Discount Store

New York City -- Aldi is close to making a deal to open its first supermarket in Manhattan, Craine’s New York reported.

The German discount grocer opened its first store in New York City, in Queens, last year. According to Craine’s, Aldi is set to lease space at East River Plaza, located between 116th St. and 119 St. in Harlem. The shopper center already boasts such tenants as Target, Best Buy and the city’s first Costco.

New York City -- Marsh Supermarket will spend $60 million to build up to 10 stores and remodel or rebuild several more over the next three years, the Indianapolis Business Journal reported.

The new stores will average 40,000 sq. ft. to 60,000 sq. ft. with a strong focus on fresh fruits and vegetables and service-oriented components, according to the report.

Marsh operates of 70 namesake stores and 27 smaller-format Mainstreet Market stores. It is privately held, a portfolio company of private equity firm Sun Capital Partners.

Waynesville, N.C. -- Shopping center developer CBL & Associates Properties, based in Chattanooga, Tenn., said Friday that it has launched construction on its newest community center project Waynesville Commons, located in Waynesville, N.C.

The 127,500-sq.-ft. shopping center will be anchored by a new 85,000-sq.-ft. Belk fashion department store, which joins the existing Walmart.

San Francisco -- Gap has opened its first Banana Republic store in Russia, in Moscow's AfiMall City. In related news, the company will open its first Gap store in Belgrade, Serbia, on Friday.

“We are very proud to not only be introducing Banana Republic to Russia, but also opening our 200th franchise store,” said Stephen Sunnucks, president, international, Gap. “This is a significant landmark for our goal of growing our franchise store base to 400 by 2014.”

Gloucester, Mass. -- TradeStone Software announced that Family Dollar Stores has gone live with TradeStone's Collaborative Sourcing and Supplier Community Management solutions. The implementation was done in only 100 days.

“In my years at Family Dollar, I don't know of an application that's been up as fast as we got TradeStone up and running," said Scott Zucker, VP IT solutions, Family Dollar Stores, Matthews, N.C.

Bentonville, Ark. -- Wal-Mart Stores will introduce a holiday layaway plan effective Oct. 17 through Dec. 16. The program has a minimum layaway purchase of $50, and requires a 10% down payment. If the program is successful, Wal-Mart said it may extend it throughout the year.

When Wal-Mart phased out its previous layaway offer in September 2006, such programs had fallen out of popularity. But Sears and some merchants brought back layaways as the recession cut into spending.

Columbus, Ohio -- Developers Diversified Realty and Glimcher Realty Trust announced Wednesday that the companies have entered into an agreement to swap two assets better aligned with the other’s operating platforms and strategies. 

DDR will sell Glimcher its open-air mall, Town Center Plaza, in Kansas City, Kan., and Glimcher will sell DDR its power center, Polaris Towne Center, in Columbus, Ohio.

The transaction is expected to close in the fourth quarter of 2011.

Algonquin, Ill. -- Oak Brook, Ill.-based Inland Real Estate Corp. said Wednesday that Niko’s Lodge has leased the space formerly occupied by Barley House at Algonquin Commons in Algonquin, Ill.

Niko’s Lodge, a wilderness-themed steak and seafood restaurant, will open in the 8,824-sq.-ft. space in late October. This will be the restaurant’s second location.