REAL ESTATE

Joint real estate equity fund acquires Wisconsin power center: Plaza 173

BY Michael Fickes

Brookfield, Wis. — A joint real estate fund formed by Innovative Capital Advisors and HSA Commercial Real Estate recently purchased the 92,000-sq.-ft. Plaza 173 power center in Brookfield, Wis., in a competitive auction.

Tenants include Dunham’s Sports, Men’s Wearhouse, Famous Footwear and Kessler Jewelers.

Plaza 173 occupies the northwest corner of Bluemound Road and Calhoun Road. Bluemound Road, the primary retail thoroughfare in Brookfield, carries about 42,900 vehicles past the center each day. Nearby national retailers include Roundy’s Metro Market, Bed Bath and Beyond, Buy Buy Baby, Babies “R” Us and Sports Authority. The 1.1 million-sq.-ft. Brookfield Square Mall is just a mile away.

Plaza 173 has been under-utilized for years, said Tim Blum, executive VP with HSA Commercial. He went on to say that HSA Commercial and Innovative Capital Advisors are creating a redevelopment and leasing strategy designed to capitalize on the center’s location and market co-tenancies.

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HOT CONCEPTS

The Monocle Order, New York City

BY CSA STAFF
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Another pure online retailer has made the leap to brick-and-mortar. The Monocle Order, an online member’s club for sunglasses and optical frames, has opened a flagship in Brooklyn’s uber hip Williamsburg neighborhood.

The store has a clean, minimalist look and warm vibe. It features custom-designed, solid-oak displays styled so that the sunglasses and optical frames appear to be floating against exposed brick wall. (The store does not fill prescriptions for lenses.) The walls are decorated with antique wood frames that showcase images of past events and photo shoots so customers can visualize the brands history.

Customers can take part in an interactive photo shoot while selecting their frames from over 500 vintage and new unique designs. (The selection covers independent designers and cool vintage frames as well. Many of the featured brands have little or no representation in the U.S.) The images are sent to the customer to post on their social media page and share with their friends.

The Monocle Order was founded by Alex van Klaveren and Zoe Nightingale, who launched the site in March 2011 with a clever twist: After the first purchase of full-price frames, customer are granted membership status, giving them access to “members only” eyewear collections at a discounted rate. Members also receives invites and access to members-only parties that the company puts on in various hot spots around New York City.


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FINANCE

IBM in mega-deal to buy cloud computing firm SoftLayer Technologies

BY Marianne Wilson

Armonk, N.Y. — IBM on Tuesday strengthened its position in the fast-growing market for cloud-computing services with the news that it has entered into an agreement to acquire SoftLayer Technologies Inc. The Dallas-based firm is the world’s largest privately held cloud computing infrastructure provider, according to IBM.

The financial terms of the deal were not disclosed. But reports, including one by the New York Times, valued it at approximately $2 billion,

The acquisition is expected to close in the third quarter. Once the transaction is completed, SoftLayer and IBM’s existing SmartCloud unit will be combined in a new Cloud Services division. The division will report to Erich Clementi, senior VP, IBM global technology services.

“As businesses add public cloud capabilities to their on-premise IT systems, they need enterprise-grade reliability, security and management. To address this opportunity, IBM has built a portfolio of high-value private public and hybrid cloud offerings, as well as software-as-a-service business solutions,” said Clementi. “With SoftLayer, IBM will accelerate the build-out of our public cloud infrastructure to give clients the broadest choice of cloud offerings to drive business innovation.”

SoftLayer serves roughly 21,000 customers with a global cloud infrastructure platform spanning 13 data centers in the U.S., Europe and Asia. Among its many cloud infrastructure services, the company allows clients to buy enterprise-class cloud services on dedicated or shared servers, offering clients a choice of where to deploy their applications.

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S.Jones says:
Jul-21-2013 10:13 pm

This will be a welcoming step
This will be a welcoming step by IBM. And I think that IBM shall introduce improvements in the already existing service and will make it more efficient for the customers. IBM in itself is the name of security, trust, reliability and management. IBM will certainly come up to the expectations of its customers once again by taking over this private cloud computing. .

S.Jones says:
Jul-21-2013 10:13 pm

This will be a welcoming step by IBM. And I think that IBM shall introduce improvements in the already existing service and will make it more efficient for the customers. IBM in itself is the name of security, trust, reliability and management. IBM will certainly come up to the expectations of its customers once again by taking over this private cloud computing. .

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