Colonie, N.Y. — Three new tenants have signed leases at Northway Mall, a 480,000-square-foot retail center located in Colonie. Mattress Firm, Mission BBQ and Club Pilates have opened at the property, occupying 4,745; 4,329; and 1,846 square feet, respectively, in a space formerly occupied by Petco. Target and Lowes anchor Northway Mall, which is owned and managed by Olshan Properties.
White Plains, N.Y. — Apple Cinemas has signed an 80,000-square-foot lease at City Center in White Plains. The theater will offer stadium recliner seats, digital projection and sound and food-and-beverage options including burger concept BurgerFi. Don Mace of KeyPoint Partners represented the tenant in the lease negotiations.
Troy, N.Y. — Marcus & Millichap has brokered the $18 million sale of Hudson River Commons, a 129,059-square-foot shopping center located in Troy. Big Lots anchors the property, which is situated on a 12.2-acre site. Other tenants at the center, which was 97 percent leased at the time of sale, include Friendly’s, Sonic, Subway, Starbucks Coffee, Family Dollar and Saratoga National Bank. Joseph French and Kodi Traver represented the seller and procured the buyer in the transaction.
New York City — Outdoor lifestyle brand YETI has signed a 6,614-square-foot lease in Manhattan in New York City. Scheduled to open by early summer of this year, the store will occupy space on two levels of the building, which is situated across from Madison Square Park. Boston Properties is the landlord of the property. Ian Rice of SCG Retail, a division of TSCG, and Jordan Cohn of Ripco represented YETI in the lease negotiations. Alan Schmerzler and Steven Soutendijk of Cushman & Wakefield represented the landlord.
New York City — Hobby Lobby has opened a 42,000-square-foot store in on Staten Island in New York City. This marks the first location in the city for the brand, which has a portfolio of more than 1,000 stores throughout the US. Brian Katz and Daniel D. DePasquale of Katz & Associates represented Hobby Lobby with Graeme Keith of The Keith Group in the lease negotiations. Brookfield Properties is the landlord.
Seattle — Seattle-based retailer Nordstrom has announced plan to open 26 new Nordstrom Rack stores. Openings are scheduled to begin this spring and continue through spring 2025. The sites of the new stores include locations in Arizona, California, Florida, Georgia, Illinois, Indiana, Nebraska, New Jersey, New York, North Carolina, Ohio and Texas.
Lake Grove, N.Y. — Wegmans will open a 95,000-square-foot store as DSW Plaza in Lake Grove, marking the first Long Island location for the grocer. Scheduled to open early next year, the store will employ more than 500 people, according to the company, which currently operates 110 stores in eight states.
Austin, Texas — Whole Foods Market has announced plans to introduce new small-format, quick-shop stores. Called Whole Foods Market Daily Shop, the format is designed to offer a quicker customer experience, featuring produce, meat, seafood, prepared foods, bread, alcohol, supplements, local specialties and products from the 365 by Whole Foods Market brand. Stores will range from 7,000 to 14,000 square feet, between a quarter and half of the size of the average 40,000-square-foot Whole Foods store. Launching first in Manhattan later this year, the format is also scheduled to open in …
New York City — Macy’s Inc. (NYSE: M) has announced plans to close 150 of its namesake department stores over the next three years. According to the retail giant, these stores represent 25 percent of the company’s gross square footage as of fiscal year-end 2023 but only account for 10 percent of sales. (Macy’s fiscal 2023 ended Feb. 3, 2024.) Macy’s anticipates closing approximately 50 stores by the end of fiscal year 2024, the locations of which have not been disclosed, though CNBC reports some are located in California, Florida, Hawaii and Virginia. …
Rome, N.Y. — BWE has secured an $8 million loan for the acquisition of Freedom Plaza, a shopping center located in Rome in central New York. Tenants at the property, which totals 197,397 square feet, include Grand Union, Dollar Tree, Domino’s and Marshalls. Hobby Lobby is also scheduled to open at the property this year. Alan Tapie of BWE arranged the five-year, fixed-rate financing on behalf of the borrower, Octave Investment.
