REAL ESTATE

Kite Realty Group completes five deals in South Florida

BY CSA STAFF

Pembroke Pines, Fla. — Indianapolis-based Kite Realty Group said Thursday that five new tenants will open at Cobblestone Plaza, located in Pembroke Pines, Fla.

The center is anchored by Whole Foods, All Pets Emporium and Party City.

The new tenants, all of which are slated to open fall 2011, include Russo’s Coal Fire Italian Kitchen & Pizzeria for 3,334 sq. ft., Mattress Firm for 3,150 sq. ft., Menchie’s Frozen Yogurt for 1,737 sq. ft., Pines Injury Chiropractic Center for 3,200 sq. ft. and Orange Theory Fitness for 2,600 sq. ft.

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News

Walmart raises dividend

BY CSA STAFF

BENTONVILLE, Ark. — Walmart said Thursday that it is increasing its annual dividend 21% on the back of strong earnings.

The retailer last month reported a 27% increase in fourth-quarter net income as it benefited from cost-cutting and strong international sales. Walmart said it will pay an annual dividend this year of $1.46, up from $1.21. It will pay quarterly dividends of 36.5 cents in April, June, September and January in fiscal 2012, which ends Jan. 31.

The next dividend will be paid on April 4 to shareholders of record on March 11.

Walmart president and CEO Mike Duke said the company was able to boost its dividend because of its earnings performance in fiscal 2011 and its strong financial position.

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REAL ESTATE

Lush Joins Cherry Hill Mall’s roster of market debuts

BY CSA STAFF

Cherry Hill, N.J. — Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) announced that cosmetics retailer Lush will open a new store at Cherry Hill Mall, in Cherry Hill, N.J.

The new 860-sq.-ft. store is located in the Macy’s wing of the mall.

Cherry Hill Mall has also welcomed 77kids by American Eagle, Bare Escentuals, Buckle, The Disney Store, Francesca’s Collections, Guess, Guess by Marciano, and White House Black Market in 2010 and Red Mango in 2011, reinforcing the center’s position as the top South Jersey fashion and dining destination.

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