Monday, July 7, 2025
Read the Digital Magazines
Subscribe

New York

Company newsNew YorkNewsRetailers

Macy’s to Close 125 Stores, Consolidate Headquarters to New York City

by Alex Tostado

New York City — Macy’s Inc. (NYSE: M) has unveiled plans to close 125 of its least productive stores over the next three years. The retailer will also close its offices in San Francisco, downtown Cincinnati and Lorain, Ohio, leaving the New York City office as the sole corporate headquarters. The reorganization strategy also includes increasing the Macy’s digital platform, while optimizing its brick-and-mortar portfolio and lowering overhead costs. Beginning this year, Macy’s expects the strategy to generate annual gross savings of approximately $1.5 billion, to be fully realized by …

Continue Reading
0 FacebookTwitterLinkedinEmail
LeasingNew YorkNewsRetailers

Warby Parker Opens 2,564-Square-Foot Store in Brooklyn

by Alex Tostado

New York City — Eyewear retailer Warby Parker has opened a 2,564-square-foot store in the Park Slope neighborhood of Brooklyn. The two-story building is located at 208 Flatbrush Ave., near the Barclays Center. Brian Katz and Scott Sher of Katz & Associates represented Warby Parker in the lease negotiations. Pintchick Associates Ltd. is the landlord.

Continue Reading
0 FacebookTwitterLinkedinEmail
LeasingNew YorkNewsRetailers

Fitness Factory Signs 18,000-Square-Foot Retail Lease at 475 Clermont in Brooklyn

by Alex Tostado

New York City — Fitness Factory Health Club has signed an 18,000-square-foot lease s at 475 Clermont, a 363-unit multifamily building in Brooklyn. The lease term is 10 years. The facility will feature weight and circuit training equipment and a spa, as well as specialty class and personal training services. Beyond the Fitness Factory lease, the building has 17,000 square feet of retail space available for lease. Jason Pennington, Andrew Clemens, Benjamin Weiner and Jessica Hedrington of RIPCO Real Estate represented the landlord, RXR Realty, in the lease negotiations.

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentMallsNew YorkNews

University of Rochester Plans $240 Million Orthopedics Campus at Marketplace Mall

by Alex Tostado

Rochester, N.Y. — The University of Rochester (UR) will develop The UR Medicine Orthopaedics & Physical Performance Center at The Marketplace Mall in Rochester. The 330,000-square-foot facility will be the largest off-site building in UR history. Wilmorite, owner of The Marketplace Mall, will sell the former Sears department store and surrounding mall property to UR. Plans call for repurposing the vacant Sears building as the shell for the new ambulatory surgery center, with new operating rooms and procedure rooms. New construction would create a multi-story tower above the surgery center, …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentGrocery-anchoredNew YorkNewsRetailers

Wegmans to Open 121,000-Square-Foot Supermarket in Harrison, New York

by Alex Tostado

Harrison, N.Y. — Wegmans Food Market will open a 121,000-square-foot supermarket in Harrison, a northern suburb of New York City. The store is known for its wide selection of fresh produce, deli meats, cheeses and fresh baked breads, as well as its devoted following of “Wegmaniac” fans. The store will also house an internal restaurant called The Burger Bar, which will serve made-to-order burgers, sandwiches, salads and other casual cuisine, as well as beer and wine by the glass. Wegmans plans to hire 280 part-time and 220 full-time employees at …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNew YorkNews

Newmark Group Acquires London-Based Retail Firm Harper Dennis Hobbs

by Alex Tostado

New York City — Newmark Group Inc., a division of New York City-based real estate firm Newmark Knight Frank (NKF), has acquired Harper Dennis Hobbs Holdings Ltd. (HDH), a London-based firm specializing in retail acquisitions. NKF operates numerous offices across the United States, and the acquisition of the HDH opens opportunities to service European tenants seeking access to North American consumers. More than 50 employees, including 30 brokers and staff, will join Newmark Group as a result of the acquisition, though the firm will continue to operate as Harper Dennis …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentLeasingNew YorkNewsRestaurants

Westfield World Trade Center to Add Six Restaurants Beginning in Early 2020

by Alex Tostado

New York City — Sushi by Pescatore, Godiva Café, Taco Dumbo, Special Bowl and Sweetcatch Poke are slated to open within Westfield World Trade Center beginning in early 2020. In addition, Devon & Blakely will open its second location within Westfield World Trade Center in the South Concourse. Opened in 2016, Westfield World Trade Center is home to more than 85 shops and restaurants and continues to open new offerings as additional retail space becomes available from the continuing development of the World Trade Center site. Unibail-Rodamco-Westfield is handling leasing efforts …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentGrocery-anchoredNew YorkNewsRetailers

Lidl Opens 36,000-Square-Foot Grocery Store on Long Island

by Alex Tostado

West Babylon, N.Y. — German grocer Lidl has opened a 36,000-square-foot store at Hubbards Commons, a 65,970-square-foot shopping center in West Babylon on the western part of Long Island. Lidl will offer produce, meat, freshly baked goods and an array of household products. Hubbards Commons is located along Sunrise Highway, which connects Long Island to New York City. The property is now 98 percent leased to tenants including Walgreens, Orangetheory Fitness and Subway. ShopOne is the landlord of Hubbards Commons.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsInvestment salesNew YorkNewsRetailers

LVMH Agrees to Acquire Tiffany & Co. for $16.2 Billion

by Alex Tostado

New York City — LVMH Moët Hennessy Louis Vuitton SE (LVMH), a French conglomerate and supplier of luxury goods, has agreed to acquire luxury jewelry retailer Tiffany & Co. (NYSE: TIF) for approximately $16.2 billion. The sales price equates to $135 per share, to be paid in cash. The deal is expected to close in the second or third quarter of 2020. LVMH, based in Paris, owns more than 70 luxury brands in the clothing, cosmetics, jewelry and spirits industries, including Dom Pérignon champagne, Givenchy clothing and perfume and Christian …

Continue Reading
0 FacebookTwitterLinkedinEmail
Grocery-anchoredInvestment salesNew YorkNewsRetailers

Cushman & Wakefield Brokers Sale of 84,000-Square-Foot Ferndale Shopping Center in Larchmont, New York

by Alex Tostado

Larchmont, N.Y. — Cushman & Wakefield has brokered the sale of Ferndale Shopping Center, an 84,000-square-foot retail property in Larchmont, a northern suburb of New York City. Located at 1310-1340 Boston Post Road, the property was 96 percent occupied by seven tenants at the time of sale, including grocer Stop & Shop and a 24-hour CVS/pharmacy. The asset sold for approximately $35 million. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Kyle Schmidt of Cushman & Wakefield represented the undisclosed seller in the transaction. The team also …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts