REAL ESTATE

H&M leases space for new store at The Forum in Carlsbad

BY CSA STAFF

Newport Beach, Calif. — Grubb & Ellis Co. said Friday that H&M has leased 19,600 sq. ft. of retail space at The Forum in Carlsbad.

The retailer signed a 10-year lease for the space, which includes a portion of the second level of The Forum. The company will take the majority of the space currently occupied by Borders Direct LLC, which is expected to vacate in spring 2011.

The retailer, which plans to open its Carlsbad location in summer 2011, now has 2,200 stores in 38 countries.

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REAL ESTATE

Tommy Bahama to open first NYC store in historic landmark building

BY CSA STAFF

New York City — Real estate firm The Feil Organization announced Friday that Tommy Bahama has signed a groundbreaking lease for the opening of its first Manhattan store at 551 Fifth Avenue at 45th Street.

The Seattle-based chain signed a 12-year lease agreement and will occupy 8,500 sq. ft. on the ground, mezzanine and basement levels of the renowned art deco Fred F. French building that is owned and managed by The Feil Organization.

"We’re going to bring Tommy Bahama to New York City. We’re not going to bring New York City to Tommy Bahama,” said Terry Pillow, CEO of Tommy Bahama. He also said that he expects his new store, which he hopes to open by the end of the year, to draw crowds of New Yorkers and tourists by transplanting the company’s tropics-themed store design to Manhattan.

The space is currently occupied by apparel retailer New York Look. The new Tommy Bahama store joins recent opening of Urban Outfitters at Fifth Avenue and 43rd Street, and the new Guess store opening at 47th Street.

Erected in 1927, The Fred F. French building is listed in the National Register of Historic Places and has been owned by The Feil Organization since 2001.

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TJX HomeGoods to open on Michigan Avenue

BY CSA STAFF

Chicago — Oakbrook Terrace, Ill.-based Mid-America Real Estate Group said Thursday that TJX’s HomeGoods has signed a lease for 25,503 sq. ft. of space at 600 N. Michigan Avenue.

The site is the largest single-footprint space available in the district.

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