REAL ESTATE

Lord & Taylor opens in Boca Raton, Fla.

BY Staff Writer

New York — Lord & Taylor, a division of Hudson’s Bay Company, has opened a store at Mizner Park, an open-air, mixed-use center in downtown Boca Raton, Fla. The two-level, 80,000-sq.-ft. store store marks the retailer’s return to the Sunshine State.

The new store features the company’s latest store design, which emulates a classic style but with a new, updated twist. A sense of glamour permeates the space, seen in such details as chandeliers imported from Italy and 300 mannequins that showcase strong fashion statements.

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REAL ESTATE

Safeway to dispose of Dominick’s stores and exit Chicago market

BY Marianne Wilson

Pleasanton, Calif. — Safeway Inc. announced it plans to get rid of its 72 Dominick’s stores in the Chicago area, exiting the market in early 2014.

Safeway’s decision comes after Dominick’s had a net loss of $8.4 million for the third quarter, ended Sept. 7, compared with a loss of $6.2 million in the year-ago period, and a net loss of $21.5 million for the year to date, compared with $16.8 million for the year- ago period.

"The decision to sell Canada Safeway and to exit the Chicago market is consistent with Safeway’s priority of maximizing shareholder value," said Robert Edwards, president and CEO. "These actions will allow us to focus on improving and strengthening our core grocery business. We are continuing to review all of our businesses to optimize our allocation of resources, improve sales and grow operating profits."

Leaving Chicago is the latest strategic move for Safeway. In June 2013, the company announced that it entered into an agreement to sell its Canadian operations through a sale of substantially all of the net assets of CSL to Sobeys Inc., a Canadian food retailer and wholly-owned subsidiary of Empire Company Limited.

Safeway bought Dominick’s in 1998 for about $1.2 billion plus debt.

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REAL ESTATE

Whole Foods Market to open in Newark, N.J.

BY Marianne Wilson

New York — Whole Foods Market has signed a lease for a 29,000-sq-ft. store in Newark, N.J., according to the Newark Star-Ledger.

The store is expected to be an anchor tenant in a 112-year-old landmark building that was once occupied by the Hahne & Co. department store. The building is being converted into a multi-use space that will feature apartments, retail and office space.
The project is a joint partnership between the Newark-based Hanini Group and L&M Development Partners of New York.

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