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Events
Wednesday April 30th
Bisnow: NYC Retail Real Estate Summit
New York, NY

With the unforgiving polar vortex behind us, and consistent upticks in consumer demand dispelling market anxieties stemming from the Fed’s tapering policies, there is only one direction retail is heading. Up! The consumer is back, and retail is king. Come hear about it from the industry leaders themselves at Bisnow’s 4th Annual NY Retail Summit.

Get 20% off by using this discount code at checkout: retailmls2014

Click here to register!

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May 18-20, 2014
ICSC RECon Las Vegas
Las Vegas Convention Center

RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world. With over 34,000 attendees and 1,000 exhibitors it is the largest industry convention, making it an unparalleled opportunity to do a year’s worth of business in just three days! If you are looking to meet retailers to discuss new or existing leases in your centers, view the latest industry products and services that are critical to your business, attend educational sessions or find the next deal, then you need to attend RECon.

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Wednesday June 11th
ICSC: New York Program and Networking Breakfast
New York, NY

Join us and gain valuable insight into the dynamic retail environment in the outer boroughs of New York City.

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Thursday July 17th, 3-9pm
Social Retail Summit #7
Dumbo Spot, New York

Social retail is the new approach to customer relations developed by next generation omnichannel retail brands, from online community to offline sales.

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Featured Article
Specialty Candy Stores Sweeten Up West Village
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The latest trend in West Village boutique retail caters to shoppers’ sweet teeth. During the last seven months, at least three high-end candy shops have opening on Bleecker Street near Seventh Avenue, and word is that more are on the way.

New shops include Cynthia Rowley’s Curious Candy as well as Sugar and Plumm. Also looking for space in the area are Leonidas, La Maison du Chocolat, and Neuhaus. Owner of London Candy Jigs Patel moved his store from the Upper East Side to Bleecker Street in mid-August after a rent increase. His shop specializes in English chocolates, and revenue in the new 1,000-square-foot location is expected to exceed $1 million in the first year.

Similarly, Sugar and Plumm has two other locations and has been booming since it opened a 1,100-square-foot space on Bleecker Street in April. It specializes in handmade French chocolates, cookies, and macaroons, and even delivers to patrons who wish to order treats until 8 p.m.

Posted on November 26, 2013

Featured Listing
Featured Article
Juicy Couture Receives $50M to Vacate Fifth Ave. Flagship
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Retailer Juicy Couture is reportedly being paid $50 million to leave its store located at the base of 650 Fifth Avenue. Despite having more than seven years remaining on its lease, the store, which opened in 2008, could close as early as January. A US Federal Justice gave SL Green Realty Corp. and Jeff Sutton the go-ahead to acquire the master lease for all the retail space—roughly 32,000 square feet—in the 36-story building.

The deal for the retail space involves around 18,000 square feet in the basement, ground, second, and third floors. Additionally, 11,000 square feet on the third floor will be available for the next tenant.

Posted on November 22, 2013

Featured Article
The Coin: Consolidating Multiple Credit Cards into One
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A new product called Coin is going to simplify and improve people’s experiences with credit cards. The Coin looks to function and physically look like the cards that everyone already carries in their wallets. The difference is that this card will consolidate all the others into one. Wallets are filled with credit cards, debit cards, gift cards, rewards cards, and many more. The Coin takes away all the clutter and weight that currently exists in people’s wallets.

The way it works is simple. All you have to do is upload your information through a Coin app and a device that comes with the product for as many cards as you would like. You just take a picture of the card with your phone, and swipe the card through a device that attaches to your smartphone. Then, the Coin is ready to go and swipes just like a normal credit card. Before you make a purchase, you select which card you would like to use, whether its your American Express gift card, your Visa business credit card, or your debit card, and then swipe the same way you would with your other cards.

Another awesome feature of the Coin is the security. The app that users download with the actual product has a low power blue tooth signal that knows when the card is within close vicinity, or when it’s not. So, if someone leaves their Coin at a restaurant, the app will notify them that their card is no longer close by. Further, the Coin deactivates if it is not within close proximity to the smartphone, hereby preventing theft.

Posted on November 19, 2013

Featured Article
Bidders Acquire Bronx Parcel from MTA
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A partnership between the Gotham Organization and Grid Properties will acquire a 550,000-square-foot parcel in the Pelham Gardens section of the Bronx from the Metropolitan Transportation Authority for $30.5 million.

After the Grid-Gotham partnership was selected as the winning proposal for the site, MTA announced the deal last Friday. Located near the intersection of East Gun Hill Road and the New England Thruway, the site will house a large retail project. Reportedly, the partners will build 260,000 square feet of leasable retail space and possibly up to 100 units of senior housing.

“We are extremely excited about the prospect of creating an architecturally distinctive, pedestrian-oriented retail destination in the Bronx,” said Grid Properties Principal Drew Greenwald. “Currently, Bronx residents have to leave the borough to experience the type of vibrant shopping and dining environment we envision at this site.”

Posted on November 19, 2013

Featured Article
Inland & MAB Partner to Develop Grocery Anchored Retail Centers for $325M
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Inland Real Estate and MAB Retail Partners, an Australian-based company, will partner to develop as many as 20 grocery-anchored retail centers throughout the southeastern U.S. and Mid-Atlantic states. The projects are expected to have a value of as much as $325 million.

The five-year development will target metropolitan areas in the Carolinas, Georgia, Florida, Virginia, and Washington D.C. Inland will have rights to all grocery-anchored, build-to-suit opportunities in the southeastern U.S. sourced by MAB.

After site approval by IRC, the company will provide 90% of the equity required to fund approved project costs, and MAB will be responsible for the remaining 10% of equity, and venture management, sourcing and acquisition of sites, project financing, and all property and development duties.

A typical project will feature a 50,000-square-foot grocery store with around 20,000 square feet of additional retail space.

Posted on November 14, 2013

Featured Article
Glenn Rufrano
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Glenn J. Rufrano, a leading commercial real estate industry executive for the past three decades, is returning to O’Connor Capital Partners as Chairman & CEO. Best known for his past leadership in the retail real estate sector, Mr. Rufrano began his career with Landauer Associates. His previous 17-year tenure with The O’Connor Group, which began in 1983, culminated with his positions as President and COO and as Co-Chairman of The Peabody Group, which was sponsored jointly with J.P Morgan. Between 2000 and 2007 he was CEO of New Plan Excel Realty Trust Inc., and subsequently he led Australian-based Centro Properties Group as its CEO. In 2010, Mr. Rufrano was named CEO of Cushman & Wakefield, a position he held until earlier this year.

Posted on November 13, 2013

Featured Article
Press Release: O’Connor Capital Partners Names Glenn Rufrano Chairman & CEO
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New York, NY– November 13, 2013 – Glenn J. Rufrano, a leading commercial real estate industry executive for the past three decades, is returning to O’Connor Capital Partners as Chairman & CEO. The privately-owned, independent real estate investment, development and management firm today announced that Mr. Rufrano, who was a founding partner of predecessor The O’Connor Group and who has served as a board member since 2010, will assume his new position effective immediately. In addition, he has acquired a full partnership stake in the firm.

Bill O’Connor, President & COO of O’Connor Capital Partners notes, “We are thrilled to have Glenn rejoin our company. Not only does he possess a deep knowledge of our firm and our industry, but he also shares a common set of values and beliefs that has served the company well since its founding 30-plus years ago.”

Best known for his past leadership in the retail real estate sector, Mr. Rufrano began his career with Landauer Associates. His previous 17-year tenure with The O’Connor Group, which began in 1983, culminated with his positions as President and COO and as Co-Chairman of The Peabody Group, which was sponsored jointly with J.P Morgan. Between 2000 and 2007 he was CEO of New Plan Excel Realty Trust Inc., and subsequently he led Australian-based Centro Properties Group as its CEO. In 2010, Mr. Rufrano was named CEO of Cushman & Wakefield, a position he held until earlier this year.

Posted on November 13, 2013

Featured Article
Press Release: SL Green Announces 15-Year Early Renewal By Prada at 724 Fifth Avenue
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New York, NY – November 13, 2013 – SL Green Realty Corp. (NYSE: SLG) and partner Jeff Sutton today announced that Prada has renewed its lease for its New York City flagship store at 724 Fifth Avenue. The agreement will keep one of the world’s iconic fashion and accessory houses at the prime location through 2028. Prada occupies a total of 15,540 square feet of retail space on four levels, along with another 5,200 square feet of office space on the fifth floor of the building.

The SL Green/Sutton venture acquired the building in early 2012, as part of the partners’ successful strategy to invest in the city’s iconic retail locations. SL Green and Sutton also control interests in the retail condominium of 717 Fifth Avenue, 720 Fifth Avenue, 609 Fifth Avenue and the entire retail portion of 650 Fifth Avenue.

Posted on November 13, 2013

Featured Article
Guest Blogger Michael Stoler: Brick and Mortar Coffee Shops Opening in the U.S.
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While many of my friends and colleagues prefer to make their daily cup a java in a single cup Keurig machine, this writer prefers a drip coffee maker or a coffee percolator. To the members of the younger generation a coffee percolator is a type of pot used to brew coffee by continually cycling the boiling or nearly-boiling brew through the grounds using gravity until the required strength is reached.

Yet, in the 21st century more and more coffee brands including Dunkin’ Donuts and Starbucks are now offering single cup beverages. The convenience of a brewing single fresh cup of coffee was created by Keurig, a North American manufacturer of coffee brewers, which is a part of Green Mountain Coffee Roasters. Green Mountain has announced that it will open the first Keurig brick and mortar store in November. It will be located in the Burlington Mall in Burlington, Massachusetts.

The Keurig Store is designed to be a retail destination where shoppers will be able to interact with Keurig brewers and beverages, from a variety of their coffee makes to determine which brewer and beverages best match their preferences.

In addition, the store will offer on-site demonstrations, special promotions, new product offerings and accessories.

Posted on November 12, 2013

Featured Article
Prospect Park Project Receives $10M Backing
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A prominent NYC real estate family has donated $10 million to Lakeside, the largest project in Prospect Park since its opening in the late 19th century. The Prospect Park Alliance and the New York City Department of Parks & Recreation announced yesterday the donation from the LeFrak family, which will go toward a 34,000-square-fot facility that will feature an ice skating rink in the winter and rolling skating and a water feature during warmer months, as well as a café and other amenities.

“The LeFrak family has a history of philanthropy in Brooklyn, and all of New York, and their generous gift to Lakeside—a place where families will enjoy a day outdoors, children will step out onto the ice for the very first time, and visitors can take in the beauty of Prospect Park from a new vantage point—will continue that legacy,” says NYC Parks Commissioner Veronica M. White.

The entire $74 million project encompasses 26 acres, and will include a café, restored landscape, and vastly improved park access. The new facility will be named the Samuel J. and Ethel LeFrak Center at Lakeside in honor of the parents of LeFrak Organization CEO Richard LeFrak and his sisters.

Posted on November 12, 2013

Featured Article
Guest Blogger Michael Stoler: REIT IPO Market, Strongest Year Since 2004
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The Trepp REIT Café report, reported that a total of 18 real estate investment companies (REITs) have gone public this year. It is the greatest number of IPOs since 2004, when 29 REITs went public. This year ranks fifth so far in the modern REIT era for IPO activity.
Year-to-date, seven new Mortgage REITs have gone public, raising more than $800 million. October’s REIT IPOs include two mortgage REITs. Cherry Hill Mortgage (CHMI) raised $130 million on October 3rd by selling 6.5 million shares for $20 per share.

The diversified REIT sector includes many specialized REITs and has been the source of significant recent IPO activity. Six companies in this sector have gone public during 2013, raising more than $2 billion. Specialized REITs that have gone public during 2013 include two single family rental REITs, as well as two data center REITs. OnOctober 8th, QTS Realty Trust (QTS), a data center REIT; raised $257 million by selling 12.3 million shares. QTS operates 10 facilities across 7 states.

2013 IPOs also include three office/industrial REITs. Most notably, Empire State Realty Trust (ESRT) debuted on October 1. The company raised $929.5 million with the sale of 71.5 million shares at $13 per share.

Posted on November 11, 2013

Featured Article
Press Release: SL Green Acquires Interest in 650 Fifth Avenue
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New York, NY – November 11, 2013 – SL Green Realty Corp. (NYSE: SLG) and partner Jeff Sutton announced today that they have formed a venture that has acquired a 49-year leasehold interest covering the entire retail portion of 650 Fifth Avenue. The transaction was completed with former US Magistrate Judge Kathleen A. Roberts, the court-appointed federal monitor and interim trustee of the landlord, 650 Fifth Avenue Company.

SL Green President, Andrew Mathias, said, “Situated in the heart of Fifth Avenue’s prime retail corridor at 52nd Street, 650 Fifth Avenue is a perfect fit for our expanding retail investment portfolio in partnership with Jeff Sutton. Our retail investments have proven to be a profitable complement to our core office and structured finance businesses and we will continue to seek new opportunities in New York City’s best retail locations.”

The investment provides the SL Green/Sutton partnership with control of the building’s basement, grade-level, second and third floor retail spaces that are currently occupied by Juicy Couture, Godiva Chocolate and Devon & Blakely.

Posted on November 11, 2013

Featured Article
Westside Market Heads East
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Next summer, 48-year-old, family-owned grocer Westside Market NYC has announced it will cross town and open a location on the East Side. The business’s fifth Manhattan location will be at 84 Third Ave., at the base of a new luxury rental building. Located in the East Village on the corner of East 12th street, the 18,871-square-foot market will be only four blocks from a Whole Foods and just two blocks from a Trader Joe’s, but Westside Market isn’t intimidated.

“I never try to avoid locations where my competitors are,” said George Zoitas, chief executive of the market, whose father, John, founded the business in 1965. “We offer something great at a reasonable price, so we can compete against them.

The new store will be a two-level space near NYU, and it will carry items similar to the locations on West 110th Street, near Columbia University, including smaller prepared food portions for individuals. Maria Zoitas, George’s mother, develops many of the recipes for the stores and even lends a helping hand with some of the cooking.

Posted on November 6, 2013

Featured Listing
Featured Article
Von Maur Opens First New York Location
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Von Maur Department Stores has opened its first location in the Northeast. The Midwest retailer opened a 140,000-square foot store at Eastview Mall in Victor, N.Y., which is just outside of Rochester.
“After several years of exploring the market, we’re excited to finally open our doors at Eastview Mall and make our mark in the Northeast,” said Jim von Maur, president of Von Maur. “The great Rochester area is a vibrant community with a strong history of quality retailers. We look forward to building on this local history and providing shoppers with our unparalleled customer service, selection, and overall shopping experienced we’ve prided ourselves on for more than 140 years.”

The two-level store anchors the mall’s southwestern wing in the former Bon Ton location, and it underwent a complete reconstruction in order to achieve Von Maur’s signature exterior brick façade with arching entryways accented by a copper roof and cupolas.

Posted on November 4, 2013

Featured Article
Guest Blogger Michael Stoler: Consumers are Expected to Increase E-commerce Holiday Shopping This Year
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The average U.S. shopper will make 39.5% of their holiday purchases via e-commerce sites this year, up from 38.8% last year, according to Shop.org.

The e-commerce arm of the National Retail Federation trade group says that would mark a high point of holiday e-retail.

The survey Shop.org also showed that:

* 51.5% of consumers will shop online this year, nearly unchanged from 51.8% last year. By comparison, 64.7% of consumers this year will head to discount stores for holiday purchases, with 51.1% heading to grocery stores, 35.1% to clothing and accessories stores, 29.5% to electronics stores and 20.9% to drug stores.

* 56.3% of consumers own smartphones and 34.0% own tablets. For smartphone owners, 53.8% will use their devices this holiday shopping season to check store hours, compare prices and buy items. For tablet owners, 63.2% of them will use their devices for those tasks.

Posted on November 4, 2013

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