Convenience Stores

Pleasanton, Calif. -- Safeway reported Thursday net income of $229.6 million for the quarter ended Jan. 1, compared with a loss of $1.61 billion in the year-ago period, based on a hefty charge for the reduced value of its assets.

The grocery chain said revenue inched up 1% to $12.8 billion from $12.69 billion, topping Wall Street estimates of $12.45 billion.

Members shopped Sam’s Club more often and spent more on each trip during the fourth quarter, propelling Sam’s to a 2.7% same-store sales increase, while operating profits were flat. The forecast for the first quarter calls for same-store sales to increase between 1% and 3%.

PLEASANTON, Calif. — Safeway surprised analysts Thursday morning with fourth-quarter earnings per share of 62 cents, well above a consensus of 57 cents among analysts.

Total sales were up 0.9% to $12.8 billion in the fourth quarter. Higher fuel sales and an increase in the Canadian exchange rate were offset by reduced sales due to store closures and a 0.8% decline in identical-store sales, excluding fuel, the grocer reported. Same-store sales, excluding fuel, declined 0.5%. Fuel sales rose 23%.

Miami Beach, Fla. -- Joint venture affiliates of Terranova Corp. and Acadia Realty Trust announced they have closed on the acquisition of three Lincoln Road properties in Miami Beach, Fla.

The approximately $52 million deal adds just over 61,000 sq. ft. to their urban street-front retail portfolios.

Current tenants at the properties include Starbucks, Geox Shoes, and Zagat-rated restaurants Sushi Samba Dromo and Tacontento. Terranova will manage and lease the Lincoln Road properties.

Schaumburg, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that Panda Express signed a lease for 2,400 sq. ft. of space at Scharrington Square in Schaumburg, Ill., a northwest suburb of Chicago.

Panda Express is slated to open this summer.

Renewing leases at the 187,812-sq.-ft. Scharrington Square are anchor Jewel/Osco for 64,925 sq. ft. of space, and Panera Bread for 4,500 sq. ft. of space, which has plans to add a drive-through service.

Wake Forest, N.C. -- Jacksonville, Fla.-based Regency Centers announced the opening of the anchor tenant, Harris Teeter, for Harris Crossing located in Wake Forest, N.C. Harris Teeter will operate a 53,282-sq.-ft. store.  

Together with partner WelCor Development, Regency closed on the purchase of 15 acres of undeveloped land in 2008 in order to build the 65,150-sq.-ft. neighborhood center which includes 12,150 sq. ft. of small shop space and three outparcels.

Vienna, Va. -- Jacksonville, Fla.-based Regency Centers said it has named Jack deVilliers as leasing agent in Baltimore, Maryland and the New England area. 

deVilliers will be responsible for leasing 13 operating properties, totaling 1.8 million sq. ft., in Maryland, Washington, D.C., Connecticut and Massachusetts.

Previously, deVilliers served as a retail leasing associate for commercial real estate broker KLNB Retail, handling tenant and landlord representation of new retail development projects.

Wayne, N.J. -- Fameco Real Estate, LP, said it has been named exclusive leasing agent for Plaza Square, located in Wayne, N.J.

Owned by Regency Centers, Plaza Square is a 103,842-sq.-ft. shopping center anchored by Shop Rite, and also tenanted by Bank of America and Wendy’s.