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Real Estate

  • NRDC signs three tenants at Pohatcong Plaza

    Purchase, N.Y. — Hobby Lobby, Marshall’s and Home Goods have leased more than 98,000 sq. ft. of space at 562,000-sq.-ft. Pohatcong Plaza power center in Phillipsburg, N.J., according to National Realty & Development Corp.

    The retailers will occupy a redeveloped building where Wal-Mart operated before expanding to a Supercenter early last year — in NRDC’s adjoining Pohatcong Plaza II.

     

  • Coming in 2018: Nordstrom New York City

    Nordstrom never rushes things. It moves forward slowly, thoughtfully and creatively. And when the company makes a decision, observers tend to nod their heads and say: “Hey, that’s a good idea.”

    A week ago, in a news conference announcing the acquisition of a West Side Manhattan Nordstrom store site for $102.5 million, Peter Nordstrom said: “We’ve had the intention and the drive, gosh, probably for the last 25 years to try to be here. We fully expect this to be our most successful store.”

  • Pret A Manger leases Capitol Hill building

    Washington, D.C. — Pret A Manger has leased a two-story retail building on Capital Hill in Washington, D.C., according to Douglas Development, the building’s owner. Located just two blocks from the U.S. Capitol Building, the restaurant will occupy 4,300-sq. ft. and offer two floors of indoor dining as well as a large outdoor patio.

    Originally from London, Pret A Manger opened its first U.S. location in 2000 near the New York Stock Exchange. Today, there are over 300 Pret A Manger locations worldwide.

     

  • Sales at Costco increase

    August seems to have delivered a mixed bag to various retailers, but Costco seems to have fared well with reported net sales of $7.95 billion for the four weeks ended Sept. 1, an increase of 7% from $7.44 billion during the prior-year period.

    Comparable-store sales in the U.S., adjusted to exclude changes in gasoline prices, increased 5% for August and for the fourth quarter and increased 6% for the 52-week period.

    For the fourth quarter, the company reported net sales of $31.8 billion, an increase of 1% from $31.5 billion in the prior-year quarter.

  • R.J. Brunelli: Northern Jersey retail vacancy rate edges down

    Old Bridge, N.J. — Thanks to absorptions of numerous empty big-box space on Route 22, the vacancy rate in retail properties along northern New Jersey’s six major shopping corridors inched own to 8.1% from a high of 8.2% a year ago, according to the latest survey by R.J. Brunelli & Co.

  • MC Sports signs into East Peoria center

    Peoria, Ill. — MC Sports will open a 22,555-sq.-ft. location at Town Centre II in East Peoria this fall, according to Cullinan Properties, the firm that arranged the lease.

    Town Centre II is owned by M&L Joseph Properties, a real estate investment partnership that owns retail and office properties throughout central Illinois. M&L Joseph and Cullinan are partners in an effort to enhance the retail mix at Town Centre II.

  • Robert Graham to make Manhattan debut

    New York -- Fashion designer Robert Graham will open his first New York City branded retail store at 380 Bleecker Street in SoHo, joining high-end neighbors such as Burberry, Brunello Cucinelli, Marc Jacobs, rag & bone, and Ralph Lauren. The Robert Graham store is slated to open this fall.

  • Corner Bakery Café expanding in Northeast Florida, Tampa, and San Diego

    Dallas -- Corner Bakery Cafe continues to expand as it moves forward on its goal to more than double its U.S. footprint in the next three to four years. The company announced plans to expand in several areas, including Northeast Florida, Tampa, and San Diego.

    Corner Bakery Cafe said it will open as many as ten new restaurants in Northeast Florida as part of a new multi-unit restaurant franchise agreement with Lee-Wesley Group. These will be the first Corner Bakery Cafes in the Northeast Florida area.

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