REAL ESTATE

Walmart to anchor power center on 13.5 acres on Chicago’s South Side

BY CSA STAFF

Chicago — Jones Lang LaSalle said Monday that, on behalf of Monroe Investment Partners LLC, it has closed the sale of a 13.5-acre parcel on Chicago’s South Side to Walmart, which purchased the shovel-ready pad in the Chatham Market shopping center to build a 155,000-sq.-ft. supercenter.

This will be the first of six new full-scale stores Walmart has announced it plans to build in the City of Chicago.

Walmart has also leased an existing 10,000-sq.-ft. building at Chatham Market for a Walmart Express store — a convenience grocery concept that will also be the first of its kind in Chicago.

Chatham Market is a 450,000-sq.-ft. shopping center currently tenanted by Lowe’s Home Improvement, Potbelly’s Sandwich Shop, and an Aldi grocery store that is under construction and slated to open June 1.

Construction of the supercenter is expected to get underway by late-April and the store is scheduled to open by the end of 2011 or early 2012.

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FINANCE

Tuesday Morning sales edge up in Q3, to end year with up to 13 more stores

BY CSA STAFF

Dallas — Tuesday Morning Corp. reported Tuesday that sales for the quarter ended March 31 rose 1.3% to $174.3 million, compared with $172 million in the year-ago period.

Same-store sales edged up 0.7%, as traffic dipped 3.2% and average ticket increased 3.9%.

The retailer said it expects capital expenditures of $19 million and to end the fiscal year with 10 to 13 more stores than at the end of the previous year.

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OPERATIONS

Finish Line e-commerce head to retire

BY CSA STAFF

Indianapolis — Finish Line said Monday that the president of its e-commerce division will retire.

Don Courtney will depart following a transition period, remaining in his current role during the retailer’s search for his successor.

“E-commerce is a growing and vital part of our business,” said Finish Line chairman and CEO Glenn Lyon. “Don led the development of our website from its inception and he and his team have innovated and helped e-commerce become one of the fastest-growing and important parts of our business.”

Courtney was named to his current position in 2009.

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