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

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

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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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99 Cents Only launches search for Rodeo Drive store site

BY Katherine Boccaccio

Commerce, Calif. — Discounter 99 Cents Only said Tuesday it has launched an official search for a retail property on Rodeo Drive in Beverly Hills, Calif., to open its first store on the iconic street.

"We are confident a Rodeo Drive store will be successful because our stores do well in affluent areas,” said Eric Schiffer, CEO. “In fact, our highest sales volume store is located only a few blocks from Beverly Hills on Wilshire Boulevard.”

Of its 303 extreme-value stores in the U.S., 222 are in California.

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