REAL ESTATE

Orchard Hardware continues rollout of new neighborhood format

BY Katherine Boccaccio

San Jose, Calif. — Orchard Supply Hardware Stores Corp. said Friday it will add two California stores to its rollout of a new neighborhood format, with the grand re-openings of a pair of stores in the company’s hometown of San Jose on Oct. 6.

Both stores have been operational for years, but the company said that the reformatting is so significant that they would be marked by grand re-opening celebrations.

According to Mark Baker, Orchard president and CEO, the upgrades are intended to help the company leverage the “white space” between small, independently owned hardware stores and big-box home-improvement stores.

By year end, Orchard plans to have 12 stores operating in the new neighborhood store format, which features a racetrack configuration to maximize traffic flow, and an expanded and centralized customer-service area coined the “Workbench,” where customers get assistance with basic hardware needs such as tool and knife sharpening, rescreening, lock rekeying, pipe threading, and cutting pipe, conduit, chain, cable or rope. The new format also features an expanded paint area and enlarged indoor/outdoor nursery and garden supply area.

Orchard’s neighborhood format was piloted at its San Jose Princeton Plaza store, which opened in September 2011.

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REAL ESTATE

Mall of San Juan breaks ground; to house Caribbean’s first Saks and Nordstrom

BY Katherine Boccaccio

San Juan — Taubman Centers and New Century Development announced Friday the groundbreaking on the 650,000-sq.-ft. Mall of San Juan, the island’s first luxury retail development. The $405 million, two-level mall will feature the first Saks Fifth Avenue and Nordstrom in the Caribbean.

Of the approximately 100 stores and restaurants, it is expected that 60% will be new to the island.

New Century Development will also be constructing a 225-room hotel and casino adjoined to the mall. The entire project is expected to open in late 2014. Taubman will develop, lease and manage the shopping center.

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OPERATIONS

Home Depot names Blue Nile co-founder to board

BY Staff Writer

Atlanta — The Home Depot said Friday it has named Mark Vadon, co-founder of online jeweler Blue Nile, to its board of directors.

Vadon will serve on the audit and finance committees. His appointment gives the company 11 directors, 10 of whom are independent.

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M.Strom says:
Sep-24-2012 11:49 am

Blue Nile co-founder
I heard Blue Nile’s Co-Founder Started a Private-Sale Site. Created a new Customer Group - children’s clothes from organic cotton. contractor

M.Strom says:
Sep-24-2012 11:49 am

I heard Blue Nile’s Co-Founder Started a Private-Sale Site. Created a new Customer Group - children’s clothes from organic cotton. contractor

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