REAL ESTATE

Popeyes taps NAI ReStore to map expansion into Canada

BY CSA STAFF

Princeton, N.J. NAI ReStore and NAI ReStore’s Market Analytics have been retained by quick-serve restaurant Popeyes to help develop an expansion plan for the chain to grow into Canada.

According to NAI ReStore, the assignment includes conducting market segmentation, competitive analysis, store performance and customer-segmentation analyses as the chicken restaurant chain plans to expand in Toronto, Ontario, and eventually across Canada in the next five years.

NAI ReStore, the retail arm of NAI Global and NAI Ashlar Urban, its Canadian brokerage operation, have been selected as the preferred broker for these new locations, and will serve as project managers as needed.

“Popeyes selected NAI ReStore and its Market Analytics for its extensive and exclusive abilities to provide real-time, accurate and detailed market demographic data around the world and its ability to then turn that data into immediate market penetration results on the ground,” said David Solomon, president, NAI ReStore.

As of July, Popeyes had 1,905 restaurants in the United States, Puerto Rico, Guam and 26 foreign countries.

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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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