Real Estate

Dallas - Between now and June 30, 7-Eleven Inc. will waive the franchise fee on a select number of its U.S. stores available for franchise, a savings of up to $80,000. The more than 200 available stores are located in cities across the country.

During the last four years 7-Eleven has grown its store base by more than 1,300 units. Now that a 7-Eleven customer base has been established at these locations, the company is looking to transition these stores to franchise operations.

New York - Together with its Japanese licensee Sazaby League Ltd., Shake Shack Inc. will open the first-ever Tokyo Shake Shack in 2016. Shake Shack and Sazaby League intend to open one store in Tokyo and 10 total stores in Japan through 2020.

Dublin, Calif. - Ross Dress for Less will open two new stores in Louisiana on March 7. The stores are located in Juban Crossing in Denham Springs, and Magnolia Marketplace in central New Orleans.

With these new locations, Ross will operate 15 stores in Louisiana. Together, Ross Dress for Less and DD’s Discounts currently operate more than 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
 

Puerto Rico is home to many retailers’ most productive units and now Saks and Nordstrom are looking to get in on the action when they open their first locations next month in the island’s new Mall of San Juan.

The mall is set to open March 26, two and a half years after breaking ground, and will contain a 138,000-sq.-ft. Nordstrom and a 100,000-sq.-ft. Saks. The property also includes a hotel and a casino.

New York -- Saks Fifth Avenue will open its first store in Puerto Rico. The 100,000-sq.-ft., multi-level store opens in conjunction with the Mall of San Juan on March 26.

“There is great opportunity in San Juan – the demand for luxury retail from locals and tourists is thriving,” commented Marigay McKee, president of Saks Fifth Avenue.

Wal-Mart Stores is giving a big boost to its Canadian operations even as Target shuts downs its failed Canadian venture.

Philadelphia -- X Team International announced that partner MSC Retail has completed a lease transaction with Rascals Fitness in Collegeville, Pennsylvania.

Rascals Fitness will open a 12,183-sq.-ft. facility in Collegeville Plaza at the intersection of Main Street and 2nd Avenue. “We’re excited to have helped complete the lease for Rascals Fitness on their third location in Pennsylvania,” said Michael Salove, president and CEO of MSC Retail.

GNC Holdings Inc. is looking to 2015 as a year of expansion. The retailer plans to open 125 total net new domestic and retail segment locations, and has plans for more.

The retailer also will open approximately 150 net new international franchise locations, and approximately 30 net new GNC-Rite Aid store-within-a-store locations.

GNC announced its store growth plans as part of its fourth quarter 2014 financial results. During the quarter, net income rose 9% to $51.77 million from $47.66 million. A decrease in interest expense drove the rise in profits.