Tilden Ridge Shopping Center
A 400,000-sq.-ft., Wal-Mart Supercenter- and Lowe’s-anchored, regional shopping center opened on March 15 in Hamburg, Pa.
Tilden Ridge Shopping Center, owned by West Conshohocken, Pa.-based Ironwood Property Group and leased by Metro Commercial Real Estate, was almost six years in the making, and features a site that shares a traffic signal with a 250,000-sq.-ft. Cabela’s store.
Tilden Ridge Shopping Center is 98% pre-leased and includes, besides Wal-Mart and Lowe’s, the following retailers: AT&T Wireless, Five Guys Burgers & Fries, GNC, GO Wireless (Verizon), LA Nail Spa, Logan’s Roadhouse, Pet Supplies Plus, Philly Soft Pretzel Factory, Schuylkill Valley Sports., Sleepy’s, GameStop, Great Clips, J.A. Buffet and Wawa.
There are limited leasing opportunities remaining, which include restaurant pad sites and a Phase II inline space construction of 12,600 sq. ft.
During one of the worst economic times in recent history, Wal-Mart, Lowes and the other retailers committed to Tilden Ridge as a part of their limited expansion plans. This commitment shows the magnitude of the site and the success anticipated while bringing the total retail GLA in the market to almost 1 million sq. ft. and over 6.5 million visitors to Cabela’s largest retail facility.
Report: Borders plans to pay $8.3 million in bonuses
New York City — Borders Group, which filed Chapter 11 bankruptcy in February and has announced plans to close about a third of its stores, said it plans to pay key employees as much as $8.3 million in incentives and retention bonuses, Bloomberg reported.
The retailer asked a judge to approve its plan in a filing Thursday in U.S. Bankruptcy Courty in New York. Borders said it has historically compensated employees through incentives.
The size of the awards would be calculated after the company files a reorganization plan or gets approval for a sale of the company, according to the report.
Under the incentive program, Borders CEO Michael Edwards, would get as much as $1.7 million in bonuses, according to the filing.
SPECS 2011 puts focus on business partnering and networking
New York City — Optimism was in the air at Chain Store Age’s 47th annual SPECS conference, in Grapevine, Texas. Spirits were up, and so was attendance, dramatically so, among both the show’s attendees and exhibitors.
As the premier event for store development and facilities professionals, SPECS brought together the top retail and restaurant chains and suppliers in the industry for three and a half days of learning, business partnering and networking. Attendees said they were seeking new solutions and innovative ideas, and suppliers responded by showcasing the latest in planning and design, construction and facilities management product and services on the exhibit floor. The second annual Face-to-Face Information Exchange, a rotating series of one-on-one meetings between retailers and suppliers, proved a big hit.
The educational program addressed the challenges of the day, from disaster preparedness and recovery to recently-enacted revisions to the ADA to green construction. The comprehensive program also included sessions on such justifying renovation projects, real world applications of BIM, and LEDs, to name just a few.
SPECS is designed to foster cooperation, and that’s sprit was very much in evidence at this year’ show. Planning is already underway for SPECS 2012, which will be held at Gaylord Palms Resort, Kissimmee, Fla.