Arlington, Texas — Weitzman’s management division will soon begin the redevelopment of Fielder Plaza, a 157,575-square-foot retail center in Arlington, Texas. The project will include a remodeling of the interior of the 52,000-square-foot anchor space occupied by grocer Tom Thumb, as well as a complete remodeling of the property’s exterior elements. The center, which is home to other tenants such as CVS, Starbucks, Pet Supermarket, Mathnasium, Edible Arrangements and Batteries Plus, opened in 1978. The architect for the remodel is Hodges & Associates. — Taylor Williams
retailers
San Francisco — Gap Inc. will close approximately 230 Gap specialty stores within the next 2 years, the San Francisco-based apparel chain announced in its fourth-quarter and 2018 fiscal year reports, released on February 28, 2019. Gap Inc. also revealed plans to spin off Old Navy, a brand it established in 1994, into a separate publicly traded entity, as well as to rebrand itself under a yet-to-be-determined name.
Irving, Texas — The Michaels Companies, Inc. has appointed seasoned retail executive Mark S. Cosby as interim CEO and board member, effective February 28, 2019. He succeeds Chuck Rubin, who has mutually agreed with the board to transition from CEO but continue as chairman of the board until April 1, 2019. The board has initiated a search to identify a permanent CEO.
Atlanta — RaceTrac, one of America’s leading retail, fuel and convenience store destinations, has launched its new franchise program. RT Franchising, Inc. currently has franchise opportunities in the Central Florida cities of Clermont, Mt. Dora and DeLand. RaceTrac has more than 170 locations in Florida.
Topeka, Kan. — Payless ShoeSource will close all 2,100 of its stores in the United States and Puerto Rico as it moves toward liquidation. According to a statement by the company provided to USA Today, which first reported the news on Feb. 15, Payless expects all stores to remain open through March.
Atlanta — SRS Real Estate Partners has brokered two new leases for Hobby Lobby in empty Toys”R”Us and Babies”R”Us stores in greater Atlanta. The first location, the former Toys”R”Us/Babies”R”Us in the Akers Mill Shopping Center in Atlanta, is 58,907 square feet. The second location is in the North Point Market Center in Alpharetta. This location spans 50,275 square feet.
Manhattan Beach, Calif. — Skechers USA, Inc., a global footwear leader, has tripled its retail store presence in 5 years and has surpassed the 3,000-store mark with the opening of its new superstore in Shenyang, China — now the brand’s largest store at more than 32,000 square feet.