REAL ESTATE

Five Below to enter North Carolina with four stores

BY CSA STAFF

Philadelphia Five Below announced its expansion into North Carolina with the opening of four stores. On Friday, Oct. 1, the teen retailer will open stores in Apex, Cary, Durham and Raleigh, N.C.

The new stores will average 7,500 sq. ft. each.

“Five Below stores offer a fun and trendy shopping experience, and help budget-conscious consumers stretch the value of their dollar,” said David Schlessinger, co-founder and executive chairman, Five Below, whose merchandise is priced from $1 to $5. “We’re looking forward to establishing a strong presence in North Carolina as we expand our chain and grow to 200 locations over the course of the next year.”

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REAL ESTATE

Borders to open 25 holiday pop-up stores

BY CSA STAFF

Ann Arbor, Mich. Borders Group announced it will open 25 seasonal Borders Express stores nationwide to serve customers during the holiday season. The stores are expected to officially open Oct. 25 and will operate through Jan. 31.

Averaging about 2,500 sq. ft., each store will carry top titles and big new releases, Halloween and holiday-themed items, a selection of kids books, plush and toys as well as an assortment of e-Readers and related accessories.

“The majority of these stores are located in malls where we had a presence at one time,” said Mike Edwards, CEO of Borders. “Where it didn’t make business sense for us to operate stores on a permanent basis in these areas, we can open a seasonal store and serve the holiday shopping needs of our customers.”

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REAL ESTATE

Simon Property Group and Eye expand media agreement to 60 additional malls

BY CSA STAFF

Indianapolis Simon Property Group, and media specialist Eye announced a new alliance that gives Eye advertising rights, commencing January 1, 2011, to an additional 60 Simon malls in 18 states across the United States.

New properties being added to the mix include retail landmarks such as Roosevelt Field in New York; Lenox Square in Atlanta; Copley Place in Boston; and the Houston Galleria.

The new agreement builds on Eye and Simon’s existing business relationship and positions Eye as the number one retail media operator in terms of presence across North America. Eye already holds advertising rights in 103 Simon properties.

“We are excited about broadening our relationship with Eye,” said Mikael Thygesen, Simon’s chief marketing officer. “Eye is singularly committed to mall media in the United States and has demonstrated a desire to aggressively grow the category. We’re looking forward to working with them in the years to come to do just that.”

Eye’s offering of freestanding advertising directory units are strategically placed in high-traffic locations throughout the mall environment — including at entrances, near escalators, and in food courts — ensuring advertisers’ messages reach the diverse cross-section of Americans who visit the mall frequently.

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