REAL ESTATE

Ruth’s Chris opens in Denver

BY Michael Fickes

Orlando, Fla. — Ruth’s Chris Steak House has opened a new location in Denver — in the historic Denver Dry Goods Building. The contemporary space spans nearly 10,000 sq. ft. and boasts a grand lounge, three private event rooms, a dining room and a state-of-the-art kitchen anchored by Ruth’s Chris’ signature and proprietary 1,800-degree broiler.

Ruth’s Chris is the largest upscale steak house company in the world, with nearly 140 restaurant locations around the globe.

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REAL ESTATE

Alaska lodging resort to include open market

BY Dan Berthiaume

Philadelphia – Aramark has unveiled plans for Denali Park Village, a new lodging experience in Anchorage, Alaska, that will include an open market. The company is transforming and re-branding two adjacent properties it owns, McKinley Village Lodge and Denali River Cabins & Cedar Lodge, with a projected May 2014 opening.

In addition to lodging areas, Denali Park Village will be home to a vast open market. Designed with the look of a historic mining town, the marketplace will include individually themed shops such as a s’mores shack, apparel shop, pet supply store and more. A full main street market will feature assorted grab-and-go and gourmet food and grocery options. Hand-dipped ice cream is also planned.

"Denali Park Village brings together the synergy of two ideally situated properties to create a unique and authentic Alaskan experience for guests," said David Sloma, VP of operations for Aramark Parks and Destinations. "We believe this transformation will provide guests with even greater accommodations, hospitality options and amenities to complement their visit to Denali National Park."

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REAL ESTATE

Saks to make Canada debut, in Toronto

BY Marianne Wilson

Toronto — Hudson’s Bay Company will sell its flagship in downtown Toronto and neighboring office tower for C$650 million ($587.09 million) to an affiliate of commercial real estate developer Cadillac Fairview Corp., and open a full-line, 150,000-sq.-ft. Saks store in the leased-back space.

“This sale-leaseback provides HBC with resources to deleverage and accelerate investment in our growth initiatives,” said Hudson’s Bay CEO Richard Baker the statement. “We continue to explore other options to create additional value through the power and potential of our real estate assets.”

Hudson’s Bay, which also owns Lord & Taylor, bought Saks Inc for $2.4 billion last year.

Saks has also agreed to lease space for a full-line store in Toronto’s Sherway Gardens mall under the arrangement, Bloomberg reported.

As of August, the company had more than 17 million sq. ft. of owned and ground leased properties from Hudson’s Bay, Lord & Taylor and Saks full-line stores, according to its website.

Nordstrom is also getting ready to prepares to open its first store in Canada this year, setting the stage for a battle between two top U.S. luxury chains in the heart of the country’s most competitive retail market.

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