REAL ESTATE

Big Drop leases Upper West Side store

BY Michael Fickes

New York — Adding to existing locations in Manhattan and Miami Beach, Big Drop, the women’s clothing retailer, has leased a third New York City storefront at 253 Columbus Avenue in Manhattan’s Upper West Side. The new store has 650 sq. ft. on the ground floor plus a 400-sq.-ft. storage basement.

Winick Realty Group represented Big Drop in the long-term lease transaction. Parkway East Properties LLL, the landlord negotiated on its own behalf.

Big Drop’s other Manhattan stores are in SoHo and the Upper East Side.

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REAL ESTATE

SL Green acquires interest in 650 Fifth Avenue

BY Michael Fickes

New York — SL Green Realty Corp. and partner Jeff Sutton have announced the formation of a venture that has acquired a 49-year leasehold interest covering the entire retail portion of 650 Fifth Avenue. The transaction was completed with former U. S. Magistrate Judge Kathleen A. Roberts, the court-appointed federal monitor and interim trustee of the landlord, 650 Fifth Avenue Company.

“Situated in the heart of Fifth Avenue’s prime retail corridor at 52nd Street, 650 Fifth Avenue is a perfect fit for our expanding retail investment portfolio in partnership with Jeff Sutton,” said SL Green President Andrew Mathias.

The investment gives the SL Green/Sutton partnership control of the building’s basement, grade-level, second and third floor retail spaces. Current tenants are Juicy Couture, Godiva Chocolate and Devon & Blakely.

Cushman & Wakefield represented the property owner in the transaction.

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Cabela’s to open in New Brunswick

BY Marianne Wilson

Sidney, Neb. — Cabela’s Inc. announced today plans to open a store in Moncton, New Brunswick, Canada.

The 50,000-sq.-ft. is scheduled to open in 2015, and will be located in a new development being developed by Cordova Realty. It will be Cabela’s first location in the greater Atlantic Canada area.

“Thousands of outdoorsmen and women across New Brunswick have supported Cabela’s through our catalogues and website for many, many years,” said Tommy Millner, Cabela’s CEO. “To finally bring those loyal customers the extraordinary Cabela’s retail experience is gratifying and speaks to how we feel about Atlantic Canada.”

In addition to thousands of quality outdoor products, the store will include a mountain replica, museum-quality wildlife displays and an indoor archery range, among other unique features.

Currently, Cabela’s operates 50 stores across North America, including four in Canada – Saskatoon and Regina, Saskatchewan; Edmonton, Alberta; and Winnipeg. The company has announced plans to open an additional 18 locations across North America over the next two years, including a second Edmonton location in spring 2014; a Barrie, Ontario, location in summer 2014; and a Nanaimo, British Columbia, location in fall 2014.

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