REAL ESTATE

NAI Global adds Toronto affiliate

BY CSA STAFF

Princeton, N.J. NAI Global has announced it has signed Toronto-based real estate brokerage Ashlar Urban Realty to operate as NAI Ashlar Urban.

NAI Ashlar Urban is the newest addition to NAI Global’s Canadian Network, which includes 10 additional offices operating under the NAI Commercial umbrella in Calgary, Edmonton, Gatineau, Halifax, Langley, Montreal, New Westminster, Ottawa, Vancouver and Victoria.

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REAL ESTATE

Nordstrom Rack to open in Denver

BY CSA STAFF

Seattle Nordstrom announced it will open a Nordstrom Rack, a unit of the company’s off-price retail division, in Cherry Creek in Denver.

The 39,000-sq.-ft. store will open in spring 2010. Nordstrom Rack is also scheduled to open a new store at Belmar shopping center in Lakewood, Colo., in fall 2010.

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REAL ESTATE

Report: 7-Eleven ramps up expansion

BY CSA STAFF

New York City 7-Eleven is taking advantage of the weak commercial real estate market to open some 200 stores this year, the New York Times reported.

Company officials said the two regions where growth would be strongest are California, where the company had almost 1,300 stores at the end of 2008, and the New York metropolitan area, which had 431 stores at 2008 yearend. At least 44 stores will open this year in metropolitan New York, more than twice the number that opened last year, the report said.

Looking long term, the company sees the possibility of adding 350 stores in the metropolitan area in five to seven years, according to the article.

The expansion strategy of 7-Eleven, company officials said, reflects relatively strong demand for its products. Plus, the weak real estate market has provided retailer with access to desirable retail space that it was not previously offered or that was too expensive. 

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