REAL ESTATE

CBRE announces promotion

BY Staff Writer

Los Angeles — CBRE said Friday that Michael F. Smith has been promoted to president of the company’s Western Division. Smith, who has led CBRE’s San Francisco Bay area operations since 2002, succeeds Steven Swerdlow, who has been appointed COO of the Americas.

In his new role, Smith will direct CBRE’s operations in more than 46 offices in nine states, with responsibility for all lines of business. He will continue in his role as Bay Area market leader until a successor is named.

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REAL ESTATE

Duane Reade unveils expanded store format

BY Antoinette Alexander

New York City — Duane Reade, a division of Walgreens, spotlights its “New York Living Made Easy” format on Friday with the unveiling of its expanded store located at 1657 Broadway in New York.
The new 24-hour location reflects the chain’s focus on rebranding and aggressive transformation initiatives to date.

"Duane Reade will continue to be at the forefront of drug store innovation throughout the chain’s repositioning efforts where it makes sense," said Joe Magnacca, president of Duane Reade and president of daily living products and solutions for Walgreens. “Taking this former 3,100-sq.-ft. Duane Reade Express store [and] integrating strategic retail and neighborhood-centric niche elements — thereby transforming it into its current 20,000-sq.-ft. total health, beauty and daily living destination — clearly indicates what we feel the future of drug stores will be."

New store offerings will include the debut of the UpMarket "Fro-Yo" Bar. This food offering, never rolled out before by Duane Reade, will feature eight varieties of frozen yogurt and four twists. There also will be various condiments, sauces and refrigerated toppings to choose from. The UpMarket "Fro-Yo" Bar yogurt is all-natural and produced by New York-based Ronnybrook Farms. An Upmarket "Freezee" station will also make a debut with rotating flavors of self-serve slushies.

Duane Reade’s fresh-made daily products will introduce all new entrees in ultra-fresh packaging, and a Good & Delish oatmeal station will be introduced containing three self-serve flavors of fresh instant oatmeal daily.

Offerings, first introduced at the chain’s 40 Wall St. flagship store, also will be integrated, including the Juice Market and a chef-manned sushi station featuring fresh sushi, sashimi and traditional sides.

The Duane Reade pharmacy will be linked to Walgreens’ pharmacy system so New Yorkers, out-of-state residents and visitors can have their Walgreens pharmacy information available at this Duane Reade location for a seamless patient experience that also will include prescription "ready" text messaging, free in-store language translation assistance and immunization services.

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Carlo Pazolini and Ermenegildo Zegna join Mall at Short Hills

BY Staff Writer

Short Hills, N.J. — The Mall at Short Hills, located in Short Hills, N.J., announced that Carlo Pazolini and Ermenegildo Zegna have joined the mall’s tenant roster.

Luxury menswear retailer Ermenegildo Zegna opened on the upper level near Neiman Marcus.

Carlo Pazolini has located on the lower level near Macy’s, and will present Carlo Pazolini, Carlo Pazolini Couture and Adami collections.

Other luxury tenants that have opened their doors at The Mall at Short Hills in 2011 include The Cheesecake Factory, Miu Miu, Omega, Pandora, Reed Krakoff, Swarovski, Victorinox Swiss Army, Vineyard Vines and XXI Forever, with Miu Miu, Reed Krakoff, Victorinox Swiss Army and Vineyard Vines debuting exclusively in New Jersey.

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