Real Estate

By Sandra Gold Slon

New York -- IPG Real Estate said Monday that Amish Market, a landmark Manhattan gourmet market located in the Midtown neighborhood of TriBeCa, is being offered for sale in hopes of an offer prior to an auction slated for November 2012.

The supermarket/deli features 7,500 sq. ft., including 1,000 sq. ft. of mezzanine, supported by 2,000 sq. ft. of basement space. An initial review by a court-appointed Chapter 11 trustee verified $8.2 million in sales from a September 2011 to an August 2012 time period.
 

Dallas -- Venture Commercial announced that True Food Kitchen will open a 5,915-sq.-ft restaurant at The Plaza at Preston Center, a five-story mixed-use development under construction in Dallas.

True Food, a Fox Restaurant Concepts brand, is slated to open in 2013 in a ground-floor space of a building that is devoted to retail tenants.

Wilmington, Del. -- Metro Commercial Real Estate announced that Books-A-Million has signed a lease for a 30,077-sq.-ft. former Borders located at 101 Geoffrey Drive in Christiana (Wilmington), Del.

The new Books-A-Million is expected to be open before year end.

Indianapolis -- Simon Property Group said that a new lineup of tenants has committed to opening at its St. Louis Premium Outlets property in Chesterfield, Mo., bringing the center to 75% pre-leased.

BCBGMAXAZRIA, Charlotte Russe, Jos. A. Bank, Motherhood Maternity, Max Studio and Sarar will open new stores at the value destination. Sportswear and accessories brands to be featured at the property will include Bass, Gold Toe, Jockey, Rue21, Saucony, Sperry and Vera Bradley. Others include Kitchen Collection, Samsonite, Fragrance Outlet and Ultra Diamonds.

Yonkers, N.Y. -- Charter Realty & Development announced that Alamo Drafthouse Cinema will open a 25,596-sq.-ft. location at Yonkers Gateway Center in Yonkers, N.Y.

Alamo will be occupying a former United Artists Theatre – Regal Cinema with co-tenants such as Best Buy, Burlington Coat Factory, Gap, Nine West, Starbucks, DSW Shoe Warehouse and more.

Portsmouth, N.H. -- Boston-based The Wilder Cos. said that Guitar Center will open a 7,358-sq.-ft. store at Durgin Square in Portsmouth, N.H. The new store will host a grand opening on Sept. 27.

Durgin Square is tenanted by TJ Maxx, HomeGoods and Shaw’s.

Wilder Cos. is the management company for the shopping center.

When temperatures turn cooler this fall New Yorker’s will have a new Burlington Coat Factory store to satisfy their need for outerwear.

The national off-price chain and operator of 482 stores opened its newest unit in New York’s Union Square on Friday. The 92,000-sq.-ft store is located at 14th Street and University Place is the company’s sixth New York location, which means Manhattan residents are already familiar with the Burlington, NJ-based company.

Blending multiple components in a single development isn’t a new idea. In fact, the Urban Land Institute first turned the phrase “mixed use” some 30 years ago, defining it as three or more significant revenue-producing uses in a single project.

Retail has weathered the recessionary climate, but a quick temperature check will tell you that renovations continue to trump new builds even in a recovering economy.