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Tucker Development Receives Approval for Downtown Fort Lee Project

Fort Lee Borough Planning Board granted site plan approval to Tucker Development Corp. for Hudson Lights, an eight-acre mixed-use project in downtown Fort Lee, N.J. The project will feature 165,000 sq. ft. of ground-level retail space, 477 residential units and options for a 175-room hotel, an office building and 1,200 parking spaces.

“We are pleased to have secured approval to move forward with this state-of-the-art, mixed-use development that is a key part of the dynamic and transformative plans for this Gold Coast community,” said Tucker Development President and CEO Richard H. Tucker in a statement.

“We’ve worked to create a vibrant shop, dine and live quality environment; one of which, when completed, we will all be proud.”

Simon Opens Merrimack Premium Outlets

Simon Property Group opened Merrimack Premium Outlets, a 410,000-sq.-ft. upscale outlet center in Merrimack, N.H. The center contains 100 stores, including Bloomingdale’s, Saks Fifth Avenue, Brooks Brothers, Ann Taylor, Banana Republic, Coach and Calvin Klein, among others.

“Merrimack Premium Outlets brings together an impressive collection of many of the finest brands, offering value, quality and selection all in one convenient location,” said John R. Klein, president of Simon’s Premium Outlets division, in a statement. “The Merrimack site is centrally located between Boston, the sea coast and the mountains, providing a great location to serve area residents and numerous visitors.”

Costco to Open New Store in New Orleans

Costco Wholesale Corp. signed a lease with The Feil Org. for a 148,000-sq.-ft. store at the site of the former Carrollton Shopping Center in New Orleans.

Glen Wilson represented the landlord in the transaction, along with Larry Rabin and Jonathan Fawer. Michael S. Stratis, of Intrepid Properties, represented the tenant.

The retailer plans to open the new store in the spring of 2013.

CBL to Redevelop Anchor Space at Richmond’s Southpark Mall

CBL & Associates Properties Inc. will redevelop a former Dillard’s store at its Southpark Mall in Richmond, Va. into a 56,000-sq.-ft. Dick’s Sporting Goods and a selection of specialty stores and restaurants.

CBL plans to start construction on the project in October, with opening scheduled for the summer of 2013.

Other Notable News

Ross Dress for Less signed a lease for a 35,000-sq.-ft. store at St. Louis Mills in Hazelwood, Mo. The retailer plans to open its new location in the spring of 2013.

Harbor Freight Tools signed a 20,000-sq.-ft. lease at Bricktown Square in Chicago. Mary Beth Menelli-Iveljic and Jaime Platt, of Mid-America Asset Management Inc., represented the landlord in the transaction. Branson Edwards, of Grubb & Ellis, represented the tenant.

Yogurt Crazy signed a 1,500-sq.-ft. lease and T-Mobile a 1,000-sq.-ft. lease at Nassimi Realty’s East Meadow Commons shopping center in Hempstead, N.Y. Both retailers plan to open this summer.

Platt Retail Institute appointed Margaret Mager to its advisory board. Mager serves as president of Broadview Advisors. In the past, she also worked as a managing director and business unit leader for the retail industry in the global research division of Goldman Sachs.

SRS Real Estate Partners promoted Tom Power and Todd Wallace to executive vice presidents. Power has been with SRS for more than 13 years. He serves as managing partner for SRS Real Estate Partners—Northwest LLC and market leader for northern California markets. Wallace has been with the firm for more than seven years. He is the market leader for Austin and San Antonio, Texas offices, as well as co-market leader for the Houston office.

Paragon Outlet Partners hired Rebecca Galuppo as assistant general manager for Paragon Outlets Grand Prairie, a 420,000-sq.-ft. center in Grand Prairie, Texas. In her new position, Galuppo will be responsible for property operations, budget administration, tenant communications, marketing and staff management. She has more than 10 years of experience in retail marketing management. Previously, she worked as marketing director at Outlets at Hillsboro.

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