REAL ESTATE

  • Re-Inventing Power Centers

    Across America, big-box centers are powering back up

    Power centers have proven themselves to be a resilient asset class in recent years. First the recession cut into business. Then e-commerce leveled some of their big-box tenants, hurt others and ignited a downsizing trend.

    Yet research from Washington, D.C.-based CoStar Group shows that only 2% of power centers have vacancy rates of 40% or higher and probably won’t recover. Another 6% have vacancy rates of 20% to 40% and are in serious condition but may recover.

  • Fairway Markets plans New York store

    New York - Fairway Group Holdings Corp., the parent company of Fairway Market, is opening a 65,000-sq.-ft. store in Nanuet, N.Y., on Oct. 10.

    "We're excited to make our newest home at this premier shopping destination in Nanuet and are also very pleased to be creating more than 300 new jobs in the area," said Charles Santoro, Fairway Market's executive chairman.

  • Wolverine opens first retail store

    New York -- Wolverine has opened its first permanent store, in New York City’s Nolita neighborhood.

    The store follows a successful pop-up the brand launched last fall. The brand; new location follows the successful New York pop-up venture in fall 2012, and will again offer a curated selection of goods that share Wolverine's commitment to quality, heritage and craftsmanship.

  • Teva opens first retail store

    Goleta, Calif. -- Teva has opened its first retail location, at Orlando Premium Outlets, in Orlando, Fla. The store features footwear for travel and everyday adventure, from sandals and trail shoes to sneakers, boots, and water shoes.  

  • Premium Outlets Montreal break ground

    Montreal — Simon Property Group, SmartCentres and Calloway REIT hosted a groundbreaking ceremony on Oct. 2 to begin construction of Premium Outlets Montreal, the second Premium Outlet Center in Canada.

  • Just Salad leases space in Hudson Square

    New York — Just Salad has leased a 1,434 sq. ft. ground floor space at 325 Hudson Street, a 10-store, 240,000-sq.-ft. building in the heart of New York City’s Hudson Square.

    New Street Realty Advisors represented Just Salad in lease negotiations with landlord Jamestown Properties.

     

  • Mixed-Use at Work

    Mixed-use development works for trade areas where demand matches each use

    Different developers look at mixed-use in different ways. One developer will look for trade areas that provide solid demand for retail, residential, office and perhaps other uses. The goal is to create developments where no single use dominates the others.

    Still other developers gauge the demand for various uses and adjust the use offerings to match demand. In such cases, one use may dominate the center.

    The Trademark approach to demand

  • West Elm to make Alabama debut

    Brooklyn, N.Y. - West Elm, a division of Williams-Sonoma, will open a store in Birmingham, Ala., on Thursday, Oct. 10. The 8,000-sq.-ft. store is located in The Summit Birmingham shopping center.
     

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