Real Estate

Wise, Va. -- Brixmor Property Group announced on Monday that Dollar Tree has opened a 9,000-sq.-ft. store at Ridgeview Centre, located in Wise, Va.

Brixmor, based in New York City, is the owner of Ridgeview Centre.
 

Shrewsbury, Mass. -- Charter Realty and Development said that it has leased a 19,300-sq.-ft. space at White City Shopping Center, in Shrewsbury, Mass., to Planet Fitness.

Planet Fitness joins Shaw’s, Dress Barn and Austin Liquors, among others, at the 255,000-sq.-ft. center.

Exton, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Tuesday that Francesca’s Collections has opened at its Exton Square Mall property, in Exton, Pa.

The arrival of the 1,300-sq.-ft. Francesca’s store will soon be joined by Teavana, which is set to open a 1,000-sq.-ft. store this summer.

New York -- Real estate industry veteran Laura Pomerantz said Monday she has launched a new firm, Laura Pomerantz Real Estate, focused on retail and office real estate transactions.

“As the retail landscape continues to evolve and companies re-evaluate their real estate portfolios, we look forward to working closely with our clients to develop both domestic and global real estate strategies that best facilitate growth and defines their brands,” said Pomerantz, founder and president, New York City-based Laura Pomerantz Real Estate.

Asian fusion restaurant Ling & Louie's Kitchen is coming to Minneapolis and it will be located across the street from Target’s headquarters on Nicollet Mall.

Normally, a restaurant opening in Minneapolis wouldn’t qualify as retail industry news. However, an exception can be made when the location is across the street from Target’s bustling downtown headquarters where it is likely to become the new hot spot for employees at Target as well as supplier companies who populate nearby buildings.

NEW YORK — Abercrombie & Fitch in its annual report revealed that it plans to open Abercrombie & Fitch flagship stores in Seoul and Shanghai in 2013, as well as 20 international Hollister stores. The news sent the teen retailer’s shares rising on Wednesday.

The company also said in the report that it is maintaining its focus on boosting profitability by simplifying processes, eliminating less-profitable parts of its business, shoring up efficiencies and cutting expenses.

Hilton Head Island, S.C. -- Joint-venture partners Kroger Real Estate and Blanchard & Calhoun Commercial announced Wednesday the launch of construction on the Shelter Cove Towne Centre, a 42-acre mixed-use development on Hilton Head Island, featuring the debut of Kroger Marketplace on the Island.

EVANSVILLE, Ind. — Quarterly net earnings at Shoe Carnival fell to $3.2 million, compared with $3.3 million in the year-ago period.

Revenue rose 13.1% to $205.7 million from $181.9 million, and same-store sales edged up 0.5%.

For the full year, profit rose to $29.3 million from $26.4 million, sales increased 12.1% to $855 million, and same-store sales advanced 4.5%.

In fiscal 2013, the company said it expects to open 30 to 35 new stores, relocate seven stores and close five to seven stores.

CLEVELAND — American Greetings announced that it has agreed to be taken private by a group led by some of its top executives for about $602 million.

The executive group was formed by the Weiss family — including chairman Morry Weiss; CEO Zev Weiss; director, president and COO Jeffrey Weiss and others — and will buy the shares of the company they don't already own for $18.20 a piece in cash. This amounts to a 13% premium to American Greetings' closing price of $16.10 last Thursday.

Evansville, Ind. -- Shoe Carnival reported Monday that net earnings for the quarter ended Jan. 28 slipped to $3.2 million, compared with $3.3 million in the year-ago period.

Revenue rose 13.1% to $205.7 million from $181.9 million, and same-store sales edged up 0.5%.

For the full year, profit rose to $29.3 million from $26.4 million, sales increased 12.1% to $855 million, and same-store sales advanced 4.5%.