Real Estate

Seattle – Nordstrom will open a Nordstrom Rack at Village Plaza at Bunker Hill in Houston. The 30,357-sq.-ft. store is scheduled to open in spring 2014.

The first Houston Rack store opened at The Centre at Post Oak in 2010, and the Bunker Hill Rack will be the third Rack in four years to open in the area. Nordstrom first came to Houston with a full-line store at The Galleria in 2003. The company will open its second Houston full-line store at The Woodlands Mall on September 5, 2014.

Mooresville, N.C. -- Lowe's Cos. net income rose 26% in the third quarter, just short of projections, amid the housing market's ongoing resurgence. The retailer raised its fiscal 2013 outlook, but its earnings forecast was still below expectations.

Lowe's earned $499 million for the period ended Nov. 1, up from $396 million last year. Its earnings were a penny per share short of Wall Street expectations.

Revenue rose 7% to $12.96 billion from $12.07 billion, beating analysts’ predictions. Same-store sales increased 6.2%.

Johor, Malaysia — Genting Simon, a joint venture between Genting Group and Simon Property Group, has announced the opening of the second phase of Johor Premium Outlets in Johor, Malaysia.

The expansion has added 40 new stores and 100,000 sq. ft. to the center, bringing the store total to 120.

Franklin Township, N.J. — La Perle Spa and Salon has leased 1,802 sq. ft. at Rutgers Plaza in Franklin Township, N.J., according to Levin Management, the exclusive leasing and managing agent for the 266,650-sq. -ft. center.

Co-anchored by a 74,000-sq.-ft. Stop & shop and a 98,684-sq.-ft. Kmart, Rutgers Plaza tenants include Office Depot, Dollar Tree, RadioShack, GameStop, Dressbarn, Chase Bank, Plaza Cleaners, Anthony’s Pizza, Venus Jewelers and Burger King.

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sale of Chambersburg Mall in Chambersburg, Pa., for $8.8 million.The sale marks another step in PREIT’s continuing effort to improve the quality of its portfolio through the sale of non-core assets. Net proceeds from the transaction totaled approximately $8.4 million.

When the new Nordstrom Rack opened at Mercato in Naples, Fla., in early November, 500 people somehow got into the store within the first five minutes. No kidding.

Nordstrom Rack replaced Books-A-Million in a 30,000 sq. ft. space in the center, joining several other new tenants including The Wine Loft, The Counter, MASA, Kelly Chase Couture and Mark Loren Designs, Le Macaron, Salon Zen AVEDA, Second Cup and TAPS Bar & Lounge.

Greensboro, N.C. — Tanger Outlets National Harbor will celebrate its grand opening on Nov. 22. The outlet store line up includes: White House | Black Market, Calvin Klein, Gap, Halston Heritage, American Eagle Outfitters, Tommy Hilfiger, Banana Republic, Theory, Elie Tahari, Brooks Brothers, Aeropostale, Coach, Hugo Boss, J. Crew, Peter Millar, Diane von Furstenberg, Le Creuset and more.

The 340,000-sq. ft. center is located just minutes from the U.S. Capital.

Pittsburgh -- Sales growth fueled in part by the opening of 25 new branded stores did not prevent Dick’s Sporting Goods from reporting a slight decline in net income during the third quarter of fiscal 2013. Net income totaled about $50 million, down incrementally from $50.1 million a year earlier.

Net sales totaled $1.4 billion, up 7% from $1.31 billion. Consolidated same-store sales rose 0.3%, beating company estimates of a 2-3% decline.