REAL ESTATE

New leases bring Dunning Farms to full occupancy

BY Katherine Boccaccio

Middletown, N.Y. —Charter Realty & Development Corp. said that three new leases and one relocation, totaling 90,372 sq. ft. has brought the Dunning Farms Shopping Center, located in Middletown, NY., to 100% occupancy.

Since being brought on to lease Dunning Farms, Charter has executed new leases with Ollies Bargain Basement for 30,775 sq. ft., with Groo Shoes for 3,880 sq. ft., and with Nilsen Insurance for 1,175 sq. ft. What-a-Store has relocated to a 28,000-sq.-ft. store.

Dunning Farms is a 358,323-sq.-ft. center anchored by Toys R Us, T.J. Maxx and HomeGoods.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
REAL ESTATE

Borders moves closer to liquidation as bankruptcy court judge okays Borders auction

BY CSA STAFF

New York — Borders Group moved closer to liquidation after a judge on Thursday approved its motion to auction itself off with an offer from liquidators as its opening bid. The retailer said it will accept bids until 5 p.m. Sunday and will give notice by Monday if no other bidder emerges.

The move came after an offer made earlier this month from a private-equity investor, Phoenix-based Najafi, fell apart seemingly overnight. Najafi had offered $215 million for the company, plus the assumption of $220 million in debt. But landlords and creditors objected, saying that the deal would not prevent Najafi from taking possession of the company and liquidating it immediately for profit.

Creditors say a bid from liquidators Hilco Merchant Resources and Gordon Brothers is stronger, and would pay out between $252 million and $284 million in cash.

On Thursday, Borders said it wouldn’t seek approval for Najafi’s bid at a scheduled hearing in the U.S. Bankruptcy Court Southern District of New York and designated the liquidators as the primary, or "stalking horse" bid.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
REAL ESTATE

Gap to roll out more Athleta stores

BY Staff Writer

New York — Gap Inc. is expanding its Athleta brand. The company will open eight to 10 Athleta stores in 2011, with a total of 50 expected by 2013, according to Women’s Wear Daily.

As previously reported, Athleta will make its New York City debut this summer, opening two locations in Manhattan.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...