Content about Property

May 29, 2014

Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

New York — Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

The retailer has stores in affluent areas along the east and west coasts, from Boca Raton, Fla., to Annapolis, Md., and White Plains, N.Y., to Roseville, N.Y., and Palo Alto, Calif.

 

May 1, 2014

Vestar has appointed Clint Marchuk VP of acquisitions.

Phoenix — Vestar has appointed Clint Marchuk VP of acquisitions. His responsibilities include identifying, evaluating and carrying out shopping center acquisitions in Arizona, Utah, Colorado, New Mexico and Texas.

December 26, 2013

Devonshire REIT has acquired five retail properties in Ohio for $31 million. The properties include:

Whitehouse, Ohio — Devonshire REIT has acquired five retail properties in Ohio for $31 million. The properties include:

•    Monroe Street Square Shopping, a 124,904-sq.-ft. center in Toledo, Ohio, anchored by Hobby Lobby. Tenants include Sally Beauty Supply, Gamestop, Play It Again Sports and Sprint PCS.

•    Bed Bath & Beyond Plaza, a 100% leased, 55,139-sq.-ft. center in Toledo, anchored by Bed Bath & Beyond. Tenants include SalonCentric and Edward D. Jones.

November 11, 2013

Retro Fitness and Chipotle have signed long-term leases at West Orange Plaza in West Orange, N.J., according to Levin Management, which represented the landlord in the transaction.

West Orange, N.J. — Retro Fitness and Chipotle have signed long-term leases at West Orange Plaza in West Orange, N.J., according to Levin Management, which represented the landlord in the transaction.

Retro Fitness took 14,115 sq. ft. and was represented by Katz & Associates. Represented by Winick Realty Group, Chipotle leased 2,557 sq. ft.

November 4, 2013

American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.

New York -- American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.

ARCP has secured $2.75 billion in fully committed financing from Barclays. The loan is expected to close in the first half of next year.

Updated ARCP pro forma 2014 guidance indicates that adjusted funds from operations will move from $1.13 to $1.19 per share, compared with 2013 guidance of $0.91 to $0.95 per share.

October 4, 2013

While online retail sales continue to rise, regional malls continue to generate profits, according to an SNL Financial LC analysis.

New York -- While online retail sales continue to rise, regional malls continue to generate profits, according to an SNL Financial LC analysis.

The U.S. Census Bureau has estimated that retail e-commerce sales for the second quarter of 2013 grew by 4.9% over the prior quarter to $64.8 billion, an 18.4% gain over the preceding 12 months. Still, e-commerce accounts for less than 6% of retail sales, according to SNL (www.snl.com).

August 8, 2013

Chain Store Age sat down with Stephen L. Hittman, CEO, Crossroads Cos., to discuss best practices for developing supermarket-anchored centers. Here’s what he had to say:

Over his 34-year commercial real estate career, Stephen L. Hittman has been developing supermarket-anchored shopping centers for 20 of those years. In 2001, he founded Crossroads Companies. As president and CEO of Crossroads, he has built a regional portfolio of supermarket-anchored centers valued at more than $200 million.

August 5, 2013

During July, SRS Real Estate Partners www.srsre.com executed a host of transactions in major cities across the country:

Dallas — During July, SRS Real Estate Partners executed a host of transactions in major cities across the country:

June 27, 2013

Madewell, a J. Crew concept, has signed its first lease in Center City Philadelphia, according to broker Fameco Real Estate.

Philadelphia -- Madewell, a J. Crew concept, has signed its first lease in Center City Philadelphia, according to broker Fameco Real Estate. The 4,000 sq.-ft. store will be located near Rittenhouse Square. Neighboring retailers include Intermixx, Burberry, Athleta and Blue Mercury. Fameco and Open Realty Advisors both represented Madewell in the transaction.

Both brokers are also representing searching for a 2,500-sq.-ft. location for J. Crew Men on Walnut Street in Philadelphia.

 

June 6, 2013

Jones Lang LaSalle Retail Group said that vacancy rates should fall far enough to enable some landlords in every U.S. market to demand slightly higher rents — at some point over the next six months.

Atlanta -- Jones Lang LaSalle Retail Group said that vacancy rates should fall far enough to enable some landlords in every U.S. market to demand slightly higher rents — at some point over the next six months.

May 9, 2013

Canadian Tire Corp. plans to spin off most of its real estate assets into a C$3.5 billion (approximately U.S. $3.49 billion) real estate investment trust, with an initial public offering expected later this year.

Toronto -- Canadian Tire Corp. plans to spin off most of its real estate assets into a C$3.5 billion (approximately U.S. $3.49 billion) real estate investment trust, with an initial public offering expected later this year. The proposed new REIT would acquire a majority of the company's owned real estate, including approximately 250 properties comprised largely of Canadian Tire Retail stores, Canadian Tire anchored retail developments and one distribution center.  

May 7, 2013

The Glimcher Realty Trust pipeline is filled with open-air centers. "We're seeing a lot of opportunity in the market and even our own portfolio with open-air right now," said Michael P. Glimcher, chairman and CEO, Columbus, Ohio-based Glimcher.

Over the last three years, Glimcher has acquired five properties. Four were open-air. Today, open-air centers account for about 20% of the company's 29 properties.

Recently, Glimcher shared his insights about open-air and enclosed centers with Chain Store Age contributing writer Michael Fickes.

April 25, 2013

SRS Real Estate Partners and Cresa announced an agreement to form a new company to perform lease administration services for retail, office and industrial clients.

Dallas -- SRS Real Estate Partners and Cresa announced an agreement to form a new company to perform lease administration services for retail, office and industrial clients.

The new company will be known as SRS-Cresa Lease Administration, and will deliver a spectrum of lease administration services including critical date management, CAM audits, occupancy cost reconciliations, and full portfolio lease administration services out of currently established offices in Dallas and in Chicago.

 

March 4, 2013

NAI MLG Commercial announced that Tim Janusz and Brett Garceau have been promoted to VP.

Milwaukee -- NAI MLG Commercial announced that Tim Janusz and Brett Garceau have been promoted to VP.

Janusz specializes in office landlord and tenant representation, and Garceau specializes in the lease and sale of industrial properties.

 

September 24, 2012

By Sandra Gold Slon, attorney, Los Angeles-based TroyGould

By Sandra Gold Slon, attorney, Los Angeles-based TroyGould

August 23, 2012

By James H. Donell, CPM CCIM

By James H. Donell, CPM  CCIM, James.Donell@FedReceiver.com

When a commercial real estate property goes into foreclosure, the effects can be damaging for all parties involved – not only for the owner of the property who has defaulted, but also the lender and any additional creditors who may have a lien on the property.

August 15, 2012

Last June, two organizations — Retail Industry Leaders Association and International Council of Shopping Centers — co-sponsored a sustainability initiative that ultimately would set the bar for landlord/tenant partnerships.

The last 14 months haven’t been without bumps. Forging positive, mutually beneficial programs that involve cooperation from shopping center owners and their retail tenants has long been one of this industry’s greatest — and most frustrating — challenges.

April 25, 2012

One of the biggest storylines in retail over the past few months has been the legitimately good news that retailers are finally back in the hunt for space.

By Jason S. Baker

April 19, 2012

Divaris Real Estate Inc. announced the following lease transactions were completed for several retail tenants:

Virginia Beach, Va. -- Divaris Real Estate Inc. announced the following lease transactions were completed for several retail tenants:

A lease extension was signed with Tidewater Finance Co. for 25,516 sq. ft. of retail space in the DRE-leased and –managed Tidewater Plaza in Virginia Beach.

March 23, 2012

The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

Philadelphia -- The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

Coradino has been with PREIT and a predecessor company for three decades, serving since 2004 as president of PREIT Services, LLC and PREIT-Rubin, Inc., and as a member of the office of the chairman. He has been a trustee of PREIT since 2006.

February 27, 2012

Jones Lang LaSalle announced that John Stevens joined the firm’s San Francisco office as VP leasing specialist.

San Francisco -- Jones Lang LaSalle announced that John Stevens joined the firm’s San Francisco office as VP leasing specialist. A 25-year veteran of commercial real estate, Stevens will focus on leasing space in the firm’s 12 million-sq.-ft., third-party retail portfolio on the West Coast.

January 3, 2012

The struggling housing market, weak job growth and ongoing consumer deleveraging caused the retail market to lag other property sectors in 2011, according to Grubb & Ellis Co.’s 2012 National Real Estate Forecast, which predicts a year of slow but continued growth for all commercial real estate property sectors.

Santa Ana, Calif. -- The struggling housing market, weak job growth and ongoing consumer deleveraging caused the retail market to lag other property sectors in 2011, according to Grubb & Ellis Co.’s 2012 National Real Estate Forecast, which predicts a year of slow but continued growth for all commercial real estate property sectors.

September 27, 2011

Lending to retailers is once again on the rise, as capital flows back into the market and retailers that stayed afloat during the recession look to strengthen their competitive positions. During the economic downturn, the more nimble and savvy retailers cut costs, reduced inventory levels, renegotiated leases and closed underperforming stores. 


September 23, 2011

Welco Realty, an X Team Partner, said it has arranged a lease representing Pier 1 Imports for Rego Center, in Queens, N.Y., for 8,500 sq. ft.

New Rochelle, N.Y. -- Welco Realty, an X Team Partner, said it has arranged a lease representing Pier 1 Imports for Rego Center, in Queens, N.Y., for 8,500 sq. ft.

The firm represented both the landlord and tenant for leases at Bay Plaza Shopping Center, Bronx, N.Y., for 9,599 sq. ft. and at Summerhill Square, in East Brunswick, N.J., for 9,000 sq. ft.
 

August 11, 2011

Jones Lang LaSalle announced it has been chosen for 13 new retail services assignments including property management, leasing and accounting services for a variety of owners throughout the United States.

Atlanta -- Jones Lang LaSalle announced it has been chosen for 13 new retail services assignments including property management, leasing and accounting services for a variety of owners throughout the United States.

During the first half of 2011, Jones Lang LaSalle has added 22 new retail assignments totaling more than 5.3 million sq. ft. of space.