REAL ESTATE

Art Van Furniture plans two new Chicago-area stores

BY Dan Berthiaume

Warren, Mich. – Art Van Furniture is adding its seventh Chicagoland location in Downers Grove. Renovations are set to begin to transform the two-story 106,000-square-ft. building into a new store scheduled to open in January 2015.

Art Van Furniture plans to hire at least 70 associates in Downers Grove, bringing the total number of new jobs created in Chicagoland to more than 600. The multi-million dollar store renovation will include a 10,000 square foot expansion as well a new main entrance. An escalator will also be installed in the center of the main floor and upper showrooms.

The retailer is also grand opening its sixth Chicagoland location in Woodridge-Bolingbrook in April, 2014. During 2013, the retailer rolled out its planned expansion into the region, opening five contemporary new stores in Chicago (Logan Square), Bedford Park, Orland Park, Batavia and Merrillville, Ind.

"There is tremendous potential for success and we believe Downers Grove will become our flagship store based on its tremendous size and superb location," said Kim Yost, CEO of Art Van Furniture. "We look forward to enhancing the homes of the families in the vibrant Downers Grove community and its surrounding suburbs."

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REAL ESTATE

Sears subleases with Dick’s Sporting Goods at King of Prussia Mall

BY Dan Berthiaume

Hoffman Estates, Ill. – Sears Holdings has signed a sublease with Dick’s Sporting Goods to occupy a portion of its second floor at the King of Prussia Mall in King of Prussia, Pa. The two-story anchor building will be renovated with Sears maintaining exterior entrances on both levels and the mall entrance on level one.

Dick’s Sporting Goods will have exclusive use of the mall entrance on level two and have its own exterior entrances. The Sears store, on a long-term ground lease with Simon Property Group, currently occupies 215,000 square feet on two levels. Dick’s Sporting Goods will occupy the upper level. King of Prussia Mall is owned and managed by Simon Property Group.

"The sublease agreement with Dick’s Sporting Goods is a great example of Sears Holdings selectively redeploying its asset base to dramatically improve our retail shopping experience while working to create long-term shareholder value," said Alan Shaw, VP, Real Estate Leasing and Development for Sears Holdings. "King of Prussia Mall customers and our Shop Your Way members will also benefit from the sublease as we use this opportunity to enhance the store shopping experience for them."

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REAL ESTATE

American Apparel expands Berlin store

BY Dan Berthiaume

Los Angeles – American Apparel has opened a newly remodeled and expanded store in Berlin, Germany. Located in Mitte, the central borough of Berlin, the store was originally opened in February 2007 as American Apparel’s third location in the city.

In July 2013 the company took the opportunity to revitalize and improve the location. The area of the store has expanded by almost 170%, from 145 sq. m. to almost 390 sq. m. In addition to increasing the size of the original downstairs floor, the company added a second level to its lease, adding another 230 sq. m. to the size of the store. The renovations resulted in the installation of a bold array of fixtures and stand-out paintwork to give the store’s customers a top-to-bottom new experience shopping at the location.

"When the building changed owners this year, the new landlords asked if we wanted to expand our space,” said Dov Charney, founder and CEO of American Apparel. “We saw this as an amazing chance to take the store to an entirely new level, bigger, better designed and more efficient.”

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C.Reyes says:
Jan-25-2014 06:38 am

Individual stores having tough time to attract customers as people prefer to buy more from stores at malls. So they have to work a little more harder to gain attraction from people. http://casual-plus.com

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