Shorenstein Properties plans to invest roughly $20 million to upgrade Center Plaza in Boston, including by improving the location's open-air pedestrian walkway. The location will soon feature more locally owned restaurants and high-end shops, Shorenstein's Kevin Kuzemchak said.
After testing its new name at five stores, Garden Ridge -- now, At Home -- will spend $20 million this year to roll out its new branding to all 71 locations in time for the holiday shopping season. The new stores feature a new color scheme of gray, teal and white to better differentiate them from competitors. At Home plans to open 200 stores by the end of the decade, and could open more than 500, said CEO Lee Bird.
Part of WinCo Foods' push to expand in the Dallas area includes the redevelopment of an aging grocery-anchored center in the Lewisville submarket for $20 million. A portion of Old Orchard Village East will be demolished and an 85,000-square-foot grocery store built in its place to anchor the 226,000-square-foot retail center.
DDR plans to redevelop four shopping centers with Wal-Mart serving as an anchor. At two retail centers in Florida, Wal-Mart will build or acquire anchor space at DDR properties. At DDR's retail centers in Boardman, Ohio, and Humacao, Puerto Rico, Wal-Mart will expand its presence. DDR is investing $20 million in the projects and expects to realize a net return of greater than 10%.