REAL ESTATE

State Approves New Lifestyle Community

BY CSA STAFF

Westwood, Mass., The Massachusetts Environmental Protection Agency (MEPA) has approved Westwood Station, a 4.5-million-sq.-ft. master-planned community that includes a mix of retail shops, office buildings, and luxury condominiums in Westwood, Mass.

Developer Cabot, Cabot & Forbes (CC&F) and its joint-venture partners, New England Development and Commonfund Realty, Inc., announced that the state has issued a Final Environmental Impact Report (FEIR) Certificate for the project, setting the stage for groundbreaking later this year.

The $1.5 billion Westwood Station project includes 1.35 million sq. ft. of retail, 1.5 million sq. ft. of office, 1,000 residential units and two hotels.

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BJ’s reports October comps increase

BY CSA STAFF

NATICK, Mass. BJ’s Wholesale Club today reported that sales for October increased by 9.2% to $663.8 million from $607.9 million in October 2006. Comparable-club sales increased by 4.8% for the month, compared with a comparable-club sales decrease for October of 0.7%, including a negative impact from sales of gasoline of 2.5%.

For the third quarter ended Nov. 3, total sales increased by 8.1% to $2.12 billion, and comparable-club sales increased by 3.4%. For the third quarter ended Oct. 28, 2006, comparable-club sales increased by 0.1%.

According to BJ’s, October sales increased in all major regions with the highest increase in Metro New York and the lowest increase in the Southeast. Food sales increased by approximately 5% for the month of October and 6% for the third quarter. General merchandise sales were approximately flat in October and increased by approximately 2% for the third quarter.

For the month of October, BJ’s reported that categories with strong comparable-club sales increases included coffee, dairy, frozen, juices, meat, milk, office supplies, produce, soda and water and televisions. Weaker categories versus last year included apparel, automotive and tools, cigarettes, prerecorded video, residential furniture and tires.

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Costco comps jump 9% in October

BY CSA STAFF

ISSAQUAH, Wash. Costco reported a big 9% jump in same-store sales in October.

 Leading the way was a 17% increase in sales at its international stores with U.S. sales jumping 7%. The increase beat the 5.7% average predicted by analysts for the month.

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