REAL ESTATE

Sembler reinvents Park 66 property

BY Katherine Boccaccio

St. Petersburg, Fla. — The Sembler Co. announced Monday that it is redeveloping its Park 66 shopping center, located in St. Petersburg, Fla., and owned by the company since 1970.

A Wal-Mart Neighborhood Market is being added to the property as part of the redevelopment – slated to open fall 2013 – and other tenants are being relocated.

“It’s exciting to watch this redevelopment unfold. It’s been in our portfolio for so long now and has seen several retailers through many market cycles,” says Josh Beyer, Sembler VP of development.

Sembler opened Park 66 in 1970 with A&P as its anchor.

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REAL ESTATE

GNC to open new downtown Manhattan store

BY Katherine Boccaccio

New York — RKF said it has arranged a 2,100-sq.-ft. lease for GNC at 302 Canal Street in downtown Manhattan.

The new store, which will consist of 1,050 sq. ft. on both the ground floor and basement of the building, is located less than one block east of Broadway near Mercer Street. It will become GNC’s 47th Manhattan location when it officially opens this spring.

With this latest lease transaction, RKF has arranged five retail leases in New York City on behalf of GNC.

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REAL ESTATE

NAI MLG Commercial names VPs

BY Katherine Boccaccio

Milwaukee — NAI MLG Commercial announced that Tim Janusz and Brett Garceau have been promoted to VP.

Janusz specializes in office landlord and tenant representation, and Garceau specializes in the lease and sale of industrial properties.

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