ICSC 2014

New Yorkers’ Love/Hate Relationship With Chains

New Yorkers: Nuts for Five Guys.

New Yorkers like to fancy themselves sophisticates, but when it comes to chowing down on a Five Guys burger, chugging a Starbucks coffee or finding a clothing bargain at Nordstrom Rack, they often react like the rest of the nation: with giddy excitement.

Take the May 27 opening date for the first Manhattan Dairy Queen. Fans are stoked that the Midwestern Blizzard purveyor will come to 54 West 14th Street with a 110-seat eatery. And while Chick-fil-A has been catching heat for its president dissing gay marriage, local lovers of the nation’s largest chicken chain are happy it will expand in the city beyond its one location on the New York University campus. Read More

Nordstrom Confirms First Queens Location

Rack

Seattle-based Nordstrom has confirmed its plans to open its first Queens location at Onex Real Estate PartnersThe Shops at SkyView Center in Flushing.

The approximately 39,000-square-foot, two-level Nordstrom Rack is scheduled to open Fall 2014.

“We are excited about the opportunity to be a part of a dynamic retail center within a vibrant neighborhood Read More

Sales Beat

Nordstrom Pays $102.5 M. for Midtown Flagship

(Photo: nuancemarketing.net)

Seattle-based luxury retailer Nordstrom has reportedly paid $102.5 million for the site of its future Midtown flagship store at 225 West 57th Street.

The seven floor store will anchor a massive 88-story, 1,550-foot residential condo tower that Extell Development is building at the site.

The retailer said its store will encompass 285,000 square feet when it Read More

Retail

Nordstrom Rack to Open in Downtown Brooklyn Next Year

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A 41,000-square-foot Nordstrom Rack is slated to open at United American Land’s 505 Fulton Street in spring 2014.

“We want to be in the top locations across the country, so this spot at the heart of downtown Brooklyn is big for us,” said Geevy Thomas, president of Nordstrom Rack, in a prepared statement. “We are thrilled to become back of this exciting community at a historic location, and we intend to make the most of the opportunity to serve customers and give them a reason to shop the Rack.” Read More

ICSC

Fulton Maul: Culture Clash Ensues in Downtown Brooklyn

Armani Exchange at the City Point Development

With the long-awaited Barclays Center open and new residential and mixed-use development projects popping up across Downtown Brooklyn, a retail conundrum is growing along the 17-block Fulton Mall.

The national and in some cases high-end retailers moving onto the strip paint a stark contrast to the long list of mom-and-pops, local discounters and jewelry shops that once almost exclusively lined the street. Read More

UPDATE: Nordstrom Rack Eyeing 1095 Sixth Avenue

1095 Avenue of the Americas (photo courtesy of Cushman & Wakefield)

Nordstrom Rack is reportedly in talks to snap up the 36,000 square foot Bryant Park retail space that is currently housing an NFL pop-up store.

The retail space at 1095 Avenue of the Americas, an office tower owned by the Blackstone Group, has been used as a pop-up store by Dylan’s Candy Bar and now the NFL, which is occupying the space in part to countdown its upcoming NFL Draft.  Read More

Lease Beat

Coffee Shop and Attractive Waiters Ink Renewal Deal at 27 Union Square West

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The popular Union Square eatery The Coffee Shop has renewed its retail lease at its long time home at 27 Union Square West and also office space it has upstairs in the building.

The deal totals about 20,000 square feet and stretches for ten-years, according to Eric Gural, an executive at the real estate services firm Newmark Knight Frank who oversees leasing at the property and whose family owns the nearly 50,000-square-foot box-shaped, boutique building.
Read More