Deals

Forever 21 has joined the crowded fast fashion scene on New York City’s Fifth Avenue by opening a new 36,000 square foot flagship store.

The store is spread out over four floors and will carry Forever 21 Men, Forever 21+, F21 Contemporary, basics, denim and shoes.

The new flagship takes over the site of a former H&M store, which closed in December a few months after the opening of its own new flagship on 48th Street.

New York -- In a surprise move, Kate Spade & Company announced it is closing all 19 of its lower-priced Kate Spade Saturday stores and all 12 of its Jack Spade menswear stores. Both brands will remain in the luxury company's portfolio, with Kate Spade Saturday being folded into Kate Spade, and Jack Spade being sold at other retailers and online. The company also announced a new joint venture to speed its growth in China, where it sees a long-term potential for 100 stores.

Los Angeles -- BH Properties, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed commercial real estate properties, has announced the promotion of Steven Jaffe to chief investment officer and principal of the firm. In this role, Jaffe is responsible for overseeing the acquisition and disposition strategy of the company as well as the company’s overall growth.

Jaffe has been with BH Properties for 11 years, previously holding the title of executive VP and general counsel.

Arlington, Texas -- Red Wing Shoes will open a 1,500-sq.-ft. store at Arbrook Square Shopping Center in Arlington, Texas. The center is located at the southeast corner of Arbrook Boulevard and Matlock Road.

Cynthia Bailey of WindStar Properties represented the landlord, Arbrook Square Investors, L.P. The tenant was represented by Cameron Haddad of NAI Robert Lynn Company.
 

It's official: The long-struggling RadioShack has filed for Chapter 11 bankruptcy protection. The 94-year-old retailer made its filing in  U.S.

It’s the end of an era that never really began for Target Canada as three of the biggest names in the asset disposition world begin store closing sales at Target’s 133 Canadian locations.   Gordon Brothers Group, Hilco Global and Great American Group were the successful bidders at a Jan. 27 auction and secured approval from Target Canada and an order from a Canadian court to manage the store closing process for Target’s 133 Canadian locations.  

Cache on Wednesday said it had filed for Chapter 11 bankruptcy protection after running out of capital and time to complete its turnaround.

The women’s apparel retailer will continue to operate its business, but intends to continue to reduce its store count and sell and renegotiate some of its leases. Cache chairman and CEO Jay Margolis said the company filed Chapter 11 with the goal of “securing Cache’s future.”

New York -- Cache on Wednesday said it had filed for Chapter 11 bankruptcy protection after running out of capital and time to complete its turnaround. The women’s apparel retailer will continue to operate its business, but intends to continue to reduce its store count and sell and renegotiate some of its leases.

Cache chairman and CEO Jay Margolis said the company filed Chapter 11 with the goal of “securing Cache’s future.”

Fort Worth, Texas – As the New York Stock Exchange delists trading of its shares, beleaguered consumer electronics retailer RadioShack Corp. reportedly has at least two suitors interested in buying some of its stores. According to Bloomberg, both Amazon.com Inc. and Sprint Corp. are in discussions with RadioShack about possibly acquiring some stores, with RadioShack shuttering whatever stores were left.

Berkeley, Calif. -- Donahue Schriber Realty Group acquired Gilman Village on January 30, marking the Costa Mesa, California-based company’s second Bay Area acquisition in the past month.

Besides the Gilman Village acquisition in Berkeley, California, Donahue Schriber purchased Village Oaks shopping center, a 320,000-sq.-ft. property anchored by Target and Safeway located in San Jose, California.