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Smith Haven Mall
Architecture and DesignCompany newsLeasingNew YorkNews

Simon Unveils Plans for Multimillion-Dollar Transformation of Smith Haven Mall on Long Island

by Abby Cox

Lake Grove, N.Y. — Simon Property Group has unveiled plans for a multimillion-dollar transformation of Smith Haven Mall in the Long Island village of Lake Grove. The redevelopment project will feature improvements to both the interior and exterior of the mall, with the addition of new retailers, restaurants, a new outdoor plaza and amenities throughout the property. The redevelopment process will begin this summer and is scheduled for completion in 2026. “At Simon, we are committed to making significant investments across our portfolio to ensure that our centers continue to …

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LeasingNew YorkNews

Newmark Secures 12,000-Square-Foot Retail Lease for Blinds to Go Flagship Store in Manhattan

by Abby Cox

New York City — Newmark Retail has secured a 12,000-square-foot lease for window coverings company Blinds to Go at 116 Seventh Ave. in the West Chelsea neighborhood of Manhattan. The space — which was formerly occupied by furniture brand EQ3 — spans three floors and will serve as a flagship for the brand. Additionally, Blinds to Go has secured its first location in Manhattan’s Upper East Side neighborhood. The venue will open in early spring 2025, followed closely by the flagship store. Ariel Schuster and Mitch Heifetz of Newmark represented …

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Market 32 Grocer
Grocery-anchoredInvestment salesNew YorkNews

IPA Arranges Sale of Former ShopRite Retail Property in Albany, New York, for $23.8 Million

by Abby Cox

Albany, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a former ShopRite Supermarket located on the west bank of the Hudson River, for $23.8 million. The Golub Corp. — which operates supermarkets under the Price Chopper, Market 32 and Market Bistro banners — has assumed the lease for the property and secured a 15-year extension. This transaction marks the fifth ShopRite store that Golub has acquired in the Capital Region of New York. The newly renovated Market 32 Grocer opened in …

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New YorkNews

Nordstrom Rack to Open New Location in Lake Grove, New York

by Abby Cox

Lake Grove, New York — Fashion retailer Nordstrom Inc. will open a new 25,000-square-foot Nordstrom Rack at Smith Haven Plaza on Long Island. Scheduled to open in fall 2025, the store will be situated within the 150,000-square-foot Smith Haven Plaza. Other tenants at the shopping center include Trader Joe’s, Old Navy, Athleta and Ulta Beauty. Breslin Realty Development Corp. and Colin Development LLC, own Smith Haven Plaza.

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JOANN
Company newsFinanceNew YorkNews

JOANN Files for Second Chapter 11 Bankruptcy

by Abby Cox

New York City — Fabrics and crafts retailer JOANN, which operates roughly 800 stores in 49 states, has filed for Chapter 11 bankruptcy protection, marking its second filing within a year. JOANN first filed for bankruptcy in March 2024. According to a statement issued by the company, JOANN has faced “significant and lasting challenges in the retail environment,” as well as “constrained inventory levels.” The retailer’s current debt totals $615 million, according to CNN. The company is now planning to sell all its assets, with Gordon Brothers Retail Partners — …

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party-city
Company newsFinanceLeasingNew YorkNews

A&G to Auction 695 Party City Store Leases

by Abby Cox

New York City — A&G Real Estate Partners has announced plans to auction 695 Party City store leases in 44 states in its capacity as real estate advisor to the retailer. Party City Holdco Inc. (PCHI) first filed for Chapter 11 bankruptcy protection in January 2023 and announced in December 2024 that it would be liquidating and closing all stores. The leases range in size from roughly 7,000 to 46,000 square feet, with the spaces available for immediate occupancy. The bid deadline and auction are scheduled for early February. According …

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EntertainmentLeasingNew YorkNews

Newmark Arranges 80,300-Square-Foot Lease in New York City for ROUND1

by Hayden Spiess

New York City — Newmark has arranged an 80,300-square-foot lease for ROUND1, a Japan-based bowling and arcade concept, in New York City. Situated within the 700,000-square-foot The Shops at Skyview property, this will be the first venue in the city for the brand. David Friedman and Andrew Stern of Newmark Retail represented the tenant in the lease negotiations. According to Newmark, this marks the largest new retail lease in New York City this year. 

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Big-Lots-Inglewood-California-1
Company newsFinanceNew YorkNews

A&G Markets 255 Big Lots Store Leases For Sale

by Hayden Spiess

Melville, N.Y. — Melville-based A&G Real Estate Partners is accepting bids on 255 Big Lots store leases throughout the country as part of the retailer’s Chapter 11 restructuring. Of the leases, 51 are new to market. Big Lots initiated voluntary Chapter 11 bankruptcy proceedings Sept. 9 to facilitate a sale of substantially all of its assets and business operations. Ranging in size from 16,321 to 54,610 square feet, the leases are located across 41 states. Final bid deadlines for the leases, which A&G is offering in two groups, will be in …

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Rockefeller-Center
FinanceMixed-useNew YorkNews

Tishman Speyer Completes $3.5 Billion CMBS Refinancing of Rockefeller Center in Midtown Manhattan

by Hayden Spiess

New York City — Locally based real estate giant Tishman Speyer has completed the $3.5 billion refinancing of Rockefeller Center, a 7.3 million-square-foot mixed-use campus in Midtown Manhattan. Bank of America and Wells Fargo led the consortium of lenders that provided the CMBS financing, which carries a fixed interest rate of approximately 6.23 percent. Tishman Speyer will use the proceeds to pay off a 20-year, $1.7 billion CMBS loan and additional mezzanine financing that will mature in May 2025, as well as to fund reserves for contractual leasing costs. Rockefeller Center …

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DevelopmentMixed-useNew YorkNews

City of New Rochelle in New York Unveils Downtown Retail Strategy 

by Hayden Spiess

New Rochelle, N.Y. — The City of New Rochelle has unveiled new plans to advance retail, marking the latest phase in the mixed-use transformation of the city’s downtown. Redevelopment efforts are currently underway and have included $2.2 billion in private investment. The project, dubbed the Downtown Retail Strategy, will include the creation of Vanguard shopping district. The new strategy also includes a tenant improvement program that will provide $2.3 million in grants, as well as plans for streetscape beautification and safety improvements, retail enhancements through pop-ups and storefront revitalizations and the …

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