REAL ESTATE

  • RKF arranges $18 million sale of Upper East Side property

    New York — RKF has helped arrange the sale of a 12,250-sq.-ft. property on Manhattan’s Upper East Side at 1151 Third Avenue for $18 million.

    RKF Investment Sales & Advisory Services represented the buyer, 1151 Third Avenue LLC, in the transaction. HelmleySpear represented the seller, 201 East 67th Street. The transaction closed in late October.

  • NRF keynote: Traditional mall is dead

    New York -- In a hugely attended address kicking off the National Retail Federation’s 2014 “Big Show” at Javits Center in New York City, shopping center developer Rick Caruso challenged attendees – most of them retailers from the technology side of their companies – to remember the “human” side of retail.

  • O’Connor Capital acquires Palm Beach center

    New York — O’Connor Capital Partners has acquired 150 and 151 Worth Avenue, a 142,000-sq.-ft. luxury shopping center in Palm Beach, Fla. O’Connor made the acquisition on behalf of an institutional client.

    The Goodman Company developed the center from 1978 to 2001. Saks Fifth Avenue and Neiman Marcus anchor the center, which is also home to Gucci, Louis Vuitton, Tory Burch and Pucci as well as several other national and local tenants.

  • Urstadt Biddle acquires two New Jersey shopping centers

    Greenwich, Conn. — Urstadt Biddle Properties Inc. has acquired two shopping centers in New Jersey: Boonton A&P Center in Boonton and Bloomfield A&P Center in Bloomfield.

    The company paid $18.4 million, subject to an existing $7.8 million mortgage, for the 63,000-sq.-ft. Boonton A&P Center. Constructed in 1999, the center features a 49,463-sq.-ft. A&P plus Dunkin’ donuts, Chase Bank, Subway, Supercuts and Sprint. More than 90% of the tenants are national or regional names.

  • Nordstrom Rack to open in Dayton, Ohio

    Seattle — Nordstrom plans to open a 35,000-sq.-ft. Nordstrom Rack at The Greene Town Center in Dayton, Ohio, in the fall of 2014. Olshan Properties, formerly known as MPI, Mall Properties, Inc., manages The Greene Town Center.

    Nordstrom Rack has four other locations in Ohio, two of which opened this past fall in Columbus and Westlake. Another Rack location is set to open at Sun Center in Columbus this spring. Nordstrom operates three full-line stores in Ohio.

  • Robert Graham to open store at Mohegan Sun resort

    New York – Robert Graham has signed a new lease agreement to open a branded retail store featuring the full Robert Graham collection in The Shops at Mohegan Sun in Uncasville, Conn. The store will carry the complete range of Robert Graham apparel products.

  • Pine Tree names omni-channel marketing director

    Northbrook, Ill. — Pine Tree Commercial Realty LLC has appointed Graham Grochocinski to serve as the firm’s director of omni-channel marketing and social media.

    Grochocinski will handle Pine Tree’s omni-channel retail coordination as well as the firm’s social and digital communications.

    Grochocinski comes to Pine Tree from USAgain, an award-winning recycling company, where he managed the integrated marketing efforts for lead generation and branding.

  • Roundabout takes third Manhattan location

    New York — Faith Hope Consolo, chairman, and Joseph A. Aquino, executive VP of Douglas Elliman’s Retail Group, have arranged a third Manhattan location for Roundabout, a luxury consignment and resale retailer.

    The new location between 82nd and 83rd Streets is also the brand’s second Madison Avenue store.

     

  • Mall Properties is now Olshan Properties

    New York -- MPI — Mall Properties, Inc., a private owner, developer and operator of commercial real estate — has changed its name to Olshan Properties.

  • Retail availability rate down 70 bps for 2013

    Los Angeles — The retail availability rate fell 70 basis points in 2013, reaching 12% and reflecting continued net absorption gains, according to a report from CBRE. The rate fell 30 basis points in the fourth quarter, which matches the momentum of the first half of 2013 after a flat third quarter.

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