REAL ESTATE

New tenants to open at La Palmera

BY CSA STAFF

Corpus Christi, Texas Trademark Property, owner of La Palmera shopping center in Corpus Christi, Texas, said Thursday that a lineup of new tenants will be opening at the 1.02-million-sq.-ft. mall.

P.F. Chang’s China Bistro, Grimaldi’s Coal Brick-Oven Pizzeria and Charming Charlie will open in spring 2010, with Vans, Verizon Wireless, MTV Nails, Sarku Japan, Subway, Coffee Beanery, H.J. Smoothies & Creamery and Pretzel Maker opening this fall.

Also opening this fall will be the new 1,100-sq.-ft. community room, according to Trademark Property founding partner Terry Montesi.

“With the renovations underway, La Palmera continues to evolve into a first-class regional shopping destination,” said Montesi. “Additions such as P.F. Chang’s, Grimaldi’s, Vans and Charming Charlie are examples of the strong response to the new La Palmera as a desired location, about which we are quite pleased considering the difficult retail climate.”

The $50 million renovation is currently in the works, including the new La Palmera Cafes food court, children’s play area and expanded retail space, will begin opening this fall.

Since acquiring the mall in July 2008, 53,808 sq. ft. of space has been in play; 12 new deals (26,405 sq. ft.) have been signed including the Dallas Cowboys Pro Shop, which opened in June. An additional 16 stores have relocated or remodeled (27,403 sq. ft.) including Spencer’s, Footaction USA, Sunglass Hut, MasterCuts, EyeMasters, Kay Jewelers and Gordon’s Jewelers.

Several new restaurants and retailers will line the new outdoor Lifestyle Court, which will serve as the new main entrance, currently under construction and opening this fall.

Department stores Macy’s and Dillard’s are renovating, and J.C. Penney will launch its renovation — complete with an in-store Sephora — 2010.

 

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REAL ESTATE

s.kuhlman to open in Manhattan

BY CSA STAFF

New York City European-inspired menswear retailer s.kuhlman has subleased 2,300 sq. ft. of retail space at 989 Third Avenue on the corner of East 59th Street in New York City, according to the retailer’s exclusive real estate advisor, The Lansco Corp., a member of the X Team Retail Services Network.

s.kuhlman will sublease the space until February 2010 and will have the opportunity to do a direct deal with the building landlord, the Allan Riley Co., at the end of the term. The asking rent for the three-level retail space is $25,000 per month, but Lansco, who also represented the sublessor, said it was able to negotiate a substantially lower base rent with a percentage based on sales.

“This unique arrangement provides s.kuhlman with the opportunity to test drive the market with a temporary store before committing to a longer term lease, and is something we were able to creatively negotiate because of our relationship with both the subtenant and sublessor,” explained Lansco executive VP Robin Abrams, who represented the tenant with director Peter Weissman.

Weissman added that the retail space was in good turnkey condition, which is ideal for a retailer looking to open a short-term store.

Founded by Scott and Susan Kuhlman in 2002 and run as a public company until 2007, s.kuhlman has rebranded and re-entered the marketplace with private-equity partners Louis Silverman and Jason Behfarin. The retailer offers signature, classic European-inspired pieces, and is described as a hybrid of men’s sportswear and dress wear.

In addition to opening a temporary store in Minneapolis, Lansco will act as the exclusive broker as s.kuhlman strategically rolls out stores across the country, including Boston and Los Angeles. 

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REAL ESTATE

Fitness 19 to open at Oak Park Commons

BY CSA STAFF

South Plainfield, N.J. Gym chain Fitness 19 will open a third New Jersey location at Oak Park Commons in South Plainfield, N.J., according to the center’s leasing and managing agent Levin Management Corp.

The 6,500-sq.-ft. facility will open in late fall.

The 137,000-sq.-ft. Oak Park Commons is anchored by Super A&P and a 24-hour CVS, with additional tenants including a newly rebuilt McDonald’s, Wachovia Bank, RadioShack, 1-800-Flowers, Subway, H & R Block and Goodyear Tire and Auto.

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