REAL ESTATE

Report: Costco stepping up plans to open in malls

BY CSA STAFF

New York City Costco Wholesale Corp. is moving forward with plans to open stores in shopping malls as a way to expand in crowded metro areas, according to a report in The Wall Street Journal.

“Our preference is to never be in a mall or by a mall,” co-founder and chairman Jeff Brotman said. “But in metro areas there just is not that much land, and we still want to expand.”

Brotman noted that the company wants these outlets to be nearly as large as its normal outlets, and carry the same product portfolio. Costco, whose stores can range up 205,000 sq. ft., said it will either fit into the space contained by a large department store or use the space from a smaller store and add additional footage.

Costco last week announced a multiple-site agreement with The Westfield Group, whereby the warehouse club operator will build an approximately 146,000-sq.-ft. outlet to anchor the proposed Village at Westfield Topanga, in Los Angeles. At Westfield Sarasota Square, in Sarasota, Fla., a former department store site will be redeveloped to house an approximately 145,000-sq.-ft. Costco. At Westfield Wheaton, in Wheaton, Md., an approximately 148,000-sq.-ft. Costco will occupy the second level of a former department store site.

The new Costco stores are envisaged to open in late 2011/early 2012 at Sarasota and Wheaton, and late 2012 at The Village at Westfield Topanga.

In the Journal report, Brotman said the chain is looking at several other mall sites, including one in Trumbull, Conn.

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REAL ESTATE

Bloomingdale’s debuts outlet format

BY CSA STAFF

New York City Bloomingdale’s has opened its first outlet store, in Potamic Mills, Woodbridge, Va. A second unit is scheduled to open on Aug. 27, in Bergen Town Center, Paramus, N.J.

With approximately 22,000-sq.-ft. of selling space, the store sells men’s, women’s and children’s apparel and accessories and intimate apparel. It has a stylish discount look, with a black and white motif.

In October, Bloomingdale’s plans to open an outlet in Dolphin Outlet Center, Miami, Fla., followed by a store in Sawgrass Mills, Sunrise, Fla., in November.

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REAL ESTATE

Chicken Bonz to open at Sherwood Market Center

BY CSA STAFF

Sherwood, Ore. Jacksonville, Fla.-based Regency Centers said that Chicken Bonz has leased restaurant space in Sherwood, Ore., at Sherwood Market Center.

The quick-serve restaurant has leased 1,430 sq. ft. and is slated to open in fourth quarter 2010.

The 124,256-sq.-ft. shopping center is anchored by Albertsons supermarket alongside national retailers such as Supercuts, Baskin Robbins, Massage Envy, Snap Fitness, Chase Bank and GNC.

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