REAL ESTATE

San Francisco -- X Team International, an international alliance of retail real estate advisors, announced the election of John Cumbelich as its new president and Clay Mote and David Larson as new board members.

Exiting president is Nelson Wheeler of Strategic Retail Advisors-California.

Laguna Hills, Calif. -- The Hodgdon Group announced that it has completed the entitlements and has launched construction on the renovation and expansion of a former Circuit City building located in Laguna Hills, Calif. The former Circuit City will be expanded to make way for a fully remodeled 51,000-sq.-ft. retail building to include a 33,000-sq.-ft. Ashley Furniture HomeStore, and a 4,000-sq.-ft. Chick-fil-A restaurant with drive-thru on an outparcel. 

Pittsburgh --- Dick’s Sporting Goods will open a store in Conway, Ark., on Oct. 19. It will be the retailer's second store in the state of Arkansas.

On Oct. 20, Dick’s will open a store in Hattiesburg, Miss. It will be the retailer's fifth location in the state of Mississippi and its 469th nationwide.
 

New York City -- Wegmans Food Markets has opened its first location in Massachusetts, in the town of Northborough. The 138,000-sq.-ft. store, the largest supermarket in New England, has a warm, welcoming feel.

Mooresville, N.C. -- Lowe's Cos.  announced Monday it will open 10 to 15 stores annually in North America from 2012 forward, down from its prior target of 30 stores, and will close 20 underperforming locations. The chain is on track to open 25 stores as planned in 2011.

The stores scheduled to be closed are in 15 states, ranging from California to Maine. The closings will impact some 1,950 employees.

Beachwood, Ohio -- DDR Corp. said Monday it will redevelop four shopping centers in Puerto Rico — Plaza del Sol and Rexville Plaza in Bayamon, Plaza del Norte in Hatillo and Plaza Escorial in Carolina. Total investment is more than $50 million.

Playa Vista, Calif. -- GoldMax USA, which specializes in buying gold and precious metals from consumers in the United States, announced it has surpassed the 20th store milestone in Southern California with the opening of two more Los Angeles County stores. According to GoldMax co-founders Scott Garber and Jordan Sadoff, the company wants to have 100 stores in Southern California by end of 2012.