Restaurant

Ontario, Calif. -- Westwood Financial Corp. has sold Pacific Plaza Shopping Center located at in Ontario, Calif., for $7.4 million.

“This transaction is the latest in our firm’s overall plan to rebalance our portfolio, as the funds generated here will be reinvested in grocery-anchored properties in the Southeast,” said Westwood financial executive VP Joe Dykstra.

Seattle -- Starbucks Corp.’s net income surged a better-than-expected 18% in its fiscal second quarter, as its store traffic increased in most parts of the world. The coffee giant also raised its forecast for the year on the results and said it was accelerating its growth.

For the three months ended April 1, the company earned $309.9 million, compared with a profit of $261.6 million in the year-ago quarter. Revenue rose to $3.2 billion, up from $2.79 billion a year ago. Same-store sales increased 7%.

Easton, Pa. -- Purchase, N.Y.-based National Realty & Development has announced the opening of Panera Bread at Northampton Crossings, located in Easton, Pa. Panera occupies a 3,860-sq.-ft. drive-thru space.

PetSmart will open at the center in late spring, with a 12,500-sq.-ft. store. The two new stores join anchor tenants Walmart Supercenter, Kohl’s, Sam’s Club and Regal Cinemas.

Other recent transactions at the center include Staples and Shoe Show lease renewals.
 

Delray Beach, Fla. -- Indianapolis-based Kite Realty Group said Thursday that Republic of Couture will open an 8,000-sq.-ft. store at Delray Marketplace, located in Delray Beach, Fla. The new store is slated to open in November.

Delray Marketplace is a 270,000-sq.-ft. center anchored by Franks Theatres, Max’s Grille and Publix.

Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with three franchise groups to develop 25 new restaurants in Texas over the next several years. The locations include 16 units in Houston and nine in San Antonio.

Dunkin' Donuts' development throughout Texas is part of the company's goal to double the number of Dunkin' restaurants in the United States over the next 20 years.

Milwaukee -- Interior Systems, which specializes in interior design, branding, seating and decor for the restaurant, retail and education industries, announced the appointment of Tony Lutz as its new president and CEO. Founder and former president and CEO, Lindsey Bovinet, is actively continuing with the company as chairman.

Prior to ISI, Lutz worked in advertising at Bell Atlantic in Philadelphia.
 

Laguna Hills, Calif. -- The Hodgdon Group said it has completed construction on the conversion of a Circuit City building in Laguna Hills, Calif., for the grand opening of an Ashley Furniture HomeStore on Friday, April 20. 



The former Circuit City building was expanded to make way for a fully remodeled 51,000-sq.-ft. retail building, which includes the new 33,000-sq.-ft. Ashley Furniture HomeStore plus Total Wine & More in the remaining 18,000 sq. ft.

Las Vegas -- McDonald’s has opened its first and only location under the Metro McDonald’s banner, in downtown Las Vegas.

The two-level, 6,734-sq.-ft. space is located on Las Vegas Boulevard, next to Planet Hollywood Resort Casino’s Miracle Mile Shops. The new McDonald’s boasts 24-hour service, digital menu boards and WiFi access. The contemporary-looking interior is bright and vibrant, with sleek furniture and graffiti-like murals.