REAL ESTATE

Another retailer jumps into the off-price game
The off-price space is growing by leaps and bounds, with yet another department store retailer throwing its hat in the ring.

Lord & Taylor will debut its new off-price concept, Find @ Lord & Taylor, on Nov. 19, in Paramus, New Jersey. The 30,000-sq.-ft. store will feature women’s, men’s, kids’ clothing and footwear, along with home goods. According to reports, the initial store will be followed by six additional locations next year.
This could be the 'coolest' holiday window ever
Barneys New York is bringing an icy winter chill — literally — to its holiday windows.

The priciest retail corridor in the world — by a long shot

When it comes to retail rents, Manhattan’s Fifth Avenue is really in a class by itself.

Upper Fifth Avenue, between 49th and 60th streets, is the most expensive retail corridor in the world, with rents rising 3.6% to $3,500 per square foot through the first half of this year, according to an annual report from Cushman & Wakefield. (The top 10 streets are listed at end of article.)

Fifth Avenue rent was nearly double that of the second priciest corridor, Causeway Bay in Hong Kong, at $2,399 per square foot.
Off-price store to make New York City debut

The off-price wars are heating up in New York City.

Saks Fifth Avenue will open its first Saks Off 5th outlet in New York City, in a 32-story office tower at 125 East 57th Street, in March 2016. The store will feature a lobby entrance at street level, which will access two lower level floors.

“The addition of a new Saks Off 5th store at this strategic location will be a dramatic game changer for 57th Street retail east of Park Avenue,” said Charles S. Cohen, president and CEO of Cohen Brothers Realty Corp., which owns the property.
Vestar promotes Jenny Cushing to VP of leasing

Phoenix -- Vestar announced it has promoted Jenny Cushing to VP of leasing. Based in firm's Phoenix headquarters, Cushing is responsible for the leasing efforts of assets throughout California, Arizona & Nevada.
Retail Road Trip: Top 10 New Stores, New York City

The influx of new retail into New York City, from brands both familiar and ones new to our shores, continued unabated in 2015. Everyone has their favorites. Here are mine:

Flying Tiger
The North Face continues in-store foray into virtual reality

Shoppers in select North Face stores will be able to experience winter in Nepal up close and personal.

The retailer, in collaboration with Jaunt Studios, a leading supplier of fully-immersive cinematic virtual reality experiences, is launching a new VR experience titled “The North Face: Nepal.” The content will be available for all smartphone users, and in the company’s stores in San Francisco, New York, and the brand’s new Regent Street location in London.
Retail Properties of America acquires center in the Washington, D.C./Baltimore corridor

Towson, Md. -- Retail Properties of America announced it acquired Towson Square located in Towson, Maryland. The property was purchased for $39.7 million. Towson Square is a new development that opened in 2014 and is currently 96.6% occupied.
Tanger Outlets begins construction of a new outlet center

Tanger Outlets announced it has acquired land in Daytona Beach, Florida and plans in to immediately commence construction of its new outlet center development. When complete, the new center will beapproximately350,000 sq. ft. of retail space and feature over 80 upscale brand name and designer outlet retailers.
CBL celebrates grand opening of first play area in partnership with Fisher-Price

CBL & Associates Properties and Fisher-Price along with special guest, Santa Claus, delivered an early Christmas gift to families at West Towne Mall in Madison, Wisconsin.

The brand new soft play area attraction is now open and is the first of its kind in the country, resembling a larger-than-life Toy Box featuring iconic children’s brands like Thomas & Friends, Little People, and more.