Empire Outlets enlists top fashion artist
Empire Outlets, the outlet center taking shape on the Staten Island side of the Staten Island Ferry, has turned to Manhattan and Holly Nichols to help promote the center.
Nichols’ illustrations have guided campaigns for Saks Fifth Avenue and Neiman-Marcus, not to mention New York and Boston Fashion Weeks. Her work has 600,000 followers on Instagram, and originals sell to collectors on Etsy.
“As this innovative project comes to life, I believe my art and illustrations will give a sense of what Empire Outlets can be, and I’m looking forward to sharing that vision with shoppers,” Nichols said.
Nichols was recruited for Empire Outlet’s upcoming marketing campaign by “Queen of Retail,” Faith Hope Consolo.
“With her magical markers, Holly brings forth the vivaciousness of life, creativity and fun, and, of course, that means shopping,” said Consolo, who heads Douglas Elliman’s retail leasing team.
Empire Outlets, a project of BFC Partners that will encompass 350,000 sq. ft., is scheduled to open in spring of 2018.
Tenants already signed for the outlet center include Nordstrom Rack, Nike Factory, Banana Republic, Francesca’s Collection, Columbia Sporting Goods, and Guess Factory.
“Just as Empire Outlets is illustrating the future of Staten Island’s North Shore, Holly Nichols is painting a picture of what we’re building for millions of tourists and local shoppers” said Joseph Ferrara, principal of BFC Partners.
The New York Wheel has been indefinitely delayed, and will NOT be opening in spring of 2018. Empire Outlets already delayed their projected fall 2017 opening to coincide with the Wheel, which is involved in legal battles and has no contractor to do the work at this point.
The New York Wheel will NOT be opening as planned, and is now "indefinitely postponed" with no further information, so Empire Outlets (which delayed its opening from Fall 2017 to coincide with the Wheel) will be opening alone in the Spring of 2018.
Louisiana center changes hands
Kimco Realty has sold the Ambassador Plaza neighborhood center in Lafayette, Louisiana, to Westwood AC Properties for $5.3 million.
According to Transwestern VP Fred Victor, who brokered the deal for Kimco, the property benefits greatly from being shadow-anchored by an Albertson’s grocery store. Ambassador Plaza boasts a wide variety of dining options, including Subway, Little Caesars, and Fruiti Smoothie.
“The Ambassador Plaza transaction is a perfect example of a well-capitalized private investor acquiring a high-quality asset in a market that has become non-strategic for a REIT,” said Victor.
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Phillips Edison acquires Bakersfield center
Phillips Edison has acquired another grocery-anchored center, this on in Bakersfield, California.
Riverlakes Village is a 92,212-sq.-ft. neighborhood center anchored by Von’s Supermarket and augmented by a classic necessity-based mix of CVS, Verizon Wireless, Bank of America, Supercuts, Steak and Grape’s, and Chipotle.
The center is 97% leased, according to broker CBRE, which did not disclose the sale price.
"The yield premium in the secondary markets such as the Central Valley is compelling for investors in today's low cap rate environment and Riverlakes Village’s excellent grocery and restaurant sales,” said CBRE Executive VP Phillip Voorhees.
Built in 1997, Riverlakes Village consists of six parcels totaling 9.5 acres at the southeast corner of Coffee Road and Hageman Road in Bakersfield.
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