REAL ESTATE

M-A-C Cosmetics leases Manhattan location

BY Michael Fickes

New York — M-A-C Cosmetics has signed a long-term lease at 853 Broadway in Manhattan’s Union Square, according to The Feil Organization, the building’s owner and manager. RKF represented M-A-C in the lease negotiations. The retailer plans to open in time for the 2014 holiday shopping season.

M-A-C will occupy a space on the ground floor and project a two-level storefront plus 14 ft. of frontage along 14th Street, giving it excellent visibility.

Located at the southwest corner of Broadway and 14th Street, the 157,000-sq.-ft. 853 Broadway is located in a rapidly growing retail district in and around Union Square.

Pedestrian traffic totals 350,000 people daily, and nearly 250,000 consumers visit the nearby Union Square Greenmarket weekly. The Union Square subway station is the fourth busiest in New York City, with more than 34 million riders yearly.

A façade renovation for the first five floors of the 21-floor office building will be completed in July. In addition, Feil is upgrading the rest of the storefront around M-A-C.

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REAL ESTATE

99¢ Only Stores signs 615,000-sq.-ft. industrial lease

BY Michael Fickes

Commerce, Calif. — 99¢ Only Stores has signed a lease for the entire 615,000-sq.-ft. Garfield Corporate Center in Commerce, California, in Los Angeles County. It is the largest industrial infill lease ever signed in Los Angeles County. In addition, the building ranks as the largest freestanding building to be constructed in Greater Los Angeles in the past 10 years.

JLL represented the landlord, KTR Capital Partners, the property’s developer and landlord, in the transaction.

KTR plans to complete construction in the second quarter of this year.

Garfield Corporate Center will feature modern amenities, including 36-foot minimum ceiling clearance, 109 loading positions in a cross-dock configuration, abundant truck and trailer storage and expandable car parking. The building is positioned with immediate access to nine major freeways. Its proximity to this extensive freeway network enables line-of-sight entry to all three major transportation networks: Ports of Los Angeles and Long Beach, Los Angeles International Airport, and the Rail Yards of BNSF Intermodal and Union Pacific, located only two miles from the development.

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FINANCE

Garden Ridge to rebrand stores to At Home

BY Marianne Wilson

Plano, Texas — Garden Ridge announced that it is investing $20 million to rebrand all of its stores to the At Home brand.

"Our new name, At Home, better reflects our company’s home décor heritage, as well as our aspirations for the future. By aligning our in-store transformation and merchandise offerings, the new brand best positions us to succeed as we move forward with our expansion strategy," said CEO Lee Bird.

Along with the new name and branding, the stores have been redesigned to enhance the self-help shopping experience, making it easier for customers to find exactly what they need and make themselves feel “At Home.” The newly redecorated stores have been redesigned to provide a welcoming atmosphere with easy-to-read signage that takes the customer on a journey through the space, guiding them to the various departments and down the aisles for specific items they are seeking.

New in-store merchandising vignettes offer design ideas for every room in the house and the outdoor entertaining area. The displays are changed out seasonally to remain relevant and on-trend, offering design inspiration for how products can be put together and displayed in customers’ homes.

The rebranding and refreshing initiative in all locations is expected to be complete by the holiday shopping season. The company currently operates 71 stores across 21 states with plans to open 13 net new stores in 2014.

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