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Real Estate

  • DC Homevet to Brookland Plaza in Washington, D.C.

    Washington, D.C. — DC Homevet has leased a 4,400-sq.-ft. location in Brookland Plaza in Washington, D.C.’s northeastern quadrant. DC Homevet will operate District Veterinary Hospital and Concierge Medicine Center. The Center will provide medicine, surgery, concierge and specialized services primarily for dogs and cats.

    Divaris Real Estate, the property’s leasing agent, represented the landlord, Jan and Anna Slamen Family Trust in the transaction.

  • CVS, The Boulevard restaurant ink leases at Queens center

    Queens, N.Y. — A CVS Pharmacy and The Boulevard, a new family restaurant, have leased space in the Francis Lewis Boulevard Shopping Center in the Whitestone section of Queens, N.Y.

    The CVS transaction is a lease renewal for an existing 13,500-sq.-ft. pharmacy. The Boulevard has taken 4,000 sq. ft. and plans to open by the end of March.

    The Francis Lewis Boulevard tenant lineup also includes McDonalds, First Savings Bank, Kumon and Aphrodite Sweets.

  • Jimmy Johns inks 3 leases in Detroit metro area

    Bloomfield Hills, Mich. — Jimmy Johns has signed leases for three new restaurants in the Detroit metropolitan area, two in Livonia and one in Northville.

    In Livonia, Jimmy Johns signed a 2,277-sq.-ft. lease on Middlebelt Road. Mid-America Real Estate-Michigan (www.midamericagrp.com) represented Jimmy Johns and the landlord, CVS, in the transaction.

  • Now open: Fremaux Town Center in Slidell, La.

    Covington, La. And Chattanooga, Tenn. — Phase I of Fremaux Town Center in Slidell, La., opened on Friday, according to the property’s joint developers Stirling Properties and CBL & Associates Properties.

    Kohl’s, Dick’s Sporting Goods, Best Buy and T.J.Maxx anchor the 352,342-sq.-ft. center, which is more than 95% leased.

  • Report: Chinese e-commerce company Alibaba plans U.S. IPO

    Hong Kong – Chinese e-commerce platform provider Alibaba Group Holding Ltd. is reportedly planning a U.S. initial public offering (IPO). According to Bloomberg, Alibaba has received approval from Hong Kong regulators for its proposed governance structure.

  • Amazon grows presence in Washington

    Amazon plans to open a nearly 1 million-sq.-ft. fulfillment center in Kent, Wash. This will be the company’s fourth fulfillment center in the state. Amazon’s other Washington fulfillment centers are located in Sumner and Bellevue, and a DuPont site is near completion.

  • Ulta Q4 profit up 9.5%; to open 100 stores

    Bolingbrook, Ill. -- Ulta Beauty’s fiscal fourth-quarter earnings rose 9.5% on better-than-expected sales. The fast-growing beauty products retailer plans to add 100 net new stores, expanding square footage by 15% and remodel 12 locations in its current fiscal year.

    “Ulta Beauty achieved excellent top line growth in the fourth quarter,” said Mary Dillon, CEO. “We delivered earnings growth consistent with our expectations and made significant progress with our key growth strategies.”

  • Getting support early on critical to building urban stores

    New York -- When building an urban store, be prepared for anything, and make friends with your local Economic Development Corp. early, advised retailers and a developer at the “Setting Up Shop Downtown” session at Chain Store Age’s 50th annual SPECS conference in Grapevine, Texas (March 9 -12, 2014). The session was particularly timely given that more and more retailers are targeting urban areas for growth — and the trend is likely to accelerate going forward.
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