REAL ESTATE

JoS. A. Bank to open 500th store

BY CSA STAFF

Hampstead, Md. JoS. A. Bank Clothiers announced Wednesday that it will open its 500th location — in the Franklin Tower in Washington, D.C. — on Nov. 5.

The retailer has opened more than 200 stores in the past five years and said it expects to open another 100 to 175 stores as part of its long-term plan to grow the chain to approximately 600 full-line stores and 50 to 75 factory stores in the United States.

To date, JoS. A. Bank reported it has opened 30 stores (25 full-line, four factory and one franchise) in fiscal year 2010 and expects to open approximately 36 stores for the entire year.

“Over the past five years, in addition to opening 200 new stores, the company has increased net income every year, eliminated all of its debt, accumulated a cash and short-term investment position of approximately $190 million and created approximately 2,000 jobs in the United States,” said R. Neal Black, CEO of JoS. A. Bank Clothiers.

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REAL ESTATE

Macy’s in burned Roseville mall to re-open Friday

BY CSA STAFF

Roseville, Calif. A late Monday report by the Sacramento Business Journal said that the Macy’s at the Westfield Galleria at Roseville will reopen for business on Friday. All departments except shoes and cosmetics are expected to open.

According to the report, Macy’s will be a freestanding store as the roof caved in over the area that connected Macy’s to the rest of the mall.

Macy’s said it expects to have its shoe and cosmetics departments operating by the end of November.

The mall was damaged over a week ago in an arson fire that resulted in at least $55 million in damages. It is not yet known when the mall will fully reopen.

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REAL ESTATE

Energy Kitchen taps Rhys Commercial for expansion

BY CSA STAFF

Stamford, Conn. New York City-based health food restaurant chain Energy Kitchen said it has teamed with real estate company Rhys Commercial to handle its expansion throughout Westchester County (N.Y.).

Rhys is also representing Energy Kitchen in Connecticut.

Currently, the restaurant has eight Manhattan locations with another opening soon on the Upper West Side, and an additional outpost in Hoboken, N.J.

As part of a nationwide expansion with initial concentration on the east coast, the chain said it has development deals in place for Connecticut, Boston, south Florida and Washington, D.C.

A typical Energy Kitchen restaurant requires 2,000 sq. ft. to 3,000 sq. ft. of space.

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