ICSC 2014

Long-stalled BJ’s in New Jersey To Get $50M For Resurrection

The inside of a BJ's Wholesale Club

A new BJ’s Wholesale Club store in Howell, N.J., will receive $50 million in funding from Fox Chase Bank brokered by Eastern Union, Mortgage Observer has first learned.

The project, underway at Route 9 and Lanes Mill Road, will anchor a nearly 300,000 square foot retail center. Eastern’s Eli Breiner just sewed up the deal yesterday, finalizing the details while in Las Vegas at ICSC REConRead More

Sales Beat

SL Green $122 M. Retail Purchase Highlights Metered Q4 Growth

131-137 Spring Street

City records confirm real estate powerhouse SL Green Realty’s acquisition of a six-story retail, office and residential building at 131-137 Spring Street for $122.3 million late last year.

The acquisition of the prime retail location, adjacent to Chanel‘s Soho Flagship store, capped off what company executives lauded as a stellar fourth quarter given the economic uncertainty that permeated the industry in 2012.

“It was an excellent, excellent quarter as a standalone, and particularly in light of the headwinds,” SL Green CEO Marc Holliday said during the firm’s fourth quarter earnings call, referring specifically to the impacts of Hurricane Sandy, the uncertain election and the fiscal cliff crisis. Read More