REAL ESTATE

Vallarta Supermarkets opens new California store April 9

BY Dan Berthiaume

Sylmar, Calif. – A new Vallarta Supermarkets store opens in Hesperia, Calif., on April 9. The 42,000-sq.-ft. location will offer specialty departments including a bakery, full-service meat counter, fresh produce, a hot food deli (Taqueria) with in-store dining, a shuttle service and a customer service department that offers check cashing, money transfers and utility bill payments.

"We are excited to open another store in San Bernardino County,” said Tony Hernandez, director of marketing for Vallarta Supermarkets. “Along with our Victorville location, the new Hesperia store will bring much needed economic activity to the region. Our new location is creating about 230 new jobs in Hesperia.”

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REAL ESTATE

Plaza Retail REIT plans six Canadian retail projects

BY Dan Berthiaume

Fredericton, Canada — Plaza Retail REIT plans six new Canadian retail projects: four new re-developments and two new ground-up development projects. Four projects are located in Quebec, one in Atlantic Canada and one in Ontario.

In all, Plaza will be investing approximately $24 million for its share of these six new projects and will add approximately 155,000-sq.-ft. to its portfolio of retail properties (at Plaza’s ownership percentage). The Ontario project and three Quebec projects are being developed with joint venture partners.

"We are pleased to be able to continue to grow by adding high quality development and re-development projects to our portfolio that are leased to Canada’s best retailers,” said Plaza’s president and CEO Michael Zakuta. “Our ability to develop new high quality projects distinguishes us from most other public real estate entities that are competing to acquire existing or finished properties. Upon completion, these properties will further diversify our asset base and allow us to continue to grow our cash flow and deliver reliable distributions to our unitholders."

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REAL ESTATE

Urban Outfitters set to unveil new concept, Space Ninety 8

BY Marianne Wilson

New York — Urban Outfitters will unveil a new concept, Space Ninety 8, on April 4, in the hip Willliamsburg section of Brooklyn, N.Y.

The five-level space is located in a renovated warehouse and has an industrial look, complete with exposed ceilings and brick walls. The basement will house a rotating series of pop-ups, while the first floor will showcase independent designers and vendors, according to the Village Voice. The first floor will also be home to a vintage shop, called Urban Renewal.

The second and third floors will feature Urban Outfitters’ men’s and women’s collections, along with home goods. The third floor will also feature an East Coast outpost of trendy Los Angeles restaurant Gorbals (by former Top Chef winner Ilan Hall).

The fourth level will feature an outdoor extension of the restaurant and bar space, the report said.

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