REAL ESTATE

Borders Announces Location of New-Concept Store

BY CSA STAFF

Ann Arbor, Mich. Wareham, Mass., will be the location for one of the 14 new-concept stores Borders Inc. plans to open in 2008. The 25,401-sq.-ft. Wareham store will open in June at Wareham Crossing.

 In addition to an updated design, the Borders concept stores integrate expanded digital and Internet services into the customer experience.

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REAL ESTATE

Albertson’s to Close Two Locations

BY CSA STAFF

Great Falls, Mont. Albertsons Inc. is closing stores two stores in Montana, company officials said.

The Albertson’s in downtown Great Falls, Mont., is scheduled to close April 17. The decision to close the downtown store, one of three in Great Falls, was driven by the store’s performance and economics, said an Albertsons’ spokeswoman. She said the store’s 23 full- and part-time employees will be offered jobs at Albertsons’ other locations.

The downtown Albertsons building is owned by Albertsons’ parent company, Supervalu, and is for sale.

In Havre, Mont., Albertsons is selling its building to Gary & Leo’s IGA. The sale is expected to close in late April.

A store manager for Gary & Leo’s said IGA is expected to move to the larger Albertsons building in late spring or early summer.

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REAL ESTATE

New Shopping Outlet Planned

BY CSA STAFF

Grand Prairie, Texas Outlet developer Prime Retail announced Tuesday that it will begin construction on a new shopping destination this fall in the City of Grand Prairie, Texas.

The new outlet shopping center, called Prime Outlets – Grand Prairie, will feature 485,000 sq. ft. of gross leasable area, along with more than 2,700 parking spaces. The outlet is slated to open to shoppers in time for the 2009 holiday season.

The development agreement, which also includes off-site improvements, such as roadway configuration and revamped traffic patterns for the new 64-acre site, was signed on Feb. 20, 2008.

“When construction is complete, Prime Outlets – Grand Prairie will not only bring nearly 2,000 jobs to the Dallas/Fort Worth area, but a mix of designer and name brands available to shoppers at everyday savings of 25% to 65% off retail prices,” said CEO Nicholas King, Prime Retail.

Designed in an open-air architectural style environment, Prime Outlets – Grand Prairie will feature 120 outlet stores, an on-site food court, and restaurant sites surrounding the outlet center.

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