REAL ESTATE

RCS Real Estate Advisors to serve as outsourced real estate department for Perfumania

BY CSA STAFF

New York City RCS Real Estate Advisors has expanded its previous portfolio optimization engagement with Perfumania, to now serve as the retailer’s outsourced real estate department.

Retained earlier this year to analyze Perfumania’s retail real estate portfolio and identify cost savings opportunities, RCS has extended their engagement to provide ongoing management of Perfumania’s real estate portfolio. In addition to seeking rent relief and lease terminations, where appropriate, new services include a focus on negotiating cost-effective renewals and seeking new store opportunities.

“RCS is working hard to increase the overall financial performance of the Perfumania brand,” said RCS Real Estate Advisors president and CEO Ivan L. Friedman. “Our retail real estate expertise, coupled with their ongoing success as the nation’s leading specialty perfume and fragrance retailer, has already proven to be a winning partnership.”

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REAL ESTATE

Toys “R” Us Times Square debuts themed candy shop

BY CSA STAFF

New York City Toys “R” Us has opened a Willy Wonka-themed candy shop at its Times Square flagship in Manhattan.

Visible from the store’s windows overlooking Broadway, the new Wonka shop has a colorful design and boasts several interactive features. A 4-ft. tall Wonka hat greets customers as they enter the shop, which contains a replica of the famous Wonka edible garden.

“The Wonka candy shop at Toys “R” Us Times Square is another way we are delighting our customers by offering a distinctive retail environment that makes our international flagship store a unique, sought-after destination,” said Mindy Clements, VP flagship stores, Toys “R” Us.

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Old Navy, Ulta, Carters to open at Shops at Park Lane

BY CSA STAFF

Dallas Northwood Investors announced that its Shops at Park Lane mixed-use retail development in Dallas has attracted Old Navy, Ulta Cosmetics and Carters, all of which plan to open stores this fall.

Old Navy will open a 23,300-sq.-ft., two-level Dallas flagship store. “Old Navy is looking forward to what will be our flagship store for DFW,” said Walter Smith, director of real estate for The Gap.

Ulta Cosmetics will open a 10,000-sq.-ft. store, which will include a salon of approximately 950 sq. ft. Carters’ store will be 4,300 sq. ft.

In 2009, The Shops at Park Lane opened its first stores with Nordstrom Rack, Dick’s Sporting Goods, The Children’s Place and Lane Bryant/Cacique. More stores continued to open since then including Dallas’ flagship Whole Foods Market, Gordon Biersch and Saks Off 5th, and additional shops and restaurants will continue to open over the next year, according to the owner Northwood Investors.

The Shops at Park Lane encompass a 33.5-acre mixed-use development and offers an urban experience with car and light rail access, ample parking and pedestrian-friendly sidewalks. The Heights at Park Lane, developed by PM Realty Group, offers 325 luxury residences at The Tower, The Flats and The Lofts. At full build out, The Shops at Park Lane will contain more than 2.8 million sq. ft. with more than 700,000 sq. ft. of retail, restaurant and entertainment space, anchored by Dallas’ flagship Whole Foods.

UCR Urban, a division of United Commercial Realty, is the leasing and management arm of the project.

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