Author Archives: Mike Pallerino

What a successful tenant improvement project looks like

So you’re considering tenant improvements. Before you jump right in, ask yourself the following questions: What are you trying to accomplish? What’s your ultimate goal? Is it just to make things a little nicer for employees or guests? Or is …

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Wegmans making its first foray into NYC

Wegmans is entering New York City for the first time with a 74,000-square-foot store in the Brooklyn Navy Yard. The supermarket is expected to open in the fall and will be one of three new locations to open this year. …

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Madewell IPO could be part of J. Crew’s turnaround plans

J. Crew’s turnaround plans could include spinning off its popular Madewell brand into a separate, publicly-traded company. Madewell booked a 26% sales increase last year, and an IPO for the brand could come as soon as the second half of …

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BMO: Old Sears, Kmart stores suitable for Amazon’s Whole Foods

As many as 110 old Sears and Kmart stores might be of interest to Amazon for Whole Foods grocery operations because of the surrounding demographics, according to a client note from BMO Capital Markets. Read the CNBC story here

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Paseo Nuevo Mall in California begins renovations

A multimillion-dollar renovation has begun at Paseo Nuevo Mall in Santa Barbara, California. Owner Pacific Retail Partners Capital is adding new restaurants and stores, as well as fire pits, a water feature, charging stations and a bocce ball court. Read …

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Walmart plans big changes at 500 US stores in 2019

Walmart will invest $11 billion in its stores this year, with plans to remodel 500 locations for expanding digital commerce and improving the supply chain. Remodels will include a long list of changes including adding self-checkout kiosks, re-merchandising grocery and …

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Blackstone expands Hawaii portfolio

Blackstone Group said it purchased the Courtyard by Marriott King Kamehameha‘s Kona Beach Hotel in Hawaii. The company bought Maui’s Grand Wailea for around $1.1 billion. Read the Hawaii Tribune-Herald story here

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Hotel development heats up in Dominican Republic

The Dominican Republic is a hot spot for hotel development in the Caribbean. The country has more than 6,200 rooms under construction, per STR. Read the Travel Weekly story here

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Kimpton launches new concert series

Kimpton Off the Record is a new concert series by the hotel brand. Read the Hotel Business story here

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Investment firms to buy Shopko HQ, 75 stores

New York investment firms Monarch Alternative Capital and Raider Hill Advisors will acquire approximately 75 Shopko stores as well as the retailer’s Wisconsin headquarters for an undisclosed amount. The deal with Shopko, which filed for bankruptcy protection earlier this year, …

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