REAL ESTATE

New tenants slated to open at Shoppes at Oberlin Court

BY CSA STAFF

Raleigh, N.C. — Charlotte, N.C.-based Crosland announced that several new tenants will open at The Shoppes at Oberlin Court mixed-use development in Raleigh, N.C.

Gigi’s Cupcakes is slated to open a 1,579-sq.-ft. location in December, Edible Arrangements will open a 1,300-sq.-ft. store, also in December, and Oberlin Nails & Spa has opened a 1,198-sq.-ft. salon.

In related news, ABC Store purchased an outparcel at McCrimmon Corners, in Morrisville, N.C., in early October. The 5,058-sq.-ft. store will sit on .87 acres and is expected to open in late spring 2011.

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REAL ESTATE

Developers Diversified announces six new locations for Five Below

BY CSA STAFF

New York City — Developers Diversified Corp. announced the introduction of six new locations for teen fave Five Below in 2010. The stores were opened in Ohio; New Jersey; North Carolina; and New York.

Five Below currently operates over 100 discount stores across the country and intends to double its store count by the end of 2011 through a massive expansion spree.

The stores offer items for teens and pre-teens at an affordable price range of $1 to $5. The product portfolio includes an assortment of trendy merchandise such as fashion accessories, bath and body, room decor and storage, candy and beverages, stationery and school supplies, books, DVDs, iPhone accessories, sports, games and seasonal items.

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Nordstrom Rack to open in Tigard, Ore.

BY CSA STAFF

Seattle — Nordstrom plans to open a new Rack discount store next fall in the Portland suburb of Tigard, Ore.

The retailer said the new 45,000-sq.-ft. t store will open in Cascade Plaza in Tigard, about a mile away from a full-line Nordstrom store in the Washington Square shopping center.

Cascade Plaza is a mixed-use center that includes 130,000 sq.-ft. of retail space and 200,000 sq.-ft. of office space. The center’s retail mix also includes David’s Bridal, Burlington Coat Factory, Ross and Best Buy. Cascade Plaza is owned and operated by Harsch Investment Properties.

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