REAL ESTATE

RMC to redevelop Largo, Fla., Publix-anchored center

BY Michael Fickes

Tampa, Fla. — RMC Property Group has announced plans to redevelop the Publix-anchored Indian Rocks Shopping Center in Largo, Fla. Bealls Outlet and Dollar Tree also serve as co-anchors at the center.

Publix recently signed a new lease and plans to completely redevelop a 45,000-sq.-ft. store. The existing Publix closed in December 2013. Plans call for the redeveloped store to open this fall.

The redevelopment of the center itself will occur in phases designed to enable all businesses operating in the center to remain open during construction.

Redevelopment plans include a new façade, parking field enhancements, new monument signage and an additional 3,000 sq. ft. of leasable inline space. The center is currently fully leased and the new retail sq. ft. will create the first new direct leasing opportunity in several years.

Campo Engineering and Fisher & Associates are handling the engineering and architectural work for the project.

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REAL ESTATE

Roundabout takes third Manhattan location

BY Michael Fickes

New York — Faith Hope Consolo, chairman, and Joseph A. Aquino, executive VP of Douglas Elliman’s Retail Group, have arranged a third Manhattan location for Roundabout, a luxury consignment and resale retailer.

The new location between 82nd and 83rd Streets is also the brand’s second Madison Avenue store.

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FINANCE

J.C. Penney ‘pleased’ with holiday performance, but offers no sales data

BY Dan Berthiaume

Plano, Texas — J.C. Penney issued a brief statement on Wednesday saying that it was "pleased” with its performance for the holiday selling period, and reaffirmed its fourth quarter fiscal 2013 guidance for increased same-store sales. But the retailer did not provide any specific sales data.

“J.C. Penney reported today that the company is pleased with its performance for the holiday period, showing continued progress in its turnaround efforts,” the statement said. “Customers responded well to the company’s offerings this holiday shopping season, both in store and online.”

Early reports indicate Penney share prices are sliding in response to the company not releasing any specific financial figures for its holiday performance. Numerous media reports also indicate that industry analysts have doubts about Penney’s long-term viability.

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