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Wayfair
Company newsDevelopmentLeasingNew YorkNews

Wayfair to Open 114,000-Square-Foot Store in Metro New York

by Abby Cox

Yonkers, N.Y. — Online retailer Wayfair will open a 114,000-square-foot store in the New York City suburb of Yonkers. Located within Ridge Hill, a 1.3 million-square-foot mixed-use development, the Yonkers store marks Wayfair’s third large-format location, which is scheduled to open in early 2027. Wayfair’s first physical retail store opened in May 2024 in Wilmette, Illinois, while its second location in Atlanta will open in 2026. Adam Schwegman and Morgan Liesenfelt of Jamestown led lease negotiations in the transaction. A joint venture between Jamestown, Nuveen Real Estate and Taconic Partners …

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Herald Towers
LeasingNew YorkNews

JEMB Realty Secures 55,000-Square-Foot Retail Lease for Old Navy Flagship Store in Manhattan

by Abby Cox

New York City — JEMB Realty (JEMB) has secured a 55,000-square-foot lease for Old Navy at 50 West 34th St. at the center of Herald Square in Manhattan. The space — which was formerly occupied by Samsung and the Harry Potter Experience — spans two floors and will serve as a flagship store for the brand. The retail lease is the largest in New York City so far this year, according to JEMB. Ariel Schuster of Newmark, along with Gap Inc.’s real estate team, represented Old Navy, while LMJ Realty, a …

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Skechers-Manhattan-Beach-Flagship-Store
CaliforniaCompany newsNew YorkNews

3G Capital Agrees to Acquire Skechers for $9.4 Billion, Take Company Private

by Abby Cox

Manhattan Beach, Calif. and New York City — Global investment firm 3G Capital has entered into an agreement to acquire footwear brand and retailer Skechers USA Inc. The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 …

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Investment salesNew YorkNews

Acadia Realty Acquires Three Retail Storefronts in New York for $61 Million

by Abby Cox

Brooklyn, N.Y. — Acadia Realty Trust has acquired three retail storefronts totaling approximately 13,600 square feet in the Williamsburg neighborhood of Brooklyn. Acadia now owns seven storefronts along North 6th Street, including the most recent acquisitions of 95, 97 and 107 North 6th Street. Brendan Maddigan, Ethan Stanton and Michael Mazzara of JLL represented Acadia Realty Trust, and the seller, City Urban Realty, in the transaction.

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Shoppes at Westgate
Investment salesNew YorkNews

Time Equities Acquires 62,049-Square-Foot Shopping Center in Rochester, New York

by Abby Cox

Rochester, N.Y. — New York City-based Time Equities Inc. (TEI) has acquired The Shoppes at Westgate, a 62,049-square-foot shopping center located in Rochester, for $6.2 million. Originally built in 1958 and renovated in 1986, the property is shadow-anchored by a Walmart Supercenter. Tenants at the center, which was 91 percent leased at the time of sale, include Ross Dress For Less, Bath & Body Works, Citi Trends and Citizens Bank. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith of TEI represented the firm in the transaction. Ben Snyder and …

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ShopRite Staten Island
Grocery-anchoredLeasingNew YorkNews

ShopRite to Anchor Staten Island’s Evergreen Plaza

by Abby Cox

New York City — North Plainfield, New Jersey-based Levin Management Corp. (LMC) has negotiated a 62,000-square-foot lease with ShopRite at Evergreen Plaza on Staten Island. A new ShopRite grocery store will backfill an anchor space that was formerly occupied by SuperFresh. Mannix Family Markets will operate the new store, which is scheduled to open this fall. Mannix Family Markets also operates three additional ShopRite locations in the Graniteville, New Dorp and Charleston neighborhoods. LMC represented the landlord in the lease negotiations. Retailer-owned supermarket cooperative Wakefern Food Corp. is the tenant.

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Family Dollar
Company newsNew YorkNewsOperationsVirginia

Dollar Tree to Sell Family Dollar Business for $1 Billion

by Abby Cox

Chesapeake, Va. and New York City — Dollar Tree Inc. has agreed to sell the Family Dollar business segment to Brigade Capital Management LP and Macellum Capital Management LLC for $1 billion. The sales price represents a fraction of the $8.5 billion that Dollar Tree paid for the discount brand in 2015. Family Dollar will remain headquartered in Chesapeake. Family Dollar, which caters to low-income customers with its roughly 8,000 U.S. stores, has struggled in recent years. In March 2024, Dollar Tree unveiled plans to close approximately 970 underperforming Family Dollar …

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Meow Wolf
Architecture and DesignCompany newsDevelopmentEntertainmentNew YorkNews

Meow Wolf to Open 75,000-Square-Foot Entertainment Venue in Lower Manhattan

by Abby Cox

New York City — Immersive arts and entertainment company Meow Wolf will open a 75,000-square-foot entertainment venue in Lower Manhattan. The space will span multiple stories within Pier 17, an entertainment destination in the Seaport District. Construction is scheduled to begin in the third quarter of 2025, with an expected completion date to be announced later. Founded in 2008 in Santa Fe, New Mexico, Meow Wolf has expanded to Las Vegas, Denver, Dallas and Houston, with additional locations in Los Angeles and now, New York City. Mary Ann Tighe, Gerry Miovski, …

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Company newsIllinoisNew YorkNews

Sycamore Partners Agrees to Acquire, Privatize Drugstore Giant Walgreens in Multibillion-Dollar Deal

by Abby Cox

Deerfield, Ill. and New York City — Walgreens Boots Alliance (WBA) has entered into a definitive agreement to be acquired by an entity affiliated with private equity firm Sycamore Partners. The total value of the transaction is $23.7 billion, according to WBA, including an equity value of $10 billion, as well as debt, capital leases and potential future payouts from the opioid and Everly Health Solutions COVID-19 testing settlements. Upon completion of the transaction, which is expected to close in the fourth quarter of 2025, WBA common stock will be …

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Retail property in Queens
Investment salesNew YorkNews

Marcus & Millichap Brokers Sale of 14,257-Square-Foot Retail Property in Queens

by Abby Cox

Queens, New York — Marcus & Millichap has brokered the $4.4 million sale of a 14,257-square-foot retail property in the Jamaica neighborhood of Queens. The three-story property, which was vacant at the time of sale, features 9,280 square feet of ground-floor retail space and roughly 5,000 square feet on the top floors of the building. The property also includes up to 61,920 buildable square feet for residential use. Scott Plasky and Billy Stephan IV of Marcus & Millichap’s Manhattan office marketed the property on behalf of the undisclosed seller and …

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