Retail

Washington, D.C. -- The Rappaport Cos. and Principal Real Estate Investors announced a joint venture to acquire retail assets throughout the Mid-Atlantic region.  

The program launched with the recapitalization of approximately 1 million sq. ft. of retail space in four retail centers located in Northern Virginia.  

Boucherville, Quebec, Canada -- Canadian home-improvement chain Rona Inc. announced Tuesday it has named Robert Sawyer as president and CEO, effective next month.

Sawyer was previously an executive at grocery chain Metro Inc.

Rona’s acting CEO Dominique Boies will remain as company CFO.

Middletown, N.Y. -- National Realty & Development Corp. said that Chipotle Mexican Grill will join Orange Plaza with a new 4,625-sq.-ft. store.

Orange Plaza is an 815,000-sq.-ft. power center located in Middletown, N.Y. and anchored by Walmart Supercenter, Home Depot, Kohl’s, Burlington Coat Factory, Marshalls, Bed Bath and Beyond, and Staples.

Colton, Calif. -- The Hodgdon Group announced that it has completed construction of the conversion of a former Babies "R" Us building at Eastland Center in West Covina, Calif., for the opening of an Ashley Furniture HomeStore on March 15.

Hodgdon Group's HMC Construction handled all entitlements and served as the design-build contractor for the major renovation of the 42,000-sq.-ft. freestanding building. The West Covina location, in Eastland Center, represents the 15th Ashley Furniture HomeStore to be completed by the Hodgdon Group.

Amarillo, Texas — Hastings Entertainment reported that net income was approximately $1.2 million, or 15 cents per diluted share, for the fourth quarter ended Jan. 31, compared with a net loss of approximately $8.4 million, or $1.00 per diluted share, for the same period last year. Net loss was approximately $9.3 million, or $1.14 per diluted share, for the fiscal year ended Jan. 31, compared with a net loss of $17.6 million, or $2.05 per diluted share, for the fiscal year ended Jan. 31, 2012.

Dallas -- The 49th annual SPECS conference officially kicked off on Monday morning at the Hilton Anatole in Dallas with two kinds of inspiration: Greg Buzek, present of IHL Consulting Group, introduced the Retail Orphan Initiative, and U.S. Navy Seal Scott Taylor presented Afterburner Black Ops, challenging the audience of retailers in design, construction, facilities, store planning and development to use Seal techniques to run their organizations.

Minneapolis -- Target Corp. said Monday that it will open 17 southwestern Ontario, Canada store on March 19 and another four on March 28, on the heels of three successful pilot-store launches in the area.

The added slate of openings, said Target, will allow the retailer more opportunity to volume-test in advance of April grand opening dates.

Charlotte, N.C. — Harris Teeter Together in Education (TIE) on Monday donated more than $385,000 to participating TIE schools during the second of three payouts of the 2012/2013 school year, raising the program total to $18.7 million since 1998.