REAL ESTATE

Pottery Barn opening in Garden City Center

BY Staff Writer

Cranston, R.I. — Boston-based The Wilder Cos. said that Pottery Barn is opening a new store in Garden City Center, as part of the first phase of a plan to expand, reconfigure and redevelop the historic shopping center.

Pottery Barn will be the larger of two stores located in a new 20,000-sq.-ft. building, and is expected to open at Garden City Center in February 2013.

The addition of Pottery Barn, next to Papa Razzi, begins an extension of the Village that will eventually turn former large-format retail space into a mix of mid-size and smaller specialty stores. Later phases include the addition of several new restaurant spaces and improved traffic and pedestrian links to the Whole Foods Market section of the center. Work is also currently underway to transform the Garden City Center gazebo from the end-cap of the Village into the new focal point for the center.

As well, Williams-Sonoma will open a new store, before Thanksgiving 2012. The newly expanded store will open diagonally across from its current store. The new 5,400-sq.-ft. store is approximately 40% larger than Williams Sonoma’s current space and will feature the company’s newest exterior design. The new long-term lease continues a 20-year presence at Garden City Center for Williams-Sonoma.

In late June 2012, Ann Taylor will be opening its second Rhode Island store at Garden City Center. The 4,700-sq.-ft. store will be located in the Village, joining its sister store Loft.

Also new to Garden City Center and Rhode Island is European Wax, which will be located in a 1,787-sq.-ft. store near Whole Foods Market and is anticipated to open in August. Additionally Dansko Clogs by Alexander’s, Soma Intimates and Edible Arrangements recently opened stores in the Village.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
REAL ESTATE

Report: Global shopping center development reaches all-time high

BY Katherine Boccaccio

London — A report issued by C.B. Richard Ellis on Friday said that global shopping center development has reached unprecedented levels of construction and new openings, fueled by growing middle classes and retailer expansion.

According to the most recent research by CBRE, which measured shopping center development activity in 180 of the world’s major cities – including 2011 completions and space currently under construction – 318.6 million sq. ft. is currently under construction and about 84 million sq. ft. opened in 2011.

The report found that emerging markets such as China, Turkey, and India are far more active than the more mature markets of Western Europe and North America. Growing middle class populations have led to an upsurge in new development to meet demand, while the maturity of the retail sector in Western Europe and North America has forced retailers from these markets to cross borders in order to grow their businesses.

In 2011, new shopping centers opened in 63 (35%) of the cities covered in the survey, of which 50 were in emerging markets. In contrast, only five cities in Western Europe saw the opening of a new center last year.

Chinese cities currently dominate shopping center construction activity. In the 180 cities analysed, half of the space under construction is in China. Outside of China, the most active markets are Abu Dhabi, Hanoi, Kuala Lumpur (Klang Valley), New Delhi and Sao Paolo.

“It is our view that shopping center development activity is currently at an all-time high,” said Neville Moss, head of retail research, CBRE. “China has led the way in recent years and with huge opportunities still existing in its secondary cities, it is likely to remain the most active development market over coming years. However, the upsurge in development is also evident in Turkey, Mexico, Malaysia and Vietnam among others.”

Moss added that the maturity of the retail sector in western Europe and North America has resulted in much lower levels of development, but it has also forced retailers from these markets to seek new opportunities in fresh markets in order to grow their businesses. “This trend is expected to continue,” said Moss, “and is helping to underpin the development of high quality, new retail space in emerging markets.”

In Europe, new shopping centers were completed in just 15 out of the 96 cities covered in the survey. Outside of Russia and Turkey only the Ukraine (Kiev and Kharkov) and Italy (Milan and Turin) saw the completion of more than one new center. There was virtually no new development in the mature shopping center markets of North America and the Pacific region.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
REAL ESTATE

Big Lots opens anchor store in Stone Mountain, Ga.

BY Katherine Boccaccio

Tarrytown, N.Y. — DLC Management Corp., which owns Stone Mountain Square in Stone Mountain, Ga., said Friday that Big Lots has opened a 26,355-sq.-ft. store at the shopping center.

Big Lots co-anchors the center with Ross Dress for Less, T.J. Maxx, Marshalls, Dot’s and Anna’s Linens.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...