REAL ESTATE

Petco opens first Mexico store

BY Dan Berthiaume

San Diego – Petco has opened its first store in Mexico and announced plans for continued expansion in Mexico and Latin America through a previously announced joint venture with Grupo Gigante of Mexico. Together, the companies plan to open as many as 50 Petco stores in Mexico and Latin America by 2020.

“For nearly 50 years, Petco has been a leader in providing pet lovers with the products, services and advice they need to help their pets live happy, healthy lives, and we’re excited to begin serving pet parents in Mexico and Latin America," said Petco CEO Jim Myers."We believe our pet specialty expertise, combined with Grupo Gigante’s strong knowledge and track record in Latin America, will be a powerful combination that will further drive our growth."

Grupo Gigante has business operations with Office Depot de México (office supplies), The Home Store (home & fashion stores), Gigante Grupo Inmobiliario (real estate management and project development), The Cup Stop (coffee shop express service), Restaurantes Toks (family restaurants), and Aling Pro (software and business management solutions. Terms of the joint venture were not disclosed.

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REAL ESTATE

Altman Companies to build mixed-use development in Florida

BY Dan Berthiaume

Boca Raton, Fla. – The Altman Companies has closed on 10 acres in the Westchase area of Tampa, Fla., with close proximity to downtown and Clearwater. Construction on the 239-unit mixed-use Altis at Highland Park rental community is scheduled to start right away with first units to be delivered in July 2014.

The community will feature a mix of 239 apartments and 5,000 sq. ft. of retail space. Lender for the development is PNC Bank.

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STORE SPACES

World’s largest Disney Store to open in Shanghai, China

BY Marianne Wilson

Shanghai, China — The Walt Disney Co. announced plans to open its first store in mainland China, in Shanghai. The 53,000-sq.-ft. Disney Store, expected to open in early 2015, will be the company’s largest store to date.

The store will be located in Shanghai’s financial hub. It will feature an approximate 10,800-sq.-ft. retail space, and a Disney-themed outdoor plaza area that can be used to host outdoor events. The surrounding area has foot traffic of more than 40 million visitors a year.

The interior of the store will be designed using Disney’s store format. Featuring cutting-edge technologies, customers will be able to interact with their favorite characters and stories from across Disney, Pixar, Marvel and Star Wars.

"We are enormously proud to be building Disney’s largest store in the world in China," said Stanley Cheung, executive VP and managing director, The Walt Disney Company, Greater China. "Disney has combined the retail concept with storytelling, fun and innovation and will provide families with a uniquely immersive entertainment destination featuring our best-loved stories and characters,"

Disney is on track to open its first Disney resort in mainland China by the end of 2015. It already operates a theme park in Hong Kong.

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