REAL ESTATE

Royal Properties inks three Orange County, N.Y., deals

BY Michael Fickes

New York — Royal Properties has announced three lease signings in Orange County, N.Y. — two with Miracle Ear and one with Tiger Schulmann’s Mixed Martial Arts.

Miracle Ear has signed a seven-year lease with a five-year option for 1,500 sq. ft. at Wallkill Plaza in Middletown. Royal Properties and Rand Commercial Services were the brokers in the transaction. Wallkill’s co-tenants include Big Lots, Ashley Furniture, Hobby Lobby, Papa John’s, Texas Roadhouse and Boston Market.

Miracle Ear also signed a seven-year lease with a seven-year option for 730 sq. ft. at the Big V Town Centre located in Vails Gate. Royal Properties represented the landlord and Rand Commercial Services represented Miracle Ear.

Tiger Schulmann’s Mixed Martial Arts signed a 15-year lease for 2,616 sq. ft. at the Big V Town Centre. Royal Properties represented the landlord and J.W. Burke & Co. represented the tenant.

Big V co-tenants include Shop Rite, Kmart, Sleepy’s, Key Bank, Burger King, Goodwill and Mavis Tires.

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News

Supervalu continues to focus on driving sales

BY CSA STAFF

Supervalu’s renewed focus on driving sales and cash in all segments of its business seem to be paying off. The company has been working toward turning identical sales positive and posted net sales of $3.95 billion for the second quarter ended Sept. 7, up 0.2% from $3.94 billion for the prior-year quarter.

“Similar to what we outlined in the first quarter, we remain focused on delivering steady improvements in our business each and every quarter,” said president and CEO Sam Duncan. “While our end goal won’t be achieved overnight, I am encouraged with our results this quarter and, more importantly, the way we are achieving these results by building a strong foundation that is focused on our customers.”

Identical store sales in the Save-A-Lot network were negative 0.3%. Identical store sales for corporate stores within the Save-A-Lot network were positive 4.6%. Identical store sales in the retail food segment were negative 0.9%.

On Jan. 10, the company announced it had reached a definitive agreement for the sale of five retail grocery banners — Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market. This transaction was completed on March 21.

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REAL ESTATE

Sacramento Sam’s Club morphs into Burlington Coat Factory

BY Michael Fickes

Colton, Calif. — The Hodgdon Group, a brokerage, development, construction and project management firm, has converted a former Sam’s Club in Sacramento into a 60,000-sq.-ft/ Burlington Coat Factory.

The new store opened last week. Hodgdon Group Realty and CBRE Sacramento represented the investor in the acquisition of the Sam’s Club building, as well as the landlord in the lease transaction. Retail West Inc. represented Burlington Coat Factory. An additional tenant has leased the remaining space and plans to open soon.

Hodgdon recently converted a former Sports Authority building in Broadstone Plaza in Folsom, Calif., into an Ashley Furniture HomeStore. The 32,000-sq.-ft. freestanding store opened last month.

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