REAL ESTATE

Family Dollar enters California

BY Staff Writer

Matthews, N.C. — Family Dollar has entered the state of California, opening four stores, in Ontario, Rialto, Riverside and Fontana.

The discounter plans to open 450-500 new stores in fiscal 2012.

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REAL ESTATE

H-E-B opens holiday toy stores

BY Katherine Boccaccio

San Antonio, Texas — A Friday report in the San Antonio Express News said that grocer H-E-B has opened its Toyland mall-based stores for the second year in a row.

The seasonal toy and entertainment concept – which sells no groceries – is called H-E-B Toyland and is currently open at Rolling Oaks Mall (San Antonio), the San Marcos (Texas) Premium Outlets, and in Corpus Christi, Texas, until Jan. 15.

“We’re always trying to innovate around retail to see what we can do that’s different and better and that better serves our customers,” Dya Campos, an H-E-B spokeswoman, told the newspaper.

At Rolling Oaks Mall, the 2,600-sq.-ft. H-E-B Toyland is the only toy store in the shopping center.

The grocer has yet to announce any ongoing rollout plans for the concept.

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REAL ESTATE

GGP, Kimco form JV to redevelop Owings Mills Mall

BY Staff Writer

Owings Mills, Md. — Chicago-based General Growth Properties and Hyde Park, N.Y.-based Kimco Realty Corp. said Thursday that the two companies have formed a joint venture partnership to redevelop Owings Mills Mall, Md.

The new JV gives each company 50% interest in the 25-year-old, 1 million-sq.-ft. mall; GGP previously owned 100%.

"We’re exploring a number of options to revive Owings Mills Mall and provide the shoppers of northwest Baltimore County a more viable center that meets their needs,” said Shobi Khan, COO, GGP.

Macy’s and J.C. Penney anchor the two-level enclosed regional mall. Preliminary redevelopment and renovation plans call for a new format and tenant mix, which could include exterior facing retail, junior boxes, big boxes and department stores.

"Owings Mills Mall presents a wonderful value creation opportunity in one of our core markets. We are very excited about the chance to partner with GGP in transforming this property into a vibrant shopping center its residents need and want," said Mike Pappagallo, COO, Kimco Realty.

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