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Real Estate

  • Crate & Barrel to close Manhattan flagship store

    New York -- Rising rents are causing another national chain to exit a high-profile location in Manhattan. Home-furnishings retailer Crate & Barrel will close its flagship on Madison Avenue (at 59th Street) on Aug. 2, after negotiating an early exit from its lease, according to the Wall Street Journal. The store opened in 1995.

    The closing will leave the city with just one Crate & Barrel, in the Soho section of downtown Manhattan.

  • X Team partner Strategic Retail Advisors completes lease for Charming Charlie flagship

    Framingham, Mass. -- X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, announced that partner, Strategic Retail Advisors (SRA), a retail real estate consulting and brokerage firm focused on tenant representation throughout the Northeast, has successfully negotiated a lease on behalf of accessories retailer Charming Charlie.
       

  • Macy’s adds two more store locations for launch of Macy’s Backstage

    Cincinnati -- Macy’s on Monday announced two more pilot store locations in metro New York City for its new off-price format, Macy’s Backstage. The additional stores brings to six the total number of Macy’s Backstage for launch. All are expected to open in fall 2015 and average about 30,000 sq. ft.

    The added locations are at Fordham Place in The Bronx, and Essex Green Shopping Center, West Orange, New Jersey, where an existing Macy’s store will be converted to Macy’s Backstage.

  • Report: Walmart stores not welcome in New York City, says mayor

    New York -- The mayor of New York City, Bill de Blasio, said Thursday that Walmart stores are not welcome in New York City, Newsday reported. His attitude is much different from his predecessor, Michael Bloomberg.

    Click here for the story.

  • New Zealand approves Staples-Office Depot merger

    Framingham, Mass. – The proposed $6.3 billion merger of Staples Inc. and Office Depot Inc. has cleared a global regulatory hurdle. Staples has received clearance from the Commerce Commission of New Zealand to acquire all the outstanding shares of Office Depot, which trades in New Zealand as OfficeMax.

  • Inland Real Estate Group names chief accounting officer

    Oak Brook, Ill. - The Inland Real Estate Group Inc. is naming Prashant Bodhanwala, 48, as chief accounting officer, overseeing accounting, financial strategic planning and financial analyses for Inland. Bodhanwala most recently served as VP of accounting for CA Ventures LLC, a real estate development firm, where he was responsible for all accounting, tax, accounts payable, accounts receivable and payroll.

  • H&M to enter India in fall 2015

    Stockholm, Sweden – Sweden-based global specialty apparel retailer H&M is planning to open its first store in India in fall 2015. The 25,000-sq.-ft. store will be located in New Delhi.

    H&M, which currently operates more than 3,600 stores in 58 global markets, may open as many as 50 new stores in India during the next few years.

  • Celebration Pointe secures $125 million loan

    Gainesville, Fla. - The developer of Celebration Pointe, a 225-acre mixed-used regional development located in Gainesville, Florida, has secured a $125 million construction loan for Phase I of the project.  Celebration Pointe partner Ralph Conti made the announcement.

    “We are very pleased to have secured this key piece of our capital stack,” said Celebration Pointe partner Ralph Conti.   

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