Retail

Knoxville, Tenn. -- CHM said that its Northshore Town Center mixed-use property will add First Tennessee Bank and ORNL Federal Credit Union to its tenant roster.

The two financial institutions will join fast-casual pizza restaurant Uncle Maddio’s, scheduled to open its first Tennessee location at Northshore Town Center later this spring.

New York -- Following unanimous approval in March by the New York City Council for the redevelopment of Pier 17, The Howard Hughes Corp. said it has named RKF as the exclusive consultant and leasing agent for the South Street Seaport.

New York -- Uniqlo will be the exclusive, multi-year, corporate sponsor of the Museum of Modern Art (MoMA) Museum’s Friday night free admission program, which provides free access to the public to the Museum and all exhibitions from 4 p.m. to 8 p.m., every Friday, throughout the year.
 
“Uniqlo Free Friday Nights” will launch on May 3. That evening, the first 1,000 visitors will receive a special Uniqlo tote bag. Also in May, the Museum will begin extending its public schedule to seven days per week.

London -- A Thursday report by Bloomberg said that retail sales in the U.K. fell a more-than-expected 0.8% (excluding fuel) in March compared to February, impacted by unseasonably cold weather and a still-sluggish economy.

New York -- The Wall Street Journal reported Thursday that J.C. Penney is now in talks with Wells Fargo and at least two other investment firms, seeking a $500 million loan to shore up the beleaguered retailer’s cash reserves.

Citing unidentified sources, WSJ said that Penney is also in talks with private-equity firm TPG and with investment company Gordon Brothers, along with Wells Fargo, as Penney casts a wider net to stay afloat.

I recently attended Chain Store Age’s 49th annual Store Planning, Equipment, Construction and Facilities Services Seminars (SPECS) in Dallas, Texas. While SPECS always gives me plenty to think about, this year was especially interesting thanks to the debut of a new segment on Real Estate Development. In addition to other workshop “tracks” like Facilities, Business Strategies, and Planning & Design, the inclusion of Real Estate Development to the mix really brought new (and important) perspectives.

New York -- The latest round in the battle between Macy’s and J.C. Penney over the sale of Martha Stewart goods went to Macy’s, which on Monday challenged a judge’s decision on Friday to allow certain non-branded Martha Steward items to be sold — at least temporarily — in J.C. Penney stores under the JCP Everyday label.

New York -- Fairway Group Holdings Corp., operator of the Fairway Market grocery chain, said Wednesday that it raised $177.5 million in its initial public offering after pricing the shares above the marketed range.

Fairway sold 13.65 million shares for $13 each, according to data compiled by Bloomberg, after offering them for $10 to $12. At the offering price, the company has a market value of about $536 million.

The shares, which represent a 33% stake, will be listed on the Nasdaq Stock Market under the symbol FWM.