Regency Centers acquires grocery-anchored shopping center
Charlotte, N.C. Jacksonville, Fla.-based Regency Centers announced it has, along with its co-investment partner, purchased Providence Commons, a 191,300-sq.-ft. neighborhood center anchored by Harris Teeter, from Providence Road West Development Co.
Providence Commons also features Lowe’s Home Improvement and Rite-Aid.
“The addition of Providence Commons supports Regency’s plans for continued growth in Charlotte and the region,” said Regency Centers’ Chris Widmayer, VP investments. “Over the next five years, Regency expects to invest more than $1 billion in Class A shopping centers like Providence Commons and other well-positioned value-add opportunities.”
Providence Commons will be Regency’s third shopping center in the Charlotte market. Regency also owns Carmel Commons and Cochran Commons.
Lowe’s announces first store in Saskatchewan
Toronto Lowe’s Cos. Canada announced the location of its first store in Saskatchewan. The store is expected to open in the company’s fiscal first quarter of 2011. Lowe’s currently has 16 stores in Canada.
“Lowe’s commitment to expanding throughout Western Canada continues with our first location in Saskatchewan,” said Alan Huggins, president, Lowe’s Canada.
Destination Maternity to open store in Dubai
Philadelphia Destination Maternity Corp. will open a store in Dubai.
The company said it will open a store in Mirdiff City Center, a new mall with other clothing stores including Zara and H&M.
This is the third store Destination Maternity has opened through its franchisee, Multi Trend, a member of the Al Homaizi Group. Others have been in Kuwait.