REAL ESTATE

John Crossman to moderate ICSC forum

BY CSA STAFF

Orlando, Fla. John Crossman, president of Crossman & Co., will moderate an ICSC panel discussion on the future of commercial real estate in Central Florida on Tuesday, July 28 at The Village at Lake Lily in Maitland, Fla.

Crossman said expert panelists include Randy Anderson, chairman of the real estate department at the University of Central Florida; Chris Brockman, partner at Holland + Knight law firm in Maitland; Lonnie Peterson, chairman of Cuhaci & Peterson architects in Baldwin Park; and Declan Reiley, VP business development for the Metro Orlando Economic Development Commission.

The program, entitled, “Central Florida — Where It Is, Where It Is Headed,” is being hosted by the International Council of Shopping Centers Orlando Local Program Committee. 

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REAL ESTATE

Nordstrom Rack to open in Denver

BY CSA STAFF

Seattle Nordstrom announced it will open a Nordstrom Rack, a unit of the company’s off-price retail division, in Cherry Creek in Denver.

The 39,000-sq.-ft. store will open in spring 2010. Nordstrom Rack is also scheduled to open a new store at Belmar shopping center in Lakewood, Colo., in fall 2010.

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REAL ESTATE

Report: 7-Eleven ramps up expansion

BY CSA STAFF

New York City 7-Eleven is taking advantage of the weak commercial real estate market to open some 200 stores this year, the New York Times reported.

Company officials said the two regions where growth would be strongest are California, where the company had almost 1,300 stores at the end of 2008, and the New York metropolitan area, which had 431 stores at 2008 yearend. At least 44 stores will open this year in metropolitan New York, more than twice the number that opened last year, the report said.

Looking long term, the company sees the possibility of adding 350 stores in the metropolitan area in five to seven years, according to the article.

The expansion strategy of 7-Eleven, company officials said, reflects relatively strong demand for its products. Plus, the weak real estate market has provided retailer with access to desirable retail space that it was not previously offered or that was too expensive. 

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