REAL ESTATE

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.

New York City -- Videogame maker Electronic Arts has entered the retail arena, opening the EA Sports Experience store, at the Charlotte Douglas International airport, Charlotte, N.C. It will open two additional U.S. airport locations by the end of 2011.

The store sells EA Sports’ games and branded apparel, as well as gear from local sports teams. It features televisions with live sports programming, comfortable seating and electrical outlets to charge portable devices. Customers can also play their favorite EA Sports video games.

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.”

Washington, D.C. -- Grosvenor Americas said Wednesday it has appointed Jonathan E. Carr to the position of development manager in the company’s Washington, D.C., office. He previously held the same title in Grosvenor Americas’ San Francisco office.

The company also announced that Michael Ward has been appointed to the position of VP in the company’s Calgary office. He previously served as VP for Grosvenor Americas in Washington, D.C.
 

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.

New York — Starbucks plans to triple the number of outlets it has in China during the next four years, the Associated Press reported.

The company expects to increase the number of shops in China from 470 now to 1,500 by 2015, Asia-Pacific President Wang Jinlong said on Tuesday.

Starbucks also plans to open 700 shops in South Korea by 2016, up from 370 now, the report said.

Columbus, Ohio -- Casto said Wednesday that Larry Schwenker has joined the firm as VP property management.

Schwenker’s primary focus will be on the organization’s Midwest and Alabama commercial portfolio, which totals approximately 15 million sq. ft.

Schwenker was most recently a principal at Bryant Management Services, based in Atlanta.
 

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.