REAL ESTATE

Bluemercury rides beauty boom with store expansion

BY CSA Staff

With sales of premium beauty products on the rise, Bluemercury shows no signs of losing its momentum.

The beauty retailer, which was acquired by Macy’s in 2015, plans to open about 25 stores this year, and another 30 in 2019, reported Bloomberg. The expansion will give Bluemercury a total of some 215 stores. (The retailer also is opening in-store locations at Macy’s.)

Bluemercury is using technology to give it an edge. It is expanding its within-an-hour delivery service from New York to Los Angeles, and also developing phone-recognition software to identify customers as they enter a store, the report said, with the intent of sending the customer product suggestions based on recent purchases.

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CBRE adds three to its New York retail team

BY Al Urbanski

Looking to expand its activity in New York’s outer boroughs, CBRE has added a trio of local leasing pros to its industrial and retail real estate team in the city.

Brad Cohen, Jacob Tzfanya and Jon Kamali, all formerly of Eastern Consolidated, recently represented Realterm Logistics in its purchase of Modell’s 300,000-sq.-ft. warehouse in the Morris Park section of the Bronx. The team also negotiated the acquisition of Bulova’s 83,000- sq.-ft. headquarters in Woodside, Queens, on behalf of Terreno Realty.

“New York’s outer boroughs have become an even more strategic market amid the rise of e-commerce, given the boroughs’ location within the largest U.S. metropolitan area,” said Adam Mullen, leader of CBRE’s Industrial & Logistics practice.

Cohen and Tzfanya join CBRE as senior VPs, Kamali, will serve as a senior associate.

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1.5 million-sq.-ft. New Jersey mall to close

BY CSA Staff

When its last surviving tenant, Sears, closes in September, so too will the Marketplace at Burlington in New Jersey.

Once a strong regional draw in this town located between Trenton and Philadelphia, the former Burlington Center Mall owned by Moonbeam Capital LLC flourished with 1.5 million sq. ft. of retail. Now local government officials are left to seek a new use for this huge tract in the middle of their community.

“The site has become obsolete, meaning it no longer serves the retail market as an enclosed mall, and subsequently has become vacant and deteriorated,” Mark Remsa, Burlington County’s director of economic development, told NJ.com. “The site is ready for redevelopment.”

Under consideration are a mixed-use development including retail or a warehouse park.

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