REAL ESTATE

Juicy Couture to close existing U.S. locations; open new store format in 2015

BY Marianne Wilson

New York — Juicy Couture is closing its U.S. stores as it makes plans to debut a new retail store format in key high-traffic locations, including New York City, Los Angeles and Vancouver, in early 2015. The company expects to open 127 stores and in-store shops during the next five years in major cities across the globe.

The specialty apparel brand, which is owned by Authentic Brands Group (ABG) said its current stores are being phased out as they were opened by the brand’s previous owner and are "no longer representative of the Juicy Couture brand" and ABG’s vision for the brand’s future. In 2013, Fifth & Pacific Companies (now Kate Spade Co.) sold Juicy to ABG. According to reports, the existing U.S. stores will be shuttered by the end of this summer.

The new Juicy stores will encompass the "world of Juicy," according to ABG, and are part of the company’s broader strategy to showcase its expanded merchandise offerings.

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REAL ESTATE

Venetian Nail Spa has opened at Kendall, Fla., center

BY Michael Fickes

Kendall, Fla. — Venetian Nail Spa has opened its 34th nationwide location at Kendall Village Center in Kendall, Florida. The 2,950-sq. ft. location between Lane Bryant and Famous Footwear brings the center’s occupancy rate to 99%.

Berkowitz Development Group represented the landlord, Kendall Village Associates, and completed the lease for the new tenant.

Kendall Village Center is an open-air, mixed-use destination with 276,000 sq. ft. of national and boutique local retailers and 159,000 sq. ft. of office space.

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REAL ESTATE

Cohen to market the Shoppes of Silverwood in Ricon, Ga.

BY Michael Fickes

New York — Cohen Real Estate, a Manhattan-based full-service brokerage firm specializing in retail properties throughout the United States, has been retained to market Shoppes of Silverwood, a full-service strip shopping center located in Ricon, Georgia.

The 65,571-sq. ft. shopping center is 100% occupied. A Kroger supermarket anchors the center. Kroger has seen a significant and steady increase in sales over the last few years, adding value to the property. Other tenants include Cato’s, Hong Kong Buffet, Pizza Hut, Jackson Hewitt Tax Service, and First Chatham Bank. Although the property is completely occupied, the new owner can add a 3,150-sq. ft. end-cap store.

Providing excellent visibility and easy access, Shoppes of Silverwood is located 30 minutes north of Savannah, Georgia. Situated on 5652-5667 U.S. Highway 21 South with a signalized intersection, the location achieves traffic counts of approximately 17,780 cars per day.

In order to take advantage of the current financial markets, Cohen has said that the property is being offered free and clear.

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