Colonial Candle to open first-ever retail store for the brand
Charleston, S.C. — Colonial Candle said it is opening its first retail and research boutique in Charleston, S.C. The 3,000-sq.-ft. flagship store is the 103-year-old candle company’s first and only boutique.
Located in The Shops at Charleston Place, the Colonial Candle boutique joins Godiva, Gucci, Louis Vuitton and Lacoste at the center.
The new store is slated to open in early fall 2012.
In the new boutique, customers will have the opportunity to join the creative process, experiencing new fragrances in originally designed fragrance rooms and sharing their impressions to influence the direction of current and future fragrances and products.
Cafaro seeks to expand portfolio through acquisition
Youngstown, Ohio — Cafaro Co. has announced it is actively seeking to expand its portfolio of enclosed malls.
According to the company, each potential acquisition property must demonstrate historic, stabilized net operating income and minimum sales of $300 per sq. ft. Cafaro said is interested in malls with a minimum gross leasable area of 600,000 sq. ft. in trade areas of 200,000 – 450,000 residents.
Cafaro currently owns and oversees more than 30 million sq. ft. of commercial real estate in 11 states.
SRS announces exec promotions
Dallas — SRS Real Estate Partners announced the promotions of two team members. Tom Power and Todd Wallace both have been promoted to executive VP.
Power has more than 13 years at SRS and is a managing partner for SRS Real Estate Partners – Northwest, LLC. He also serves as market leader for SRS’ Northern California markets: San Francisco, San Jose and East Bay.
Wallace has been with SRS for more than seven years and serves as market leader for both the Austin office and the newly opened San Antonio office, along with his recent appointment of co-market leader for the Houston office.