REAL ESTATE

Shelter Cove signs two new tenants

BY Michael Fickes

Hilton Head Island, S.C. — Shelter Cove Towne Centre has signed letters of intent with two new tenants: Heritage Fine Jewelry and Jake’s Wayback Burgers.

A joint venture between Blanchard & Calhoun Commercial and Kroger Real Estate, Shelter Cove is being developed into a destination for Hilton Head residents and the area’s 2.5 million visitors. The project includes plans to redevelop the existing mall into a walking village that will consist of 290,000 sq. ft. of retail space anchored by Kroger and Belk.

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REAL ESTATE

Krispy Kreme readies first Moscow store

BY Dan Berthiaume

Winston-Salem, N.C. – In collaboration with Russian restaurateur and franchise partner Arkady Novikov, owner and operator of LLC Doughnuts Cafe, the first Krispy Kreme doughnut shop in Moscow is scheduled to open on Sept. 12.

With the opening of the new Moscow location, Krispy Kreme will have a presence in 22 countries around the world. The approximately 3,229-sq.-ft. store is located on Nikolskaya Street, just behind Moscow’s Gum Shopping Arcade and Red Square.

"We look forward to working with Mr. Novikov and the LLC Doughnuts Cafe team as they continue to expand in Moscow," said Jeff Welch, Krispy Kreme president-international. "With their vast knowledge of the appetites and attitudes of Muscovites, and proven track record of success, it is our hope that our beloved brand will become an integral part of Moscow’s culture for many years to come."

Krispy Kreme entered a development agreement for Moscow with LLC Doughnuts Café in April 2012. Under the agreement, LLC Doughnuts Cafe has agreed to build 40 Krispy Kreme shops in the city of Moscow.

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City Sports Boston store to open this week

BY Katherine Boccaccio

Boston — City Sports announced that it will open its latest retail store this week at 225 Franklin Street, marking the company’s eighth store in its hometown Boston market and first in the city’s financial district.

The Franklin Street store will open the week of Sept. 9, giving a fresh look to the space once occupied by State Street. This will be the brand’s second new store in the Boston area this year, following the opening of City Sports’ Chestnut Hill location at The Street this past spring.

"As we continue our long-term growth plans, we are thrilled to be opening our newest store at Franklin Street, right in the center of our home city," said City Sports president and CEO Eddie Albertian.

Located in the heart of Boston’s Financial District, the 8,000-ft. Franklin Street space spans two floors with the majority of the sales area contained on the lower level in the original location of the State Street bank vault. The retail space will pay homage to the original vault along the staircase connecting the two levels with a 16-ft. installation that includes over 2,000 real pennies.

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