CVS/Pharmacy opens at Parkesburg, Pa., center
Parkesburg, Pa. — CVS/Pharmacy recently opened a 7,940-sq.-ft. store at the Parkesburg Shopping Center in Parkesburg, Pa. CVS purchased the business of the location’s previous occupant, Longenecker Pharmacy, an independent, family-owned chain.
The 56,652-sq.-ft. development is exclusively leased and managed by Levin management. The center serves a population of more than 34,600 people within a five-mile radius. Average household income is more than $67,500. Daily traffic count is about 23,800 vehicles.
CBRE sells Albuquerque retail center — again
Dallas — CBRE’s National Retail Investment Group www.cbre.com has arranged the sale of Cottonwood Commons on behalf of Columbus Pacific Properties www.columbuspacific.com. The 191,893-sq.-ft. Class A retail center in Albuquerque sold to Cole Real Estate Investments www.colecapital.com.
In 2010, CBRE marketed the then 84,545-sq.-ft. center in a short sale to Columbus Pacific. At the time, the center was 84% occupied. Since then, Columbus Pacific has expanded the center with the purchase of an adjacent 99,000-sq.-ft. building. The center now consists of four buildings — two large multi-tenant buildings and two single-tenant buildings. In addition to the expansion, Columbus Pacific improved the center with a new façade and pylon sign.
Over the last 12 months, Cottonwood Commons has added Dick’s Sporting Goods, Gordmans, Panera Bread and La Montanita Natural Foods Market, bringing the center’s occupancy to 96.7%.
Rue21 debuts new rueGuy banner; 20 stores due by yearend
Warrendale, Pa. — Teen apparel retailer rue21 has unveiled a new retail concept, rueGuy, with stores in Shore, N.Y., Harlingen, Texas, and New Boston, Ohio. The company plans to open an additional four locations by the end of August, and is on target to open approximately 20 rueGuy stores by yearend.
The 6,000-sq.-ft. rueGuy format has an expanded men’s department, with a broader product assortment and more selling space than a traditional rue21 store. The new format also has a different look than rue21, and features open ceilings, a new layout, and design elements selected to appeal to a male customer while complementing the look and feel of the girls’ departments. Updated signage and lighting elements, polished floor and new fixtures provides the entire store with a dynamic and fresh new look.
“We look forward to growing our already successful guys business with this new store format that will allow us to deliver an expanded assortment of merchandise and accessories to our male customers,” said Bob Fisch, president and CEO, rue21, which operates 959 stores in 47 states. “While we originally went into the design process focused on building the guys business, we are confident that the new store layout, colors and fixtures will improve the shopping experience for all of our customers who are seeking the latest trends at competitive starting price points. We see this as just the beginning of building a new store format for the future."