REAL ESTATE

Multiple stores to open at Stirling Bossier

BY Staff Writer

Bossier City, La. — Covington, La.-based Stirling Properties, developer and property manager of Stirling Bossier Shopping Center, in Bossier City, La., announced the addition of Old Navy, Ulta Beauty, Maurices, Mattress Firm, The Joint and GNC to the center’s tenant lineup.

The phased opening of these new locations over the next six months completes phase four of the center’s six planned phases. Old Navy is anticipated to open in early November within 15,000 sq. ft. of retail space. Ulta will celebrate its grand opening on Oct. 21 in its 10,000-sq.-ft. new store, Maurices is slated to open Oct. 22 in a 5,000-sq.-ft. space, Mattress Firm’s 5,000-sq.-ft. store is planned for a mid-to-late November opening, The Joint chiropractic center will open a 1,200-sq.-ft. center in early 2012, and GNC will also open early 2012 adjacent to The Joint in 1,200 sq. ft. of space.

To date, 28 retail, service and restaurant tenants are already in operation at Stirling Bossier which officially opened in July 2007 with Target as the anchor.

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REAL ESTATE

Edens & Avant announces refinancing of unsecured revolving credit facilities

BY Staff Writer

Columbia, S.C. — Edens & Avant announced Tuesday that it has closed on the refinancing of its $350 million unsecured revolving credit facility and $30 million unsecured working capital line.

Both will mature in September 2014, but include two, one-year extensions that could extend both facilities through September 2016.

“Edens & Avant remains committed to preserving a conservative, flexible balance sheet that enables us to focus on operations and strategic, community focused investment opportunities,” said Mark Garside, managing director of Edens & Avant. “The closing of these facilities advances our balance sheet strategy while lowering our overall cost of capital.”

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News

PetSmart raises guidance ahead of analyst presentation

BY CSA STAFF

PHOENIX — Ahead of its analyst and investor presentation Thursday, PetSmart announced that it is raising its third quarter guidance.

The company said it now expects earnings per share for the third quarter to range from46 cents to 48 cents. Initial guidance called for an EPS range of 41 cents to 45 cents. For the full year, earnings per share guidance is increasing to $2.46 to $2.52 from a previous range of $2.40 to $2.48.

"Our focus is on providing our pet parents with the right solutions through our broad assortment and unmatched customer experience, all at a great value," said Bob Moran, president and CEO. "The favorable momentum in our business is the result of our differentiation, which is at the core of our brand and sets us apart from the competition."

Chip Molloy, SVP and CFO PetSmart added that comparable-store sales for the third quarter are expected to increase between 5.5% to 6%, compared witha previous range of 3 – 4%.”

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