Real Estate

New Delhi, India -- A Friday report by the Wall Street Journal disclosed that Wal-Mart Stores Inc. expects to open its first retail stores in India within the next 12 to 18 months.

In an interview with WSJ, Scott Price, Asia president and CEO of Wal-Mart, said that the retailer has not pinpointed where the first stores will be located or ultimately how many there will be. But the latest decision handed down by the Indian government allowing megastore retailers to enter the country via joint ventures paved the way for the impending openings.

Loveland, Colo. -- Bass Pro Shops has signed a letter of intent with Loveland, Colo.-based shopping center developer McWhinney to anchor a new northern Colorado development at Centerra.

The approximately 117,000-sq.-ft. Bass Pro Shops is intended to draw shoppers from Colorado, Wyoming, Nebraska, and beyond.

“We are very excited to bring Bass Pro Shops to Loveland and be part of the Centerra development,” said Johnny Morris, founder and CEO, Bass Pro Shops.

Chicago -- A real estate report released Wednesday by Mid-America Real Estate Corp.’s Urban Team found that much of Chicago lacks the type of product that today’s downsized big-box retailers are looking for.

Publix is making its North Carolina debut with the planned opening of a new store in the greater Charlotte area.

The company has signed a lease for a store at Providence Road West and Johnston Road in Ballantyne. The store will be part of a new division based in Charlotte.

While Ballantyne marks Publix’s long awaited entry into North Carolina, the company is looking ahead to continued growth within the state and in its current operating areas of Florida, Georgia, South Carolina, Alabama and Tennessee.

MINNEAPOLIS — Target is opening its first store in East Peoria, Ill. in March 2013. The 135,000 sq. ft. store, located at Clock Tower Drive and West Washington Street, will be part of the 86-acre East Peoria Downtown development.

According to Target, the new store will feature the typical Target assortment along with a selection of fresh produce, fresh packaged meat and pre-packaged baked goods as well as a Starbucks and a Target Pharmacy to further enhance guests’ experience. The store will employ approximately 150 to 200 team members.

Seattle -- Nordstrom announced plans to open Nordstrom Rack stores in the Milwaukee suburb of Wauwatosa, Wis.; Ann Arbor, Mich., and Columbus, Ohio.

It will be the retailer's first location in the state of Wisconsin.

The approximately 36,000-sq.-ft. store in Wauwatosa, Wis., is scheduled to open in spring 2014 at The Mayfair Collection, a 250,000-sq.-ft. planned adaptive reuse development of a former industrial complex and distribution center.

Lakeland, Fla. -- Publix Super Markets announced that it has signed a lease for its first store in the state of North Carolina. The company said it is looking forward to continued growth in the state, and that the new location will be part of a new division based in Charlotte.

The 56,000-sq. ft. store, which will be located in Ballantyne, N.C., is scheduled to open in early 2014.
 

Minneapolis -- Target Corp. said it will open a store in East Peoria, Ill., in March 2013.

The store will be part of the 86-acre East Peoria Downtown development. This will be the first Target store in East Peoria.

Jacksonville, Fla.-based Regency Centers has acquired Balboa Mesa Shopping Center, a 189,321-sq.-ft. infill shopping center anchored by a 42,247-sq.-ft. Vons grocery store.

Regency purchased the San Diego property for $59.5 million from Balboa Realty LLC.
 
Built in 1969, Balboa Mesa Shopping Center is also anchored by a 77,000-sq.-ft. Kohl’s and a 24,000-sq.-ft. CVS/pharmacy.

Santa Clara, Calif. -- Burberry, Tag Heuer and Wolford will join Westfield Valley Fair’s collection of luxury retailers, marking the debut of the South Bay shopping center’s first phase of significant expansion.

The new stores will join Cartier, Mont Blanc, Louis Vuitton and Tiffany & Co. on the east side of Westfield Valley Fair.