Development/Redevelopment

New York -- Seiko Corporation of America, a subsidiary of Seiko Watch Corporation, announced the grand opening of its first Seiko boutique to enter the United States at 510 Madison Avenue in New York City.  

The New York Seiko boutique is primarily dedicated to Seiko's collections, but also features boutique exclusives.

Chicago — Turkish fashion concept, SARAR, signed a lease at 111 West Washington Street in Chicago for 3,139 sq. ft. Mid-America Vice President Michael Wexler represented SARAR in the transaction. Danielle Rudas and John Vance of Stone Real Estate represented the landlord.

This will be SARAR’s third location in Illinois. The new location is expected to open in fall 2014. 

Philadelphia — Pennsylvania Real Estate Investment Trust has entered into an agreement to sell an anchor pad underlying a Bon-Ton store in Bethlehem, Pennsylvania, contiguous to Westgate Mall.

The transaction is expected to close prior to the end of 2014.

Birmingham, Alabama — Charles McNamee has joined Bayer Properties as senior VP of development and construction. McNamee most recently served as senior VP of commercial development and construction with Colonial Properties Trust.

In his position with Bayer, McNamee will be responsible for all aspects of development and construction, including oversight of both the Development and Tenant Coordination and Construction Departments.

Los Angeles — Juanita Tate Marketplace is now open, bringing 77,096 sq. ft. of outdoor retail space with a full-service grocery to the highly underserved surrounding community. Located at 944 East Slauson Avenue in South Los Angeles, the $21-million development is situated on a 6.5-acre site, which was formerly used as a scrap-metal plant.

Construction began in May 2013 and completed in April 2014. The center is owned by Regency Centers and was designed by Nadel.

Framingham, Mass. -- T.J.Maxx will be opening five stores in the Chicagoland area starting this week and through October.

"The opening of these five stores in the Chicagoland area marks a momentous occasion for our brand," Richard Sherr, president of T.J.Maxx, stated.

All five T.J.Maxx stores will occupy over 122,000 sq. ft. of retail space.

New York -- As analysts begin to speculate about the acquisition scenarios for Family Dollar – whether by Dollar Tree or Dollar General – one thing is clear: some store closures will occur.

According to a report by Wall Street Journal Online, a Dollar General takeover would close more stores than if Dollar Tree wins the bid. Dollar General said it is prepared to divest up to 700 of the combined company’s approximate 19,600 stores to satisfy antitrust regulators.
 

Atlanta -- Country Club Prep, an e-commerce retailer for preppy apparel, is hosting the grand opening of its first brick-and-mortar store in Charlottesville, Virginia, on Aug. 23. Launched from a basement in 2012 by two former attorneys Matt Watson and Stephen Glasgow, the concept will launch its brick-and-mortar presence at the University of Virginia.

The story of Houston, Texas has added some exciting new chapters in recent years. With low unemployment, a booming economy and one of the fastest-growing populations of any city in the nation, Houston’s rise alongside some of the most prominent cities in the nation continues unabated. Trailing only New York, Los Angeles, and Chicago in size, Houston’s growing influence as a cultural and financial icon has made it a player on the national and international stage.

Eatontown, N.J. -- Vietnamese noodle restaurant Pho 99 and nail salon Affinity Nails & Spa have leased a combined 7,700 sq. ft. of space at Eatontown Plaza in Eatontown, New Jersey, announced Levin Management, exclusive leasing agent for the 30,000-sq.-ft. center.

The lease signing brings Eatontown Plaza to 100% occupancy.