Real Estate

Each year, in December, Chain Store Age publishes a retail overview of the northeastern quadrant of the United States and, each year, there’s not a lot of bad news to report, even in recessionary times. This year is no exception; in fact, despite a superstorm that ravaged much of the region, the economic engine continues to chug along.

Walgreens’ new Chicago flagship, in the historic Noel State Bank building, preserves the architectural integrity of the space while adding contemporary accents. The store features an extensive collection of innovative offerings, products and services.

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Philadelphia -- Versa Capital Management, a Philadelphia-based private equity investment firm, has acquired Eastern Mountain Sports (EMS), effective immediately. Terms of the deal were not disclosed.

Mark Walsh, a Versa principal and chairman of Bob’s Stores, a northeastern apparel retailer that is part of the Versa portfolio, will serve as chairman of the board of EMS, which operates 69 stores in 12 Eastern states.

Deerfield, Ill.  -- Walgreens unveiled its newest Chicago flagship, in the historic Noel State Bank building in the city’s Bucktown/Wicker Park neighborhood. This is the chain’s second flagship in Chicago and, like its downtown State and Randolph flagship location, features an extensive collection of innovative offerings, products and services unexpected from a drugstore.

New York -- Baccarat is set to unveil their newest flagship store in New York City in May 2013 ahead of the iconic brand's upcoming 250th anniversary.

Located at 635 Madison Avenue at 60th Street, the 2,800-sq.-ft. store -- designed by Rafael de Cardenas -- will be a new global retail model for the brand, showcasing tableware, lighting, decorative objects and jewelry to reflect the richness of the Baccarat lifestyle and the brand's commitment to innovation and excellence.

New York -- Schurman Retail Group announced that Papyrus opened a new store in the Time Warner center, marking the retailer’s 18th store in New York City.

“New York City has always been a strong market for us,” said Dominique Schurman, CEO, Schurman Retail Group.
 
The 1500-sq.-ft. store features a “Hummingbird” design that is featured in 183 stores in the U.S. and Canada.

Leading footwear retailer DSW said it would open between 25 and 30 new stores next year, adding to an existing base of 364 units.

The company disclosed its expansion plans in conjunction with the release of third quarter results that saw same store sales advance a hefty 6.1% and profits grow by double digits. Adjusted net income increased 17% to $46.6 million, or $1.02 per share, compared to $39.8 million, or $0.88 per share.

Chicago -- GoldMax USA said it has opened a store in Rancho Santa Margarita, Calif., marking the chain’s 50th store in the state. It operates more than 200 stores nationwide.

GoldMax said it has plans to open eight more California stores within the next 30 to 60 days in City of Industry, El Cajon, Los Angeles, Murrieta, Norco, Orange, Rancho Cucamonga, San Juan Capistrano, and Upland.