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REAL ESTATE

Supervalu to debut urban store format

BY Marianne Wilson

Supervalu, through its Cub division, will unveil a new grocery format in Minneapolis.

Cub will open a 46,000-sq.-ft. store in spring 2019 that will anchor a five-story, 148-unit apartment development planned for the Longfellow neighborhood of Minneapolis.

“This store brings a great new concept to the CUB portfolio as it will be our first store embedded into a residential complex,” said Anne Dament, executive VP of retail, marketing, and private brands at Supervalu “We’re evolving our look and feel while showcasing new shopping innovations for a better experience for our customers. We feel this new format Cub is a perfect fit for this neighborhood.”

The store will offer a versatile, modern design that will meet the needs of the traditional shopper while providing solutions for time-strapped ones as well, the company said. It will feature a large deli area with made-to-order meals, a theater-feel popcorn shop, a farmer’s market layout in the produce section, enhanced floral gift space, and a pharmacy.

With planning for multiple entrances and indoor café-style spaces that welcome guests to take a break or plug-in for work, the 46th and Hiawatha store will accommodate a variety of lifestyles.

It will also feature indoor café-styles spaces where customers can relax or plug in to work, and an outdoor seating area, complete with bicycle parking and walk-up window serving coffees, ice creams, and other treats.

“We’re very excited to see the culmination of over a year of planning and development,” said Drew Johnson, VP of Oppidan Investment Company, developer of the building. “Cub has done a great job responding to and incorporating stakeholder feedback into their store design.”

Cub, which was founded in 1968 and purchased by Supervalu in 1980, operates 80 grocery stores in Minnesota and Illinois.

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R.Layman says:
Mar-08-2018 09:00 am

In the Minneapolis market, even food co-ops and Aldi are on ground floors in a mixed use building. Cub is late to the party.

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REAL ESTATE

Brokers + Engineers taps New York office director

BY Al Urbanski

Daniel Zimmerman has joined the New York Office as a director of Brokers + Engineers, a newly formed firm that brokers triple-net – lease properties using a proprietary technology platform.

Zimmerman spent the last 10 years as an acquisitions consultant to United Trust Fund, the oldest privately held net lease real estate investment firm. In his time there, he oversaw more than $1 billion in net lease closings. Zimmer began his career on Wall Street, and is a former senior vice president of Kemper Securities.

Brokers + Engineers uses a tech platform driven by artificial intelligence to perform such functions as predictive pricing and tax advisory in helping clients locate and secure triple-net-lease properties.

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Staten Island outlet center is 70% leased

BY Al Urbanski

The 340,000-sq.-ft. project that promises to be New York City’s first and only outlet center when it opens in 2018 is 70% leased, according to developer BFC Partners.

Samsonite became the latest signee at Empire Outlets, part of a Staten Island renaissance in the making near the St. George Ferry Terminal, which greets more than 23 million passengers a year. Samsonite joins Nordstrom Rack, Columbia Sporting Goods, Gap Factory, H&M, and Banana Republic among the 100-plus retailers expected to populate the center.

“I continue to try and deliver best in class brands to Empire Outlets that currently do not exist on the borough,” said James Prendamano of Casandra Properties, who is handling leasing for Empire Outlets. “Samsonite, which is sold in over 100 countries worldwide, is a case study for success in this endeavor.”

Plans call for a boutique hotel on the site, as well as a restaurant row. Shake Shack and Artichoke Basille’s Pizza have signed leases, along with the food hall MRKTPL.

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