REAL ESTATE

Sam’s Club joins Stirling Bossier Shopping Center

BY Michael Fickes

Covington, La. — Sam’s Club will join the tenant lineup at Stirling Bossier Shopping Center in Bossier City, La., according to an announcement by Stirling Properties. Construction of the new club store is underway. It is scheduled to open in the summer of 2014.

Measuring approximately 13,000 sq. ft., the new club will feature a variety of amenities including a Fresh Bakery, a Tire and Battery Center, a Café and a Fuel Station. The Pharmacy, open to the public as well as members, features many $4 and $10 generic prescriptions. The new club will also debut a Hearing Aid Center.

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REAL ESTATE

Big Drop leases Upper West Side store

BY Michael Fickes

New York — Adding to existing locations in Manhattan and Miami Beach, Big Drop, the women’s clothing retailer, has leased a third New York City storefront at 253 Columbus Avenue in Manhattan’s Upper West Side. The new store has 650 sq. ft. on the ground floor plus a 400-sq.-ft. storage basement.

Winick Realty Group represented Big Drop in the long-term lease transaction. Parkway East Properties LLL, the landlord negotiated on its own behalf.

Big Drop’s other Manhattan stores are in SoHo and the Upper East Side.

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REAL ESTATE

SL Green acquires interest in 650 Fifth Avenue

BY Michael Fickes

New York — SL Green Realty Corp. and partner Jeff Sutton have announced the formation of a venture that has acquired a 49-year leasehold interest covering the entire retail portion of 650 Fifth Avenue. The transaction was completed with former U. S. Magistrate Judge Kathleen A. Roberts, the court-appointed federal monitor and interim trustee of the landlord, 650 Fifth Avenue Company.

“Situated in the heart of Fifth Avenue’s prime retail corridor at 52nd Street, 650 Fifth Avenue is a perfect fit for our expanding retail investment portfolio in partnership with Jeff Sutton,” said SL Green President Andrew Mathias.

The investment gives the SL Green/Sutton partnership control of the building’s basement, grade-level, second and third floor retail spaces. Current tenants are Juicy Couture, Godiva Chocolate and Devon & Blakely.

Cushman & Wakefield represented the property owner in the transaction.

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