REAL ESTATE

Yigal Azrouel to open first freestanding store in Soho

BY Staff Writer

New York City — Apparel designer Yigal Azrouel will open its first freestanding store, for its Cut25 lower-priced, younger collection, in the Soho South area of Manhattan.

Prudential Douglas Elliman’s Retail Group arranged a lease at 129 Grand Street, between Broadway and Crosby Street, for the new store. The opening date hasn’t yet been announced.

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REAL ESTATE

Target finalizes its real estate in Canada; signs deal with Sobeys

BY Katherine Boccaccio

Minneapolis — Target Corp. said Friday that it has finalized its real estate transaction with Canadian retailer Zellers with the selection of 84 additional Zellers leases. Target Canada will open between 125 and 135 stores, most by 2013. The discounter also entered into a deal with Sobey’s, Canada’s second largest supermarket chain, to supply its stores with food.

The latest lease acquisition brings the total number of leases selected to 189. From the 84 latest leases, Target said it has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013. The remaining leases have been or will be sold to other Canadian retailers or back to landlords.

Target announced in January that it would purchase, for $1.84 billion, the leasehold interests of up to 220 sites currently operated by Zellers, a subsidiary of Hudson’s Bay Co. In May, Target selected an initial group of 105 leases, with most rebranding to Target stores beginning in 2013.

The 84 leases announced Friday are part of Target’s second and final selection, and include the 39 leases for which Target transferred the rights to Walmart, as announced in June. As part of its transaction with Walmart, Target acquired the lease for one of Walmart’s vacant properties, which will open as a Target store.

Target also said Friday it had signed a long-term wholesale supply agreement with Sobeys to supply its stores with select food and grocery products.

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REAL ESTATE

Casual Male to open 12 DXL stores in 2011, 20 to 30 in 2012

BY Marianne Wilson

Canton, Mass. — Casual Male Retail Group has opened its eighth DestinationXL (DXL) location to date, in Westport, Conn. DXL is Casual Male’s new superstore format, housing Casual Male’s four existing apparel businesses: Casual Male XL, Rochester Big & Tall, Shoes XL and B&T Direct.

The company plans to open up to 12 DXL stores during the balance of 2011, another 20-30 stores during 2012 and approximately 100 stores over a four to five year period.

Also, the retailer will soon launch a DXL website, with a multichannel solution similar to the DXL store experience, catering to the many fashionable needs of today’s big & tall man.

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