REAL ESTATE

Pine Tree names omni-channel marketing director

BY Michael Fickes

Northbrook, Ill. — Pine Tree Commercial Realty LLC has appointed Graham Grochocinski to serve as the firm’s director of omni-channel marketing and social media.

Grochocinski will handle Pine Tree’s omni-channel retail coordination as well as the firm’s social and digital communications.

Grochocinski comes to Pine Tree from USAgain, an award-winning recycling company, where he managed the integrated marketing efforts for lead generation and branding.

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REAL ESTATE

Urstadt Biddle acquires two New Jersey shopping centers

BY Michael Fickes

Greenwich, Conn. — Urstadt Biddle Properties Inc. has acquired two shopping centers in New Jersey: Boonton A&P Center in Boonton and Bloomfield A&P Center in Bloomfield.

The company paid $18.4 million, subject to an existing $7.8 million mortgage, for the 63,000-sq.-ft. Boonton A&P Center. Constructed in 1999, the center features a 49,463-sq.-ft. A&P plus Dunkin’ donuts, Chase Bank, Subway, Supercuts and Sprint. More than 90% of the tenants are national or regional names.

Urstadt Biddle bought the 56,000-sq.-ft. Bloomfield A&P Center for $11 million, subject to an existing mortgage in the amount of $7.7 million. Built in 1977 and renovated in 1999, the Bloomfield center is anchored by a 30,750-sq.-ft. A&P, and an 8,950-sq.-ft. Walgreen’s. Other tenants include Dunkin’ Donuts, Supercuts, a pizzeria, liquor store and stationery store.

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REAL ESTATE

Nordstrom Rack to open in Dayton, Ohio

BY Michael Fickes

Seattle — Nordstrom plans to open a 35,000-sq.-ft. Nordstrom Rack at The Greene Town Center in Dayton, Ohio, in the fall of 2014. Olshan Properties, formerly known as MPI, Mall Properties, Inc., manages The Greene Town Center.

Nordstrom Rack has four other locations in Ohio, two of which opened this past fall in Columbus and Westlake. Another Rack location is set to open at Sun Center in Columbus this spring. Nordstrom operates three full-line stores in Ohio.

The Greene Town Center is a 1.1 million-sq.-ft. mixed-use community center featuring open-air gather spaces, parks for children, more than 200 residential units, pedestrian-friendly streets and 120,000 sq. ft. of second floor office space. The new Nordstrom Rack will join retailers and restaurants such as Banana Republic, Sephora, Forever 21, The Cheesecake Factory and McCormick & Schmicks among others.

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