4th Quarter 2010: Boston’s Ravenous Appetite Devours Retail Vacancies With Bostonians eating out more frequently and spending more on luxury items, seasoned restaurateurs have taken the proverbial “bull by the horns” and led the charge, absorbing dozens of retail spaces by both expanded existing spaces and having opened new concepts. Led by Boston’s entrepreneurial restaurateurs, […]
Facing identical store sales of a negative 4.9% in its third quarter, grocery store owner operator SuperValu Inc. is planning to cut costs including layoffs and closures and/or the sale of some of its store brands in the Northeast U.S. As a group, SuperValu’s Northeast banners pulled down corporate-wide store sales by more than 150 […]
There usually are no second acts in real estate. If you develop a property and it does not pan out like you thought, usually another firm gets a chance to clean up the mess. That’s what makes the case of the 305,303 sq. ft. Woodbury Lakes open-air lifestyle center in Woodbury, Minn., a bit […]
The partners at Sweetgreen wanted to come up with a new concept for fast food when they started their business right out of college. Image: Courtesy of Sweetgreen It’s all very hip, very green, and very targeted to what you might call the “Whole Foods” demographic. A fast-food chain founded by a trio of twentysomethings, […]
When Thomas Koch, mayor of Quincy, announced in 2009 a $1.2 billion plan to renovate downtown Quincy, he and the project’s master developer, New York-based Street-Works LLC, promised a dynamic master plan with an aggressive implementation schedule. Following through on their pledge, the City of Quincy and the Street-Works team formalized the master agreement referred […]
Federal Realty Investment Trust (NYSE:FRT) expanded its South Florida retail portfolio thropugh the acqquisition of Tower Shops, a 372,000-square-foot community retail center on 67 acres in Davie, FL for $66.1 million. Turnberry Assocviates previously owned the center. According to the buyer, the property has significant opportunity for redevelopment and expansion with an anchor tenant line-up […]
Despite Federal Reserve chairman Ben Bernanke’s expectations of only moderate economic growth this year, Americans are less worried about losing their jobs and more willing to spend money. This change in attitude is reflected in the numbers. The Commerce Department reported that retail sales were up in December, the sixth month in a row, making […]
Press Release Source: Yum! Brands, Inc. On Tuesday January 18, 2011, 10:35 am EST LOUISVILLE, Ky.–(BUSINESS WIRE)– Yum! Brands, Inc. (NYSE:YUM – News) today announced its plans to place its Long John Silver’s and A&W All-American Food Restaurants for sale, and has begun a process to identify a buyer. The Company is sharpening its long-term […]
More than 7 million sq. ft. of retail projects slated for completion in 2010 were delayed or cancelled. This pullback in construction led to only 4.1 million sq. ft. of retail space coming on line, the lowest figure for annual deliveries in the 30-year history of Reis. The recovery prospects for the retail sector will […]
