Dallas-based Archon Group broke ground Feb. 16 on Alamo Ranch Marketplace in San Antonio. The 900,000- sq.-ft. power center will include three major anchors, 10 junior anchors and 16 outparcels. It is slated to open in summer 2008. … Business Condos USA, Jacksonville, Fla., will develop 14 acres of land in Middleburg, Fla., as The Shoppes of Mayfield and Mayfield Business Center. The project will include 80,000 sq. ft. of retail and 64,800 sq. ft. of office and warehouse. … Construction of Carriage Crossing MarketPlace in Collierville, Tenn., began in March 2007 and is expected to be completed in 12 months. The 184,000-sq.-ft. power center, located across the street from The Avenue Carriage Crossing, co-developed by Jim Wilson &Associates ,Montgomery, Ala., and Cousins Properties, Atlanta, is being designed by Birmingham, Ala.-based CMH Architects and developed by Jim Wilson & Associates.
Chattanooga, Tenn.- based CBL & Associates Properties has announced major renovation plans for Mall del Norte in Laredo, Texas. The renovations, which began in February and are slated for November 2007 completion, will bring major design improvements to the interior as well as to the exterior entries of the 1.2 million-sq.-ft. superregional shopping center. … Jacksonville, Fla.-based Regency Centers purchased three former Mervyn’s properties in Washington and Oregon, with plans to remodel and retenant each of the approximately seven-acre sites. One, at Tanasbourne Towne Center in Hillsboro, Ore., will be anchored by Whole Foods Markets.
The Sembler Co., St. Petersburg, Fla., received the 2006 “Mixed-Use Deal of the Year” award from the Atlanta Business Chronicle in its annual “Best in Atlanta Real Estate Awards,” for Sembler’s recently completed Lindbergh Plaza project in Atlanta’s Buckhead community.
Finish Line 4Q Profit Narrows
Indianapolis, Finish Line said Thursday the company earned $21.1 million in its fourth quarter, compared with profit of $28.1 million during the same period a year prior. Revenue rose to $429 million from $399.2 million.
Expenses for the quarter rose to $93.9 million from $85.1 million. The company also saw an asset impairment charge of $7.5 million compared with $2.5 million a year ago. Comp-store sales fell 5.4% during the quarter.
For the full year, the company earned $32.4 million.
Sharper Image, OfficeMax Partner
San Francisco, Sharper Image has announced a multi-year licensing agreement with OfficeMax. The agreement with OfficeMax is the first to be announced by Sharper Image’s newly created brand licensing division.
Under the agreement, OfficeMax will offer Sharper Image branded office furniture and accessories made exclusively for OfficeMax under the Sharper Image Office brand. Products will include desks, chairs, shredders, desk sets, accessories and related items. The first product collection is currently rolling out into OfficeMax stores, with additional collections to debut throughout and beyond 2007.