REAL ESTATE

Penn Traffic Converts Tops Market Store

BY CSA STAFF

Syracuse, N.Y., Penn Traffic said it purchased another Tops Market store and will convert the location to its new P&C Fresh Foods banner. A purchase price for the Norwich, N.Y., store was not announced. Penn Traffic also acquired a Tops store in Rome, N.Y., last month. Both stores are among the 51 Tops Markets locations that Ahold USA put up for sale last summer.

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REAL ESTATE

Movie Gallery Looks to Sublease at 2,200 Locations

BY CSA STAFF

Dothan, Ala., Movie Gallery, Inc. said it entered a management agreement and alliance with Excess Space Retail Services, Inc. to explore opportunities to sublease space at more than 2,200 existing Movie Gallery and Hollywood Video stores. Movie Gallery expects retail partners to occupy about 2,500 sq. ft. at each location. “In addition to the incremental revenue we expect to realize through subleasing portions of the stores, we look forward to the additional traffic that our retail partners will generate,” said Keith Cousins, executive VP and chief development officer, Movie Gallery, Inc. “By taking advantage of our outstanding retail presence, we expect this initiative to improve our operating results and create value for our shareholders.”

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American Eagle Selects Sites for Martin + Osa

BY CSA STAFF

Pittsburgh, American Eagle Outfitters’ new Martin + Osa concept will debut in four locations, starting in August. The stores will be in Tysons Corner Center, McLean, Va,; Fashion Island, Newport Beach, Calif.; NorthPark Center, Dallas, and San Francisco Center. The stores, from 6,500- to 7,500-sq.-ft., are targeted at men and women 25 years to 40 years old.

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