REAL ESTATE

DDR and Target launch redevelopment projects in San Antonio and Denver

BY CSA STAFF

Beachwood, Ohio — Shopping center owner and developer Developers Diversified Realty Corp. said Wednesday it will raze Terrell Plaza shopping center in San Antonio, Texas, and an existing two-story enclosed mall at Tamarac Square in Denver, Colo., to accommodate Target Corp.’s construction of two new stores.

DDR said it intends to redevelop adjacent retail space at both centers.

"The redevelopment of two non-income producing assets into prime shopping centers is a perfect example of the continued execution of our redevelopment strategy. We anticipate many similar projects to commence as we focus on redevelopment as a driver of corporate growth," said Paul Freddo, senior executive VP of leasing & development for DDR.

Terrell Plaza, when redeveloped, will feature approximately 90,000 sq. ft. of value-oriented junior anchor retail space in addition to the new 138,000-sq.-ft. Target.

Upon completion, Tamarac Square will include a 135,000-sq.-ft. Target store and an adjacent renovated 33,000-sq.-ft. convenience center.

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REAL ESTATE

Edible Arrangements to open 150 locations in 2011

BY CSA STAFF

Wallingford, Conn. — Edible Arrangements announced on Tuesday aggressive expansion plans, with the goal of opening 150 new locations in 2011, and 200 additional locations in 2012.

During the next several weeks, 19 stores are scheduled to open in 10 states and two Canadian Provinces.

Additionally, two international locations are expected to open soon in Saudi Arabia and another in Oman. Currently, Edible Arrangements has over 934 open locations, including in 10 countries outside the United States and Puerto Rico.

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REAL ESTATE

Publix to close all 40 Little Clinic in-store units

BY CSA STAFF

St. Petersburg, Fla. — Publix Super Markets said Tuesday it is closing all 40 of its Little Clinics – in-store mini-clinics offering minor medical treatments – after five years in operation.

According to an item in the St. Petersburg Times, 10 of the 12 locations in the Tampa Bay area have closed, and the remainder will be closed on yet-to-be-determined dates.

The report said that private equity firm Solera Capital, which sold the rest of its Little Clinic network in other states to Kroger last year, is exploring its next step for Florida. Publix decided to terminate the leases to "focus on its core food and pharmacy" businesses.

"We have not decided how to use the space," Publix spokeswoman Shannon Patten told the newspaper.

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