STORE SPACES

LEED Volume Program celebrates its 500th certified pilot project

BY CSA STAFF

Washington, D.C. — More than 500 building projects have certified through the LEED Volume Program since the pilot launched in 2006, according to the U.S. Green Building Council. The LEED Volume Program streamlines the certification process for high-volume property owners and managers, from commercial real estate firms, national retailers and hospitality providers, to local, state and federal governments.

Utilizing a prototype-based approach, the program enables large-scale organizational builders and operators to deliver a consistent end product, earning LEED (Leadership in Energy and Environmental Design) certification faster and at a lower cost than would be possible with individual building reviews. The certification program was designed to meet industry needs for a streamlined approach to certifying like buildings and spaces across a company’s portfolio.

Later this year, USGBC will introduce volume certification for existing buildings’ operations and maintenance, currently in pilot. To learn more about the LEED Volume program, visit www.usgbc.org/LEEDvolume.

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Chain Store Age releases fourth edition of New Product Digest

BY CSA STAFF

Chain Store Age has launched the fourth edition of its New Product Digest, which is designed to provide retailers with the latest news regarding new products and services, and to help suppliers promote their companies while influencing buying decisions.

The companies featured in this volume include Federal Health Specialty Contracting, The Maintenance Company and DuctSox. Check out this month’s edition.

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Borders’ real estate position: A Q&A with DJM Realty

BY Katherine Boccaccio

On Feb. 17, Borders Group announced that it had retained Melville, N.Y.-based DJM Realty, a Gordon Bros. Group Co., to manage the disposition project of the 200 stores that would be shuttered as a result of the bookseller’s just-reported Chapter 11 bankruptcy filing.

Chain Store Age talked with Andy Graiser, co-president of DJM Realty, about the assignment, and how a better Borders might emerge from the process.

Tell me about the Borders assignment, including your timeline and strategy for disposition.
We are currently marketing the 200-plus stores that are closing in a variety of markets, from Alaska to Hawaii, Massachusetts to Montana and all points in between. These stores are in some terrific markets, including 35 stores in California that we’re closing. We will be marketing the stores over the next eight weeks; the liquidators have begun their going-out-of-business sales which will be occurring as we continue to market and liquidate.

Plenty of interest being generated?
We have already received a lot of interest in the locations. So, the next step is exchanging information with the interested retailers, as they begin to gather lease data and terms and run their internal models to see if the locations could work for them. And this all has to be done in a very short timeframe. These retailers have to make decisions in the next 8 weeks for stores that average 25,000 sq. ft.

What types of retailers are interested in the Borders stores?
While we can’t identify the specific chains, I can tell you that we are getting interest from all categories of retailers, from supermarkets to furniture stores to gyms to apparel. Borders competitors aren’t in the mix yet, but I’m sure they’ll be there. From a marketing standpoint, the rumors about Borders’ impending bankruptcy have been swirling for a while, so retailers have had a chance to do some homework on the various sites and now it’s a matter of collecting specific data. This will speed the process.

What happens at the end of the eight-week period?
Any site that does not have a completed transaction will go back to the landlord. Borders’ bankruptcy relieves them of the liability for those locations so it becomes the landlords’ responsibility to market and fill the spaces.

The sites range from freestanding buildings, in-line locations, power center sites, urban locales, multiple-floor stores — so it’s a mix of real estate that will lend itself to a variety of retailer types.

I understand another 75 stores could potentially be added to the assignment?
Yes, that’s right. There could be at least another 70 to 75 stores to liquidate over the next 30 days. We are currently working with a number of landlords to renegotiate the leases; during the next 30 days we will save some stores and others will go into the next round of closings.

This is a very common procedure, as retailers in bankruptcy typically go through more than one round of store closings.

What does all this mean for Borders in the future?
Borders is being aggressive and fast in right-sizing their business. And that is exactly the right thing to do. I look at it as a company that has come to the realization of what the industry is about and becoming proactive in managing their business. The fact that Borders is being quick with their decisions is half the battle toward coming out of bankruptcy.

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D.Khatri says:
May-16-2013 04:39 pm

The article written very
The article written very well, writing technique looked very skillful and has a good sense of humor, let a person think, and let people with a cheerful mood, the feeling is very good. I like the article, the heart be thank the authors of shares. California Drivers Ed

D.Khatri says:
May-16-2013 04:39 pm

The article written very well, writing technique looked very skillful and has a good sense of humor, let a person think, and let people with a cheerful mood, the feeling is very good. I like the article, the heart be thank the authors of shares. California Drivers Ed

M.Mirevski says:
Feb-09-2013 11:00 am

They say they can help in
They say they can help in your search by offering games on their sites but the reality is they only want money, which they make from the advertisements. iPhone game development has helped a number of talented and creative developers to leave their day jobs and start working on their own projects. Hayday You will realize that free stuff is not the best choice for your precious iPhone as it might be infected and affect your PC as well. As I think, feedback always tells you how challenging and interesting game you have made.

M.Mirevski says:
Feb-09-2013 11:00 am

They say they can help in your search by offering games on their sites but the reality is they only want money, which they make from the advertisements. iPhone game development has helped a number of talented and creative developers to leave their day jobs and start working on their own projects. Hayday You will realize that free stuff is not the best choice for your precious iPhone as it might be infected and affect your PC as well. As I think, feedback always tells you how challenging and interesting game you have made.

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