Jimmy Johns inks 3 leases in Detroit metro area
Bloomfield Hills, Mich. — Jimmy Johns has signed leases for three new restaurants in the Detroit metropolitan area, two in Livonia and one in Northville.
In Livonia, Jimmy Johns signed a 2,277-sq.-ft. lease on Middlebelt Road. Mid-America Real Estate-Michigan represented Jimmy Johns and the landlord, CVS, in the transaction.
The second Livonia lease secured a 1,740-sq.-ft. space on a pad in a former Wal-Mart redevelopment at the intersection of I-96 and Middlebelt Road. Mid-America represented Jimmy Johns in the transaction, and Howard Schwartz Commercial Real Estate represented the landlord.
In Northville, Jimmy Johns took 1,920 sq. ft. and secured the drive-thru position within Phase I of Northville Park Place at the corner of 7 Mile and Haggerty Roads. Mid-America represented Jimmy Johns, and the landlord, Schostak Brothers & Co., was self-represented.
Mid-America Real Estate is the Michigan ChainLinks representative. ChainLinks Retail Advisors is a national and international network of over 60+ independent offices specializing in tenant representation and shopping center leasing.
Rwanda tops A.T. Kearney’s First African Retail Development Index
New York — Rwanda, Nigeria, Namibia, Tanzania and Gabon occupied the top five places of the first-ever A.T. Kearney African Retail Development Index (ARDI), a new study designed to help large, organized retailers determine where and how to best enter Sub-Saharan Africa’s rapidly growing retail market. The ARDI not only identifies the markets in Africa most attractive for retail expansion today, but those that offer the most potential in the future.
"The top 10 countries in the Index are diverse in terms of scale and growth potential,” said Mirko Warschun, A.T. Kearney partner and ARDI co-author. “Retailers must understand where African countries are in the evolution of the retail landscape and the stages of market development to craft their expansion strategies for Africa."
By 2020, nearly half of all Africans will be living in cities. As disposable incomes rise, consumer spending will grow to almost $1 trillion. Even with the challenges of entering and succeeding in Africa, the opportunity is impossible to ignore.
"Although there are many challenges, Africa has reached a point in its economic development where global retailers must evaluate the significant potential for growth in this market," noted A.T. Kearney partner and ARDI co-author Mike Moriarty.
Click here to read the full 2014 African Retail Development Index.
Schimenti Construction building Aritzia store in The Westchester
Ridgefield, Conn. — Schimenti Construction Company is in the midst of building its first project for Canadian fashion apparel retailer Aritzia. Located at The Westchester in White Plains, New York, the new Aritzia store is a 5,520-sq.-ft new build-out in a premier shopping location.
Aritzia’s stores are all designed individually, with no two looking the same, but each has a sophisticated lounge-like atmosphere that boasts high-quality natural materials and luxurious finishes.
The Westchester Aritzia will feature a polished concrete floor and a custom storefront system now being fabricated in Vancouver, B.C. The storefront is a new design and it is the first time being used in the United States. The $1.3 million store is slated for completion by the end of May.
Aritzia, based in Canada, has locations in New York City on Fifth Avenue and in SOHO, as well as in New Jersey at Paramus and the Short Hills Mall. The company operates more than 60 locations in Canada and the United States.