Real Estate

Schaumburg, Ill. — Caruso Development has awarded the property management contract for Barrington Square, a 101,500-sq.-ft. retail center in Hoffman Estates, Ill., to SVN Crossroads Management. Situated in high-traffic areas in Chicago’s northwest suburbs, Barrington Square’s tenants include America’s Bar and Grill, GiGi’s Playhouse and Poplar Creek Bowl.

Currently SVN Crossroads manages a portfolio of more than two million sq. ft.

New York -- Bi-Lo Holdings and Delhaize Group have received approval from the Federal Trade Commission to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in Delhaize’s Sweetbay, Harveys and Reid’s supermarket chains. As part of the deal, Bi-Lo agreed to divest 12 Delhaize America stores in Florida, Georgia, and South Carolina, and Delhaize Group agreed to retain two stores that were initially part of the deal.

Mexico City – Wal-Mart de Mexico reportedly plans to increase business investment 7% during fiscal 2014 as it shifts focus from opening new stores to remodeling existing stores. According to Reuters, Wal-Mart de Mexico will spend about $1.1 billion in fiscal 2014, while increasing total floor space by about 5%.

Austin, Texas — CBRE has announced three more Austin-area locations for local fast casual restaurant VERTS, bringing its store count to 10. In 2014, VERTS plans to open 13 new locations, including expansions into Dallas and Houston.

The newest locations are in North Austin. Locations in Round Rock and Cedar Park will open in the next two months.

Bi-Lo Holdings and Delhaize Group have received approval from the Federal Trade Commission to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize.

Arcadia, Wis. -- Ashley Furniture HomeStore, the largest furniture retailer in the U.S., celebrated the opening of its 500th store in Longview, Texas, on Feb. 21. It is the chain’s 48th store in the Lone Star state.

The company, whose sales exceeded $3 billion in 2013, has 50 additional HomeStore openings on tap in 2014.

Pittsburgh – Dick’s Sporting Goods opens a new store in Panama City Beach, Fla., on March 7. The store will be located at Pier Park North and will be the retailer's 25th store in the state of Florida and its 559th nationwide.

Dillard’s CEO William T. Dillard II voiced disappointment in the retailer’s gross margin performance despite what he called a profitable fourth quarter. Although comparable sales grew 2%, the retailer said lower-than-anticipated sales necessitated heavy markdowns.