Margaux Development is expected to break ground on the $12 million Plaza del Oro in Cockrell Hill, Texas, on July 1. The 103,500-square-foot center will be anchored by a Centennial Fine Wine & Spirits.
Linens Holding Co., which operates Linens 'n Things, plans to close 120 underperforming stores and dispose of the associated real estate. The company retained DJM Realty, a national retail real estate disposition firm, to manage the disposition, which is part of the company's restructuring.
Rivercrest Realty Investors has acquired the Hanes Commons Shopping Center in Winston-Salem, N.C., from Hanes Commons LLC for $24.3 million. The 152,000-square-foot center includes Payless Shoes and Vandy Jewelers.
Sears Holdings is experimenting with a new format it hopes will help its Kmart brand achieve a turnaround. Two test stores have been built in relatively obscure Illinois locations as part of a cautious strategy to determine whether a makeover will work.