REAL ESTATE

Wisconsin to gain new Walmart, Macy’s and Target

BY Staff Writer

Milwaukee — A Wednesday report by the The Business Journal of Greater Milwaukee said that the Village of Greendale (Wis.) has approved a Walmart and garnered one of several approvals needed for a Macy’s at the village’s board meeting held Tuesday.

The board approved rezoning, a special use permit and other plans needed for a 92,000-sq.-ft. Walmart slated to include a pharmacy and grocery with two out-lots for future developments.

Gatlin Development Co., the company that’s developing the store for Wal-Mart Stores, didn’t give an estimated groundbreaking date, but Scott Satula, village director of inspection services, expects it to be soon, he said.

The village also approved exterior changes at Southridge Mall for the addition of a Macy’s department store. Macy’s still needs approval for interior changes, Satula said.

In related news, the Brookfield (Wis.) Common Council unanimously approved a rezoning request and site plan Tuesday for a 140,000-sq.-ft. Target store, Quebecor World a second-to-last step before final approval.

The store is part of a larger plan for a retail strip proposed by Ryan Cos. US, of Minneapolis, which could eventually include a restaurant, junior anchor tenant, bank and other retail stores.

The addition of a big-box retailer caused some concern among the city council and residents, and the council asked for several changes to the original plan from Ryan Cos., including greater architectural detail and landscaping enhancements. The requested changes were included in the approved site plan, according to Dan Ertl, director of community development.

Groundbreaking on the Target store is slated for Aug. 31, with store opening projected for October 2012.

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REAL ESTATE

Readers Speak Out: Is Fifth Ave. real estate worth the expense?

BY CSA STAFF

In the June 9 edition of SiteTalk, we referenced a survey that found Fifth Avenue in Manhattan to be the most expensive place in the world to operate a store — and asked you if it was worth the expense. Here is what one reader had to say.

“It’s no secret that I love my hometown, and that my work here has been very good to me. But I am truly being objective when I say that yes, of course it’s worth it! New York is the financial and de facto capital of the world, and Fifth Avenue is its historical retail core. To locate here is to indicate that you’ve arrived among the great international retailers in the world — after all, your neighbors include Saks Fifth Avenue, Giorgio Armani, Tiffany, Cartier, and Bergdorf Goodman. Is a Fifth Avenue store expensive? Yes. Does it show that you’re successful enough to afford it? Yes. Is the cachet a Fifth Avenue address conveys profitable? Yes, yes yes."

— Faith Hope Consolo
Chairman
Retail Leasing, Marketing and Sales Division
Prudential Douglas Elliman
New York, N.Y.

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REAL ESTATE

Chico’s, Soma make outlet debuts in Kansas City area

BY Katherine Boccaccio

Kansas City, Kan. — Legends Outlets Kansas City said Wednesday that the region’s first Chico’s Outlet and Soma Intimates Outlet will open on June 24 at the Kansas City outlet shopping destination.

The Chico’s Outlet’s new store will be located between BCBG MaxAzria and Five Guys Burgers & Fries, and the Soma Intimates Outlet’s new store will be located between Gymboree and Claire’s.

The Chico’s store will be Chico FAS’s first Chico’s Outlet in both Kansas City and Kansas, and Soma’s first outlet in Kansas and Missouri.

The two new stores join other recent opening announcements at Legends, including J. Crew Factory, Saks Fifth Avenue Off 5th and Under Armour Factory House, all slated to open during the summer.

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