REAL ESTATE

California Gov. Brown vetoes big-box legislation

BY Marianne Wilson

New York City — Gov. Jerry Brown of California vetoed a bill that would have required comprehensive economic-impact reports before big-box superstores could begin construction.

The bill, the Small and Neighborhood Business Protection Act, would have required supercenters to address more than a dozen possible economic side-effects, including job losses if competitors faltered.

“While I recognize that the merits of large-scale projects need to be carefully considered, plenty of laws are already on the books that enable and in some cases require cities and counties to carefully assess whether these projects are in a community’s best interests,” Brown said in a veto message Monday. “This bill would add yet another layer of review to an already cumbersome process.”

The bill would have covered superstores of more than 90,000 sq. ft. that dedicate 10% of that space to nontaxable items such as groceries and prescription drugs.

In a statement Monday, Walmart said the veto “helps restore confidence in our state’s economic future, especially during a time we should all be working together to create economic development opportunities for our communities.”

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REAL ESTATE

Save-A-Lot to anchor Cleveland redevelopment

BY Staff Writer

Cleveland — CenterMark Development LLC announced that Save-A-Lot Food Stores, along with the Ohio debut of discount apparel retailer Forman Mills, will anchor The Shops at Garrett Square. The 65,000-sq.-ft. project is the first phase of a neighborhood revitalization plan envisioned by city officials seven years ago, and plans call for subsequent development of up to two more retail outlots targeting much‐needed retail uses.

CenterMark said it expects to complete its $1.3 million rehabilitation and turn over the retail spaces to tenants in December in order for them to tailor their interior improvements. Grand opening is expected in spring 2012.

“As a value‐minded neighborhood grocer, Save‐A‐Lot is pleased to be part of this neighborhood revitalization project by bringing a new grocery store and more than 20 new jobs to this community,” said Chon Tomlin, external communications manager for Save‐A‐Lot.

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Two new retail leases signed for Diablo Plaza

BY Staff Writer

San Ramon, Calif. — Jacksonville, Fla.-based Regency Centers said that two new tenants have leased space at Diablo Plaza, located in San Ramon, Calif.

Beverages & more! leased 12,015 sq. ft. and is slated to open this fall. Another new addition, West Coast Gold Buyers, leased 1,300 sq. ft. and is now open.

The 63,265-sq.-ft. center includes national retailers such as Safeway, CVS/pharmacy, Verizon Wireless and McDonald’s.

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