Toys ‘R’ Us to open FAO Schwarz pop-up stores
Wayne, N.J. Toys “R” Us said Wednesday that it will open 10 FAO Schwarz pop-up stores for the holidays, a move that dovetails with the toy retailer’s recent announcement that it is opening 600 Toys “R” Us pop-up stores in time for the 2010 holiday season.
Toys “R” Us, which bought the assets of FAO Schwarz after it filed for bankruptcy protection in 2009, already has an in-store section for FAO Schwarz-branded toys. The new FAO pop-up stores, two of which have already opened, will be at high-end malls such as Aventura Mall in Aventura, Fla.
“In a difficult economy, the smart thing to do is push forward,” CEO Jerry Storch said.
The pop-up stores are slated to close in January, but Storch said there is a possibility they could remain open.
Former Circuit City renovated for new Ashley Furniture
Hawthorne, Calif. Colton, Calif.-based Hodgdon-Miank Construction said it has completed a major renovation of the former Circuit City in Hawthorne, Calif., for a new Ashley Furniture HomeStore, which celebrated its grand opening on Sept. 1.
The 33,952-sq.-ft. retail building features a 65-ft.-tall architectural element for interstate visibility. In addition to the exterior modification, the interior was gutted and redesigned to accommodate the new furniture store.
KTGY Group, Architecture and Planning, served as the project architect for the project.
Jones Lang LaSalle secures $18.5M refinancing for S.C., center
Spartanburg, S.C. Chicago-based Jones Lang LaSalle announced it has secured $18.5 million in refinancing capital for Centro Properties Group’s Hillcrest Shopping Center in Spartanburg, S.C.
The Real Estate Investment Banking practice of JLL secured a five-year, fixed-rate loan for the 384,306-sq.-ft. grocery-anchored shopping center from lender Quadrant Real Estate Advisors.
Hillcrest Shopping Center is anchored by a Publix supermarket and is currently 76% leased.