman Estates, Ill. -- Sears Holdings Corp. announced the two remaining stores involved in its deal with European fashion retailer Primark. (In late 2014, Sears entered into lease agreements with Primark for seven standalone stores in the Northeastern United States.)

The two remaining stores will be located at Burlington Mall in Burlington, Massachusetts; and South Shore Plaza in Braintree, Massachusetts. Sears will continue to have a significant retail presence in both of these malls, which are owned and operated by Simon Property Group, Inc.

The Shoppes at Middletown brings specialty retail and dining to affluent eastern Monmouth County

A unique new shopping center is being designed to bring boutique and specialty retail and dining options to eastern Monmouth County in Central New Jersey. The Shoppes at Middletown, at 380,000 sq. ft., will emerge as a premier town center development when it opens in 2017. The project will be developed on 50 acres of the overall 120-acre project, and will feature 2,200 ft.

Wellesley, Mass. - Regional grocery chain has opened its flagship Downtown Crossing Boston supermarket in the newly restored Burnham Building. Roche Bros. is the first large-scale grocery store to be built in Boston's Downtown Crossing.

Foot Locker has signed a lease for a redesigned flagship store in the heart of Manhattan’s 34th Street corridor.

The new Foot Locker store will be located directly opposite Macy's world flagship store, at the intersection of Broadway, Avenue of the Americas and West 34th Street, where an estimated 100 million pedestrians pass by annually. Foot Locker will consolidate from three floors into 34,200 square feet on a portion of the ground floor and the entire second floor.

Plano, Texas – J.C. Penney Co. Inc. is expanding its in-store partnership with Sephora. Starting May 1, Penney will introduce Sephora to 25 additional stores, enabling the global beauty retailer to enter new and smaller markets, while expanding Penney’s reach as a destination for beauty.

Since the exclusive partnership launched in 2006, more than 500 Penney stores now feature a full-service Sephora offering.

Atlanta -- Sandwich operator Arby's Restaurant Group recorded systemwide same-store sales growth in first quarter 9.8%, marking 18 consecutive quarters of comp growth and indicating progress toward the quick-serve chain’s goal to surpass $4 billion in system-wide total sales by the end of 2018.
 

Beijing, China -- Wal-Mart Stores Inc. unveiled plans to countermand slowed growth in China with 115 new stores in the country by 2017 and creating some 30,000 jobs. The announcement adds about 35 new stores to the retailer’s building plans as Wal-Mart previously targeted 480 total stores in China by 2016, up from around 400 now.

CEO Doug McMillon said in a statement that "China is a key strategic market for Walmart. Over the next three years we will increase investment across our diverse business operations in China.”

Covington, La. - Stirling Properties and CBL & Associates Properties, Inc. are announcing 12 new tenants coming to Fremaux Town Center in Slidell, Louisiana. Anchored by a 128,000-sq.-ft. Dillard's, the second phase of this development will include approximately 285,000-sq.-ft. of additional retail space, including previously announced tenants Red Robin, Zales, Francesca’s and Aveda.  

Construction is moving along as scheduled with a planned opening of Phase II in October 2015.