St. Louis Center sold for $10.6 million
Springfield, Illinois-based Jared Commercial has acquired the Chippewa Center in St. Louis from an investment partnership controlled by Pace Properties. The purchase price was $10.6 million.
The 147,920-sq.-ft. center is located in the densely populated Shrewsbury neighborhood of St. Louis. Chief tenants are Shop ‘n Save, Value City Furniture, and Dollar Tree.
The deal was brokered for Jared Commercial by Mid-America Real Estate.
Toys ‘R’ Us’ ongoing turnaround plans include more stores
Fun. And smaller stores.
Both are part of Toys “R” Us’ plan to revive itself, Bloomberg reported.
CEO Dave Brandon wants to open smaller stores, a quarter the size of a typical 40,000-sq.-ft. Toys “R” Us, designed for New York and other cities that it had to leave due to high rents. He also wants to make Toys “R” Us stores more fun to visit.
“The biggest change you are going to see over the next year is that we want to bring our toy stores to life,” Brandon says. “I want kids to be dragging their parents to our stores because they want to see what’s going on at Toys ‘R’ Us this weekend.”
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Eataly entering new market
Eataly is taking its Italian food marketplace format to Canada.
The company announced plans to open its first Canadian location in early 2019, as an anchor tenant of the newly renovated Manulife Centre in Toronto.
Eataly, which combines food markets, restaurants, and eateries, will span three stories for a total space of 50,000 sq. ft.
The Italian company is partnering with the Selfridges Group and Terroni Restaurants for its entrance to Canada, leveraging local expertise to develop a truly distinct Toronto Eataly experience.