REAL ESTATE

Hobby Lobby to open 70 stores in 2014

BY Staff Writer

Oklahoma City — Hobby Lobby announced it will open 70 stores throughout the United States in 2014, for a total of 625 locations nationwide.

The arts and crafts retailer said that as part of its expansion it will enter the states of Vermont and Oregon this year.

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REAL ESTATE

Nordstrom Rack to make Delaware debut

BY Staff Writer

New York — Seattle-based Nordstrom plans to open a Nordstrom Rack at Christiana Fashion Center in Newark, Del. The approximately 35,000-sq.-ft. store, which is scheduled to open in fall 2015, is the company’s first Rack location in the state.

The single-level, newly built Nordstrom Rack is located at the intersection of Interstate 95 and Route 1, adjacent to Christiana Mall and will be surrounded by a strong tenant mix.

"We have been looking for ways to better serve customers in Delaware and we’re thrilled with the opportunity to open a Nordstrom Rack near our full-line location at the Christiana Mall," said Geevy Thomas, president of Nordstrom Rack. "Many of our best Racks are across the street from our full-line stores and we know our customers like the convenience of shopping both."

"We’re excited to bring many new retailers to the Christiana Fashion Center lineup that will add to the existing Delaware tax-free shopping experience," said James H. Oeste, VP of real estate at Allied Retail Properties, which owns and operates Christiana Fashion Center. "We welcome Nordstrom Rack as being the first of many fine retailers to come."

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REAL ESTATE

RMC logged $79.5 million in transactions during 2013

BY Michael Fickes

Tampa, Fla. — RMC Real Estate Services recorded a transaction volume of $79.5 million in 2013, encompassing 1.4 million sq. ft. within its RMC Property Group and RMC Ross Realty divisions. Leasing activity included 279 transactions, encompassing 905,000 sq. ft., valued at a total of $49.1 million. Investment activity closed 20 deals for $30.4 million, spanning 532,000 sq. ft. The $13.9 million sale of Summerfield Crossing in Riverview, Fla., and the $3.5 million sale of the Travelodge Maingate Hotel in Kissimmee highlighted the company’s investment sales, according to a company statement.

Collectively, the company was awarded 53 new exclusive listings totaling approximately 2.1 million sq. ft. and 11 new land listings totaling over 45 acres.

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