REAL ESTATE

Saks to close Denver store

BY CSA STAFF

New York City — Saks on Wednesday announced it plans to close its Saks Fifth Avenue store located in the Cherry Creek Mall in Denver, Colo., on March 19. With the closing, the company will have closed seven Saks Fifth Avenue stores since July 2010.

Steve Sadove, chairman and CEO of Saks, commented: “We routinely assess the productivity, profitability, and potential for each store in our portfolio and may conclude a closing is appropriate from time to time. Our strategy is to deploy our resources in our most productive stores and to close underperforming stores, when feasible.”

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REAL ESTATE

Shaw’s Supermarkets to close five underperforming locations

BY CSA STAFF

West Bridgewater, Mass. — Shaw’s Supermarkets has announced that it will close five unprofitable stores in Massachusetts and Rhode Island by the middle of next month.

The company said in a statement that it decided "only after careful evaluation" to close the stores. The Massachusetts stores are in New Bedford, Stoneham and Revere. The Rhode Island locations are in Johnston, and on Bald Hill Road in Warwick.

The stores will be closed by Feb. 17.

The statement said the closings are the result of "the competitive markets we operate in, and today’s difficult economic environment."

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REAL ESTATE

Family Dollar opens at Brice Park

BY CSA STAFF

Reynoldsburg, Ohio — Centro Properties Group announced that a 15,426-sq.-ft. Family Dollar recently opened at Brice Park, in Reynoldsburg, Ohio.

Centro Properties Group, based in New York City, is the owner of Brice Park.

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