REAL ESTATE

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.

New York - Fairway Group Holdings Corp., the parent company of Fairway Market, is opening a 65,000-sq.-ft. store in Nanuet, N.Y., on Oct. 10.

"We're excited to make our newest home at this premier shopping destination in Nanuet and are also very pleased to be creating more than 300 new jobs in the area," said Charles Santoro, Fairway Market's executive chairman.

New York -- Wolverine has opened its first permanent store, in New York City’s Nolita neighborhood.

The store follows a successful pop-up the brand launched last fall. The brand; new location follows the successful New York pop-up venture in fall 2012, and will again offer a curated selection of goods that share Wolverine's commitment to quality, heritage and craftsmanship.