Real Estate Weekly
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Retail

RETAIL BRIEFS: Pet Valu; YSB Salon; mimi&mo; McNally Jackson

●SABRE REAL ESTATE GROUP
‘Whole Foods for pets’ expanding

Sabre Real Estate Group has arranged a lease that will give Pet Valu, a Canadian-based specialty pet supplies retailer, its sixth Long Island location.
The chain, considered the Whole Foods of pet food and supplies, has signed a lease for 3,600 s/f at the Barnum Landing Shopping Center.
The store is expected to open in summer 2014. Pet Valu has opened stores in Oyster Bay, Hauppauge, New Hyde Park and South Setauket on Long Island.
Jayson Siano, managing principal of Sabre, and Sabre director Melissa Naeder arranged the lease as Pet Valu’s exclusive real estate brokers on Long Island. The landlord, is Barnum Land Development LLC.

JAYSON SIANO
JAYSON SIANO

Pet Valu, founded in Markham, Ontario, in 1976, has been expanding in the U.S. from Virginia to Connecticut since 1995.
The stores offer holistic and organic pet foods, treats and supplies. The majority of the products are not sold in supermarkets and the stores do not sell pets.
Owned by the Atlanta-based private equity firm Roark Capital Group, Pet Valu operates more than 400 stores throughout North America.
Pet Valu is seeking locations in strong communities in dominant neighborhood shopping centers often anchored by organic grocers or leading supermarket chains. Space requirements range from 2,000 to 5,000 s/f.

●DOUGLAS ELLIMAN
Harlem street gets tressed up

The leasing and sales team of Faith Hope Consolo, chairman, and Joseph Aquino, executive vice president, along with Arthur Maglio, of Douglas Elliman’s Retail Group, is bringing full-service hair and beauty stylist YSB Salon to 2520 Frederick Douglass Blvd.
The store is one of a new portfolio that the team is exclusively representing, with spaces primarily located in Central Harlem.
“We were instrumental in transforming the retail landscape in the southern part of the district, and now we are going to upgrade the profile here,” said Consolo.

ARTHUR MAGLIO
ARTHUR MAGLIO

“This salon is a prime example of catering to the neighborhood’s changing needs because it offers many spa-like services, not yet seen here.”
According to Maglio, the area north of 125th Street has become the next frontier for new restaurants and shops in Harlem.
“There is an educated consumer base in the area, with disposable income, that would welcome better retail and services,” he said.
Consolo, Aquino and Maglio represented both the landlord, The Greater Harlem Housing Development Corporation, and the tenant. The space was previously occupied by the Beauty Center.

● TF CORNERSTONE
Fashion statement in LIC

A new women and children’s boutique, mimi&mo, has signed a long-term, 1,239 s/f lease on the ground floor of TF Cornerstone’s 4545 Center Boulevard, Long Island City’s largest luxury rental building that leased up in February.
The cstore, designed by award-winning architecture and design firm Slade Architecture, will open on the waterfront thoroughfare this month and has plans to launch an e-commerce website.
“Our boutique will reflect the unique culture and fun spirit of the neighborhood with products that have been hand-selected for the stylish women and children of Long Island City,” said founder and owner of mimi&mo, Miriam Zeldovich, who is also an LIC resident and the vice president of planning for the United Legwear Company.
“We look forward to serving the community and becoming a specialty destination for residents and visitors alike.”
“We have seen tremendous demand for retail among the young couples and families that have flocked to the waterfront,” said Steve Gonzalez, director of retail leasing for TF Cornerstone. “mimi&mo will be the first clothing boutique to open on Center Boulevard and is great fit for the neighborhood. We anticipate that the store will serve even more women and children when our sixth and final new rental building, 4610 Center Boulevard, opens in Spring 2014.”

●sabre real estate group
Beauty spot at new mall

Sabre Real Estate Group LLC has arranged a lease in the Mall at Bay Plaza in the Bronx for ULTA Beauty, a national beauty retailer.
ULTA Beauty will occupy 11,400 s/f in the now-under-construction, 780,000 s/f fashion mall, at the intersection of the Hutchinson River Pkwy. and I-95.
The store is expected to open in the third quarter of 2014, when the mall is completed. It will Ulta’s first store in the Bronx.
Jayson Siano, managing principal of Sabre, represented Ulta along with Doug Bomzer, a Sabre associate director, and the late Beth Lamport. Jerry Welkis of Welco Realty represented the landlord.

●thor retail advisors
New chapter for book store

Independent bookstore McNally Jackson will open its second location at 76 N4th Street in Williamsburg, Brooklyn, Thor Retail Advisors CEO Joseph Sitt announced.
Thor brokered the deal as exclusive agent for Jacob Toll and Cayuga Capital, landlords of the property.
“It is rare in the digital world we live in that an independent bookstore could not only survive, but also thrive. McNally Jackson has done just that at its Nolita location in Manhattan. Bringing this wildly popular literary hub to a neighborhood like Williamsburg is a tremendous opportunity,” said Matthew Seigel, executive Vice President of Thor Retail Advisors.
“Williamsburg’s culture is perfect for McNally Jackson’s second location.”
The store which has seen its popularity soar in Manhattan with a coffee shop and community-focused classes, is looking at the possibility of opening a wine bar and a stationary store at its newest location.
McNally Jackson will occupy 2,400 s/f plus a 1,200 s/f mezzanine as the first retail tenant for the property.
As exclusive representatives for the landlord, Thor Retail Advisors represents the entire 19,000 s/f retail portfolio at the base of an 83 unit residential building of the former Lewis Steel Factory currently in redevelopment by Jacob Toll and Cayuga Capital Management.

 

●norman bobrow & co
Deal by Association

DAVID TORDJMAN
DAVID TORDJMAN

Norman Bobrow & Company announced that United Security NYC, a hardware store, signed a 10-year lease for 2,000 s/f at 8-10 Avenue B on the Lower East Side.
The terms of the lease were not disclosed.
David Tordjman of Norman Bobrow & Company, represented the tenant and Yesim Ak, of Misrahi Realty, represented the landlord, Lower East Side Housing Association.

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