REAL ESTATE

Garrison acquires 13-property retail portfolio

BY Katherine Boccaccio

New York — Garrison Investment Group said Tuesday it has acquired a 13-property portfolio totaling 1.7 million sq. ft. of neighborhood and community shopping centers in Ohio and Indiana. The seller is Kimco Realty Corp.

The 13 properties feature retailers such as T.J. Maxx, Giant Eagle, Kroger, Bed Bath & Beyond and Home Depot.

Garrison engaged Cincinnati-based Select Strategies Realty manage and lease the properties.

Garrison also purchased The Shoppes at West Melbourne in West Melbourne, Fla., from Kimco earlier this year.

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S.Tran says:
Apr-24-2013 08:56 pm

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The 13 properties feature retailers such as T.J. Maxx, Giant Eagle, Kroger, Bed Bath & Beyond and Home Depot.chatrandom

S.Tran says:
Apr-24-2013 08:56 pm

The 13 properties feature retailers such as T.J. Maxx, Giant Eagle, Kroger, Bed Bath & Beyond and Home Depot.chatrandom

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OPERATIONS

Employment Trends Index down in September

BY Staff Writer

New York — The Conference Board Employment Trends Index decreased again in September, following a downward revision in August. The index now stands at 107.86, down from the revised figure of 108.23 in August. The September figure is 5.4% higher than a year ago.

“In September, the Employment Trends Index declined for the third time in four months, suggesting that employment growth will weaken further in the fourth quarter,” said Gad Levanon, director of Macroeconomic Research at The Conference Board. “The U.S. economy entered a soft patch in the spring and the result has been lackluster job growth, which is likely to continue through the first half of 2013.”

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REAL ESTATE

Nordstrom Rack to open in Cleveland, Chicago

BY Katherine Boccaccio

Seattle — Nordstrom Inc. said Tuesday that it has opened a second Cleveland Nordstrom Rack store – at the Promenade in Crocker Park, owned and managed by Stark Enterprises.

The 34,000-sq.-ft. store is slated to open fall 2013 in a former Border’s space at the lifestyle shopping center located in Westlake, Ohio, and tenanted by Bed Bath & Beyond, H&M, Trader Joe’s, Victoria’s Secret and The Cheesecake Factory.

Another new Nordstrom Rack location will open in Chicago’s Lincoln Park neighborhood in spring 2014. The 40,000-sq.-ft., two-level store will open at Collection Anex, a new retail development owned by Centrum Partners.

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