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A&G Realty to manage resolution of 258 Fashion Bug leases

BY Katherine Boccaccio

Melville, N.Y. — A&G Realty Partners said Tuesday it has been retained by Charming Shoppes to exclusively manage the resolution of all remaining Fashion Bug real estate leases in the United States.

On June 14, Ascena Retail Group acquired Charming Shoppes and announced plans to cease operating and close down the Fashion Bug arm by early 2013.

"We’re pleased to be working with A&G Realty Partners to wind down our remaining Fashion Bug store leases,” said Jonathon Graub, executive VP real estate, Charming Shoppes.

"We expect this group of Fashion Bug locations to generate very strong interest from a variety of retailers,” added A&G co-president Emilio Amendola. “We’re faced with a lack of new real estate development and that, combined with favorable lease terms in strong markets, creates a unique opportunity for merchants looking to open in these geographies."

The 258 leases that are available for assignment or sublease range from 5,000 to 12,000 sq. ft., and are available in the following locations: Arizona (4), California (12), Colorado (1), Connecticut (6), Delaware (2), Florida (3), Iowa (2), Illinois (12), Indiana (12), Kentucky (9), Massachusetts (12), Maryland (6), Maine (3), Michigan (14), Minnesota (3), Montana (11), Nebraska (2), New Hampshire (3), New Jersey (12), New Mexico (2), Nevada (1), New York (22), Ohio (19), Oklahoma (1), Oregon (5), Pennsylvania (38), Rhode Island (1), Tennessee (1), Texas (7), Virginia (7), Washington (9), Wisconsin (10), West Virginia (5) and Wyoming (1).

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FINANCE

Sears Canada narrows loss in Q3

BY Staff Writer

Toronto — Sears Canada Inc. reported Tuesday a loss of $21.85 million, compared with a loss of $44 million in the same period last year.

Revenue dropped 6.8% to $1.04 billion, and same-store sales slid 5.7%.

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News

Project Profile: Bethesda Walk, Lawrenceville, Ga.

BY Katherine Boccaccio

DLC Management Corp., based in Tarrytown, N.Y., is one of those savvy shopping center companies that seems to instinctively know what to buy, what to sell, what to redevelop, what to re-merchandise.

And, most of all, DLC knows what will turn a shopping center on its ear.

Bethesda Walk, in Lawrenceville, Ga., on the outskirts of Atlanta, was a fairly typical grocery-anchored shopping center anchored by a Publix and tenanted by a variety of service and retail businesses. In 2009, the Publix store closed, and DLC launched a search for the right anchor to drive the center’s success.

In December 2011, DLC announced it had struck a deal with Wal-Mart Stores Inc. to open a Walmart Neighborhood Market at Bethesda Walk. The new store would be the concept’s debut in Atlanta – and that was a big deal.

Along with the announcement that Walmart Neighborhood Market was coming to town with a 44,271-sq.-ft. store, DLC also revealed that the vacant Publix space would undergo a multimillion-dollar interior and exterior renovation to house the new Walmart.

Metro Atlanta’s first Walmart Neighborhood Market opened in June 2012 at Bethesda Walk – and, said DLC president and CEO Adam Ifshin.

“The opening of the Walmart caused a 180-degree turn in terms of the center’s traffic and sales,” he said. “We had gotten some leasing done at the center prior to the Walmart announcement, but it effectively leased up after the news of Walmart’s impending arrival became public.”

Interestingly, Bethesda Walk wasn’t the first deal that Walmart signed in Atlanta, but it was the first to open.

“That’s about our execution,” said Ifshin. “And we’re proud of that.”

Today, the parking lot of the 68,271-sq.-ft. shopping center remains packed, proof not only that Wal-Mart’s expanding market concept is a winner but also that DLC knows what will transform one of its assets from a solid performer to a superstar.


More Real Estate Web Exclusives & Guest Commentaries

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A.Butler says:
Apr-13-2013 12:47 pm

today
Even when you have the best memory you may lose your keys. It sometimes happens. When this situation occurs just call the nearest thornton locksmith and he will change the locks

A.Butler says:
Apr-13-2013 12:47 pm

Even when you have the best memory you may lose your keys. It sometimes happens. When this situation occurs just call the nearest thornton locksmith and he will change the locks

P.Lopez says:
Mar-29-2013 11:59 am

Chatrandom
Mart Stores Inc. to open a Walmart Neighborhood Market at Bethesda Walk. The new store would be the concept’s debut in Atlanta – and that was a big deal. Chatrandom

P.Lopez says:
Mar-29-2013 11:59 am

Mart Stores Inc. to open a Walmart Neighborhood Market at Bethesda Walk. The new store would be the concept’s debut in Atlanta – and that was a big deal. Chatrandom

E.Ka says:
Mar-17-2013 11:01 am

Wal mart is know for being a
Wal mart is know for being a multinational retail corporation. Sometimes it is good to run a family business. - Aldo Todini

E.Ka says:
Mar-17-2013 11:01 am

Wal mart is know for being a multinational retail corporation. Sometimes it is good to run a family business. - Aldo Todini

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