The Real Deal New York

Posts Tagged ‘marshall’s’

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    From left: A rendering of the new George Washington Bridge Bus Station and the current structure
    Three retailers have deals for space within the soon-to-be-renovated George Washington Bridge Bus Station, helping to ensure the $183 million project will be a success.

    According to the Wall Street Journal, the Port Authority of New York & New Jersey’s partner in the plan, SJM Partners, has deals with discount retailer Marshalls, supermarket Fine Fare and a new gym chain called Blink Fitness. The trio plan to take about half of the 105,000 square feet of retail available when the renovation is complete in the summer of 2013. Construction is beginning this winter. … [more]

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  • A partnership of Joseph Chetrit, Yair Levy and Charles Dayan is looking to unload 620 Sixth Avenue, and according to the Observer, the nearly 800,000-square-foot mammoth anchored by Bed Bath & Beyond could fetch around $500 million in a sale. The landlords purchased the Chelsea property for $289.8 million in 2005, taking out a $235 million mortgage that they nearly defaulted on in the years following. But if recent blockbuster sales in the area are any indication ($900 million for the Starrett-Lehigh Building and $2 billion for 111 Eighth Avenue), it looks like they have a good chance of cashing in. For a buyer, the building appears to have significant upside, to boot. There are 250,000 square feet of additional development rights atop the existing structure, plus 75,000 square feet at an adjacent site that is zoned to allow for hotel development. … [more]

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  • Morgan Stanley’s global real estate fund and Starwood Capital Group are planning a joint bid for the U.S. shopping centers owned by troubled Australian landlord Centro Properties Group, according to Bloomberg News. Centro, whose roughly 600 U.S. properties were 88.3 percent leased as of June 30, put its assets on the block after falling victim to its own overzealous U.S. buying spree during the real estate boom. Among Centro’s properties are several malls in Westchester and Long Island, including Highbridge Plaza in Yonkers. Tenants include T.J. Maxx and Marshalls parent company TJX as well as grocery giant Kroger. … [more]

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  • Marshalls eyes space in Williamsburg

    January 14, 2011 06:23PM
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    Joseph Cayre and 242 Bedford Avenue

    Discount clothing department store Marshalls and drugstore CVS are interested in leasing space in a troubled development site in Williamsburg, once the stalled construction project is completed, several brokers said. The national chain retailers are looking at a lower-level space at 242 Bedford Avenue, just south of North 4th Street, the brokers, who asked to remain anonymous, said. The half-built site is owned by Yehuda Backer’s Williamsburg-based Backer Group, which halted construction several years ago. Instead, the parcel has only steel shells with no current construction evident.
    [more]

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  • Flushing’s new 800,000-square-foot shopping mall has opened its doors, the Wall Street Journal reported, with several big box retailers already lined up. BJ’s Wholesale Club, Best Buy and Bob’s Discount Furniture
    are among the Sky View Center’s tenants that have already opened. The
    development, which will be fully completed in 2011, is currently 75
    percent leased, with additional retailers like Target, Marshall’s and
    Old Navy expected to open their doors in the fall. Michael Dana,
    president of Onex Real Estate Partners, the project’s developer, said
    that he believes the mall’s location will make it a success. “There is
    no shortage of patrons to Flushing, but it is dramatically underserved
    from a retail and residential perspective,” Dana said. [WSJ]

    [more]

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