REAL ESTATE

Gold Max opening 100 locations in California

BY Staff Writer

Tustin, Calif. — Gold Max of California announced that is on track to open 100 Gold Max stores in Southern California within the next year.

With more than 150 stores, Gold Max operates the United States’ largest chain of stores specializing in buying gold and precious metals from consumers. Gold Max entered the Southern California market in the fall of 2010 and opened eight stores.

Since retaining Present Value Properties as its exclusive real estate broker for California in early 2011, Gold Max has opened six new stores in Southern California and is set to open nine more. Currently, Present Value Properties is in negotiations on additional 23 stores for Gold Max in Southern California.

“Present Value Properties has worked with us to redesign our development process to significantly reduce the time necessary to identify sites, sign deals and open stores,” said Jordan Sadoff, co-founder of Gold Max. “We are now opening stores in less than 90 days from start to finish.”

Gold Max stores can range from 700 sq. ft. to 4,000 sq. ft.

Gold Max operates over 150 cash for gold stores, including more than 60 locations in Illinois and Wisconsin, 45 in Georgia and 10 in Indiana, Missouri, North Carolina and Tennessee.

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REAL ESTATE

Dunkin’ Donuts signs agreements for 12 new units in Tampa

BY Staff Writer

Canton, Mass. — Dunkin’ Donuts on Monday announced it has signed agreements with three franchisees to develop 12 new restaurants throughout Tampa over the next several years.

"The Sunshine State is a priority growth market for Dunkin’ Donuts in 2011, and we’re excited to expand our footprint in Tampa," said Grant Benson, CFE, VP franchising and market planning, Dunkin’ Brands.

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REAL ESTATE

Limelight Marketplace in Manhattan to become a department store

BY Marianne Wilson

New York City — Limelight Marketplace, an indoor mall in Manhattan, is getting a major — and costly — makeover. The shopping venue will re-launch in September as a three-story department store called Limelight. Renovation costs will total almost $4 million.

"We want to display Limelight as a ‘fashion-forward’ venue with sophisticated and modish aesthetics," said developer and owner Jack Menashe. "The restored architecture makes Limelight the distinctive spot that it is — allowing for an exciting shopping experience.”

Opened amid much fanfare last May, Limelight Markeplace is located in a landmark deconsecrated chuch that housed a famous nightclub (The Limelight) from 1983 to 2001. Developer and owner Jack Menashe converted the building into a 30,000-sq.-ft. urban mall with an eclectic mix of boutique tenants. According to reports, the center has suffered from lack of traffic since it opened.

Menashe said he determined that the space was too small for the 40-vendor shopping center and decided to convert it into a single department store that will feature such brands such as Bed Stu, PRPS, Nudie Jeans and James Perse, as well as eateries Grimaldi’s and Todd English’s CrossBar. In a Wall Street Journal article, he described his upcoming retail venture as “not unlike Barneys.”

The space will be made over with darker walls and dimmer lights to complement the building’s design and stained glass windows.

Limelight has hired ad shop Conversation to drive marketing efforts for the new venue.

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