REAL ESTATE

Purchase, N.Y. — The March of Dimes Greater N.Y. Chapter and the Real Estate Award Breakfast Committee have named National Realty & Development Corp. as the 2013 Real Estate Award recipient.

This year marks the 26th annual Real Estate Award Breakfast and the 75th aAnniversary of the March of Dimes. The breakfast will be held November 14 at the Renaissance Westchester Hotel in White Plains.

New York — Sam’s Club will open two new clubs on Oct. 3. One is located in Romeoville, Ill. Romeoville Mayor John Noak, Chicago Bears cornerback Tim Jennings and former Bears tight end Desmond Clark, will attend the grand opening.

The second new Sam’s Club is located in Edmond, Okla. Edmond Mayor Charles Lamb, Oklahoma quarterback Jason White and former Sooner running back Billy Sims will attend the grand opening.

 

City of Commerce, Calif. – 99 Cents Only Stores is opening its first store in Maricopa, Ariz., on Oct. 10. The new store is approximately 11,615 sq. ft. and will feature a perishable food department, including produce, dairy and frozen foods.

99 Cents Only currently operates 331 retail stores consisting of 238 stores in California, 44 in Texas, 32 in Arizona, and 17 in Nevada.
 

Canton, Mass. – Dunkin’ Donuts plans to develop three new restaurants throughout northern Colorado, in the surrounding areas of Fort Collins, Loveland, Greeley, Windsor, and Estes Park. The first restaurant is expected to open in 2015 and the remainder by 2017.

New franchisees Doug Patterson and Cameron Stapleton signed a multi-unit development agreement. Stapleton will manage and oversee the company's daily operations for each restaurant. Franchise opportunities in the state are still available in Colorado Springs.

San Bernardino, Calif. -- Stater Bros. Markets announced that its VP of real estate, Mike Slaton, died suddenly on Sept. 28.

As a tribute to Slaton, the new 44,000 sq. ft. Stater Bros. supermarket, which opened last week in Redlands, Calif., will be dedicated in his honor.

Toms River, N.J. — Ashley Furniture has leased 34,097 sq. ft. at Seacourt Pavilion in Toms River, N.J. The new store is slated to open in April 2014. Metro Commercial Real Estate represented the owner, SP Acquisition Associations.

Ashley Furniture is the top selling furniture store brand in the world and the top retailer of furniture and bedding in the U.S. The company’s stores operate throughout the U.S., Canada, Mexico, Central America and Japan.

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Across America, big-box centers are powering back up

Power centers have proven themselves to be a resilient asset class in recent years. First the recession cut into business. Then e-commerce leveled some of their big-box tenants, hurt others and ignited a downsizing trend.

Yet research from Washington, D.C.-based CoStar Group shows that only 2% of power centers have vacancy rates of 40% or higher and probably won’t recover. Another 6% have vacancy rates of 20% to 40% and are in serious condition but may recover.