REAL ESTATE

Save-A-Lot to expand in urban areas

BY CSA STAFF

Eden Prairie, Minn. Supervalu’s discount grocer Save-A-Lot unit plans to expand in urban areas, according to a Bloomberg report. The move is intended to fill in gaps left after larger chains moved to the suburbs.

About half of Save-A-Lot’s stores will ultimately be located in metropolitan areas, the report said. The expansion is still in the planning phase.

Supervalu said in January it would double the number of Save-A- Lot locations in the next five years.

“Some of the urban markets have a dearth of supermarkets that are quality grocers delivering good, nourishing food at good prices,” said Bill Shaner, president and CEO of Save-A-Lot. “We offer a good solution for that opportunity and we are very focused on that.”

Save-A-Lot has stores in Philadelphia, Cleveland and Detroit, Shaner said. The chain would likely expand into Washington, D.C., within several years, the report said.

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REAL ESTATE

Rooftop solar program awarded top honors by ICSC

BY CSA STAFF

Las Vegas Developers Diversified Realty Corp. announced that the International Council of Shopping Centers (ICSC) presented the company with the “Best-of-the-Best” award during its annual conference in Las Vegas, called RECon, for the company’s innovative rooftop solar panel program.

“Best-of-the-Best” awards honor and recognize the top examples of shopping center design and development, sustainability, marketing, and community service worldwide. Developers Diversified was awarded top honors in the marketing category.

Developers Diversified entered into a partnership last year with solar energy services provider, SunEdison, for the rights to deploy solar energy systems at over 200 shopping centers throughout the United States. Between December 2009 and February 2010, solar panel arrays were activated at Developers Diversified shopping centers in New Jersey.

The active projects in New Jersey are located at Nassau Park Pavilion in Princeton; Hamilton Marketplace in Hamilton; and Route 22 Retail Center in Union. These projects total over 143,000 sq. ft. of available roof space for solar panels and will generate approximately 1.4 million kilowatts (kWh) of solar energy in the first full year of operation. Over 20 years, the sites will generate approximately 26 million kilowatt-hours, enough energy to power over 2,400 homes for one year.

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Regency Centers wins best retail project award at Pacific Coast Builders

BY CSA STAFF

Los Angeles Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, has been honored with a Gold Nugget Award of Merit from the Pacific Coast Builders Conference (PCBC) for its Brea Marketplace shopping center in Brea, Calif. The project won the nomination in the best retail project category among other companies in the United States and Canada.

The project was redeveloped by Regency and designed by Perkowitz+Ruth Architects with completion in 2009. The Award of Merit places Regency Centers in the running for a Grand Award at the Gold Nugget Luncheon on June 10 in San Francisco.

Brea Marketplace is a property with more than 352,000 sq. ft. of retail space and one of Target’s first prototype podium stores.

“We were gratified to be selected along with Perkowitz+Ruth Architects on this extensive redevelopment project,” said John Hayes, Regency Centers’ VP construction. “During the redevelopment, we worked with all of our tenants who remained open during the two construction phases. The center’s tenant mix features national and regional retailers along with large anchor tenants including Sprouts Farmers Market and 24 Hour Fitness.”

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