Development/Redevelopment

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.

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.

The few blocks surrounding the Honolulu intersection of Kalakaua and Ka’iulani Avenues boasts the highest pedestrian traffic in the world-renowned Waikiki retail district. The count exceeds 22,000 visitors per day. And it is rising as recovering international economies enable tourists from around the world — and especially from the Asia-Pacific countries of Japan, China and South Korea — to respond to the beckoning call of Hawaii’s Big Island of Oahu.

Last year, Cedar Realty Trust shook off the last vestiges of its recession. Upon taking the reins of Cedar, new president and CEO Bruce Schanzer set in motion a short-term strategic plan in third quarter 2011. The plan was to sell nearly half of the company’s 140 properties owned in 2011 and streamline its property-type and geographic focus, while reducing leverage over the following two years. While the results for 2013 are being tallied now, performance during the first three quarters suggest a very good year of solid results.

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.

Philadelphia — Franklin Flea’s successful holiday season earned the once-a-week indoor flea market a return booking for April.

Starting back in November, Franklin Flea brought local artisans and vendors together in Center City Philadelphia to showcase handmade, repurposed and antique items as well as an assortment of artisan foods.

New York -- Polaroid Fotobar will open an 8,500-sq.-ft. flagship at The LINQ, a new retail, dining and entertainment district in Las Vegas by Caesars Entertainment.

The retail format made its debut in 2013, with  three stores in Florida ( Delray Beach, Orlando and Miami). Upcoming plans include another location in Florida, in Boca Raton.

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.