Tuesday, December 24, 2024
Read the Digital Magazines
Subscribe
Author

Alex Tostado

DevelopmentMinnesotaNewsRetailers

Kraus-Anderson Completes $58 Million Retail Sporting Goods Store for Scheels in Eden Prairie, Minnesota

by Alex Tostado

Eden Prairie, Minn. — Kraus-Anderson has completed construction of a 250,000-square-foot retail sporting goods store for Scheels at Eden Prairie Center in Minnesota. Designed by R.L. Engebretson Architecture, the $58 million, two-story store includes a 16,000-gallon saltwater aquarium, 45-foot-tall Ferris wheel as well as a Ginna’s Café and Fuzziwig’s Candy Factory. Scheels will offer a selection of sports, fashion and footwear. The sport shoe, hiking boot and casual footwear section is the largest in the region. The new store is expected to employ approximately 400 people. Scheels maintains a portfolio …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsPennsylvaniaRetailers

Adler Realty Acquires 67,215-Square-Foot Bensalem Crossing Retail Center Near Philadelphia

by Alex Tostado

Bensalem, Pa. — California-based Adler Realty Investments Inc. has acquired Bensalem Crossing, a 67,215-square-foot retail center located on the northeastern outskirts of Philadelphia, for $11.5 million. The center is leased to three tenants: anchor and grocer ShopRite, CVS and a wireless telecommunications provider. Jim Galbally, Chris Munley and Colin Behr of JLL represented the New York City-based seller in the transaction. Chad Orcutt, Brian Halpern and Mike Pagniucci of JLL arranged $7.1 million in acquisition financing on behalf of Adler Realty.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsRetailersTexas

J.C. Penney Cuts 1,000 Jobs, Begins Talks With Potential Buyers

by Alex Tostado

Plano, Texas — J.C. Penney Co. announced on Wednesday that it would reduce its workforce by approximately 1,000 corporate, field management and international positions as part of its store optimization and restructuring plan. The Plano-based retailer, which employs about 90,000 people worldwide, filed for Chapter 11 bankruptcy in May and announced plans to close about 150 stores two weeks later. According to CNBC, J.C. Penney has reached an agreement with its creditors to extend submission of its new business plan and identify potential investors in the business. The network reports that mall developers Simon Property …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentGrocery-anchoredNewsRetailersWashington DC

Whole Foods Market to Open 46,000-Square-Foot Store in Northern D.C. on July 23

by Alex Tostado

Washington, D.C. — Whole Foods Market will open a new location July 23 in Washington, D.C. The new 46,000-square-foot grocery store will be situated at 967 Florida Ave. NW in D.C.’s Pleasant Plains neighborhood, less than two miles north of downtown D.C. and less than one mile from Howard University. The new store will offer a full-service butcher, bakery, produce department and a seafood counter. Amazon Prime members who shop at the location will have access to two-hour delivery on certain items, as well as a 10 percent discount on …

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaInvestment salesNewsRetailers

Marcus & Millichap Brokers $2.2 Million Sale of Big 5 Sporting Goods-Occupied Retail Building in Arizona

by Alex Tostado

Maricopa, Ariz. — Marcus & Millichap has arranged the sale of a retail property located at 41800 W. Maricopa-Casa Grande Highway in Maricopa. A limited liability company sold the building to undisclosed buyer for $2.2 million. Big 5 Sporting Goods occupies the property on a net-leased basis. Mark Ruble, Chris Lind and Jamie Medress of Marcus & Millichap represented the seller in the deal.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNew YorkNewsRetailers

PVH to Close 162 Outlet Stores, Reduce Office Workforce by 12 Percent

by Alex Tostado

New York City — In a move to streamline its North American operations and adapt to an evolving retail landscape that has been accelerated by the COVID-19 pandemic, PVH Corp. (NYSE: PVH) announced Tuesday that it will close all of its 162 Heritage Brands outlet stores and reduce its office workforce by approximately 450 positions, or 12 percent. PVH’s Heritage Brands include Van Heusen, Izod, Arrow, Warner’s, Olga and Geoffrey Beene. The Heritage Brands retail locations are expected to operate through mid-2021. The workforce reductions, which are spread across all …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNew YorkNewsRetailers

RTW Retailwinds, Parent Company of New York & Co., Files for Chapter 11 Bankruptcy

by Alex Tostado

New York City — RTW Retailwinds Inc. (RTW), parent company of women’s apparel chains New York & Co., Fashion to Figure and Happy x Nature, has filed for Chapter 11 bankruptcy protection along with its subsidiaries. The filing came Monday in the U.S. Bankruptcy Court for the District of New Jersey. The company expects to close a significant portion, if not all, of its 378 brick-and-mortar stores and has launched a store closing and liquidation process. In the near term, however, New York City-based RTW will continue to operate its …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFloridaNewsRetailers

Sleiman Enterprises to Renovate Three Historic Retail Buildings in Jacksonville

by Alex Tostado

Jacksonville, Fla. — Sleiman Enterprises will renovate three historic retail buildings in Jacksonville’s San Marco Square. The buildings were built in 1926 and 1927, and are located at 1974, 1980 and 1972 San Marco Blvd., two miles south of downtown Jacksonville. Marsh & Saxelbye originally developed the property, which locally based Sleiman Enterprises acquired in August 2019. The two-story, 8,200-square-foot building situated at 1974 San Marco Blvd. is currently vacant. A Starbucks Coffee occupies the space at 1980 San Marco, and a Beau Outfitters leases the building at 1972 San …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsRetailers

NewMark Merrill Mountain States Co-Founder Allen Ginsborg Dies at Age 59

by Alex Tostado

Woodland Hills, Calif. — Chairman and co-founder of NewMark Merrill Cos. Inc.’s Mountain States division Allen Ginsborg has died at the age of 59. Ginsborg is survived by his wife, Jeanne; sons Josh, Jake and Joey; and daughter, Jackie. In April 2008, Ginsborg and Sandy Sigal, CEO of NewMark Merrill Mountain States, founded Mountain States to develop and acquire shopping centers in Colorado. According to a press release from the company, Ginsborg’s proudest accomplishment was the redevelopment of Twin Peaks Mall in Longmont, Colorado. The $100 million redevelopment turned the …

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsWashington DC

NRF Survey: Back-to-School Spending Could Reach Record Levels as Families Gear Up for At-Home Learning Amid Pandemic

by Alex Tostado

Washington, D.C. — The novel coronavirus could result in record-levels in spending for back-to-school supplies as families across the country are expected to buy more electronics to prepare for at-home learning, a survey conducted by the National Retail Federation (NRF) and Prosper Insights & Analytics has found. Major school systems around the country, including the Ivy League, Los Angeles Public School District, Atlanta Public Schools, New York City Public School system and the University of California school system have announced virtual learning or a hybrid of in-person and online classes …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts