REAL ESTATE

Regency Centers consults on USGBC LEED guide

BY CSA STAFF

New York City Shopping center owner and operator Regency Centers has been selected as a project consultant to create the new “Green Retail Guide: Integrating LEED into your Leasing Process,” by the US Green Building Council.

The new USGBC guide will be available in mid-2010.

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REAL ESTATE

Macy’s to launch Bloomingdale’s outlet store concept

BY CSA STAFF

Cincinnati Bloomingdale’s is going the way of such upscale department stores as Nordstrom and Saks Fifth Avenue and getting into the outlet business, Macy’s Thursday announced plans to launch a Bloomingdale’s Outlet store concept in 2010, with four locations scheduled to open in summer or fall. Additional Bloomingdale’s Outlet stores are expected to roll out to selected locations across the country in 2011 and beyond.

The initiative is being headed up by Arnold Orlick, a former division principal of Federated Department Stores (now Macy’s). He will rejoin Bloomingdale’s as senior VP outlet stores to lead and develop the outlet stores business.

“Bloomingdale’s Outlet stores are an opportunity to expand our presence in new and existing markets, as well as to remove clearance from full-line Bloomingdale’s stores in a timely manner,” said Michael Gould, Bloomingdale’s chairman and CEO. “The customer experience in these stores will reflect the Bloomingdale’s brand with a strong value message.”

The announced locations include stores, all of which are subject to final lease agreements, include: Bergen Town Center, Paramus, N.J.; Dolphin Mall, Miami; Potomac Mills, Woodbridge, Va.; and Sawgrass Mills, Sunrise, Fla.

“We have been studying the opportunities for entering the off-the-mall outlet business for some time, and the timing now is right given the consumer’s particular focus on value in addition to fashion and quality,” said Terry J. Lundgren, chairman, president and CEO of Macy’s. “The first Bloomingdale’s Outlet stores will be in excellent, high-traffic locations. Our real estate developer partners have been very supportive and encouraging as we pursued this strategy.”

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CVS enters St. Louis market

BY CSA STAFF

Woonsocket, R.I. CVS/pharmacy is entering the St. Louis market with five new stores in the area.

“We are pleased to be opening stores in St. Louis, the 20th largest drugstore market in the country. It is a great fit for our strategy of expanding into high-growth markets,” said Larry Merlo, president, CVS/pharmacy.

In total, the five stores will bring about 125 new jobs to the St. Louis community this year.

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