PetSmart LLC

PHOENIX — PetSmart announced that its current president and COO David K. Lenhardt will assume the role of CEO, effective June 14, following the annual meeting of stockholders. Lenhardt will also be appointed to the board of directors at that time. Bob Moran, current chairman and CEO, will be appointed executive chairman.

Phoenix -- PetSmart on Tuesday announced its planned management succession plan. The company said that following its annual shareholders meeting on June 14, 2013, current president and COO David K. Lenhardt will be promoted to CEO and simultaneously join the board of directors. At that time, current chairman and CEO Bob Moran will vacate the CEO's chair and become executive chairman.

Slidell, La. -- Chattanooga, Tenn.-based CBL & Associates Properties and Covington, La.-based Stirling Properties announced Wednesday the formation of a 65/35 joint venture to develop Fremaux Town Center in Slidell, La.  

Beachwood, Ohio -- DDR Corp. announced Tuesday that it has expanded its redevelopment program in Puerto Rico from $50 million to $90 million.

"Increased demand for quality retail space in this supply-constrained market has created unique value-add opportunities in many of our most productive assets," said Paul Freddo, senior EVP leasing and development, DDR. "By executing our strategic redevelopment plan, we are creating attractive opportunities for our key domestic tenants to establish or expand their presence on the island."

Merriam, Kansas -- Shopping center owner and developer DDR Corp., based in Beachwood, Ohio, said Tuesday it will sell 22 acres of land to Ikea Property for the construction of Ikea’s first store in Kansas, located in the Kansas City bedroom community of Merriam, Kan.
 
Ikea confirmed Tuesday that the City Council of Merriam has unanimously approved plans for this project, following last month's approval from the city's Planning Commission.
 

Philadelphia -- Metro Commercial Real Estate said that David’s Bridal will open an 8,164-sq.-ft. store at Great Northeast Plaza, located in the northeastern part of Philadelphia.

The new store is slated to open by spring 2013.

Waynesville, N.C. -- Chattanooga, Tenn.-based CBL & Associates Properties announced the opening of its newest community center development, Waynesville Commons, a 127,500-sq.-ft. community center in Waynesville, N.C.  

Joining the existing Walmart, the 100% leased center is anchored by an 85,000-sq.-ft. Belk, Michaels and PetSmart, along with 11,000 sq. ft. of specialty stores including US Cellular and Rack Room Shoes.

Phoenix -- Cole Real Estate Investments said it has purchased three retail power centers totaling about 875,000 sq. ft. for $130.9 million.

The acquired properties are Hillside Town Center, a 165,000-sq.-ft. center in Hillside, Ill., for $27 million; White Oak Village, a 433,500-sq.-ft. property in Richmond, Va., for $68 million; and Barrow Crossing, a 276,000-sq.-ft. center in Winder, Ga., for $35.9 million. Barrow Crossing is a joint venture with Faison, the original developer of the property.