Triple Five Worldwide signed an agreement with DreamWorks Animation SKG Inc. to open the first North American theme park to exclusively feature DreamWorks characters at the American Dream at Meadowlands complex in East Rutherford, N.J. DreamWorks films include Shrek, Kung Fu Panda, Madagascar, Puss in Boots and How to Train Your Dragon.
“American Dream at Meadowlands is working with the most creative minds in the entertainment business,” said Triple Five President Don Ghermezian in a statement. “The theme park will have direct input from the creative talents behind the films to create a park experience that will attract a global market.”
Triple Five plans to open the first phase of the project in late 2013.
McArthurGlen to Open New York Office, Appoints Andrew Schulman SVP
McArthurGlen appointed Andrew Schulman as senior vice president of leasing for North America. Schulman will open the firm’s first business office in New York City.
Previously, Schulman served as executive vice president of leasing with Thor Equities LLC. While there, he oversaw leasing for projects in Mexico and U.S. He has also worked for Millennium III Real Estate Corp., Century Properties and Westfield Inc.
“We are delighted that Andrew is joining McArthurGlen and bringing nearly three decades of real estate and retail real estate expertise to the company,” said McArthurGlen Chairman Joseph W. Kaempfer, Jr. in a statement. “His close relationships with leading luxury brands and his understanding of the North American market will be substantial assets to the company’s fast-growing portfolio of designer outlets.”
REI Plans First Store in Kansas
REI signed a lease for a 23,500-sq.-ft. store at Prairiefire at Lionsgate in Overland Park, Kan. The store will be its first in the state. The retailer plans to open the store in the fall of 2013.
Duane Reade Adds Upscale Store at 100 Broadway
Duane Reade will open a 22,000-sq.-ft. store at 100 Broadway in New York City. The store will feature up market features such as a gourmet salad bar, a café and self-serve hot soup station, a frozen yogurt station and pharmacy services, as well as an in-store museum quality exhibit. The exhibit, the first of its kind for a Duane Reade store, will pay homage to downtown Manhattan and historic events that were celebrated on Broadway, including the 1960 Presidential election and the 1969 walk on the moon.
“The concept-forward store design fits the rich innovative structural history of 100 Broadway, while incorporating the best ideas of Duane Reade and Walgreens partnering to create a truly unique store experience,” said Michael De Fazio, Duane Reade’s senior director of store concepts, in a statement.
Gap to Build Flagship Store on Lincoln Road in Miami Beach
Gap Inc. signed a lease for a 20,000-sq.-ft. flagship store at 1001 Lincoln Road in Miami Beach, Fla. Michael Comras and Jonathan Fryd, of the Comras Co., represented the landlord in this transaction.
The property is part of the National Register Miami Beach Architectural District and when completed, will incorporate a two-story rounded glass façade/entrance, a deep eyebrow cornice, louvered shades, a grand staircase and an existing monumental parapet that will honor the building’s 1950’s design origins. Construction on the store will begin in early 2013.
Regency Reaches 84 Percent Pre-Leasing Level at Southpark at Cinco Ranch
Regency Centers signed leases with four new retailers at Southpark at Cinco Ranch in Fort Bend County, Texas. The center is scheduled for opening in December 2012. It is currently 84 percent pre-leased.
Subway signed a 1,400-sq.-ft. lease at the property, Menchie’s Frozen Yogurt a 1,800-sq.-ft. lease, Supercuts a 1,125-sq.-ft. lease and DentalOne Partners a 3,000-sq.-ft. lease.
Other Notable News
Youfit Health Clubs signed a 10-year lease for a 12,000-sq.-ft. facility at Crossings Shopping Village in Kendall, Fla. Manny Vacas, of Terranova Corp., represented the landlord in the transaction.
SRS Real Estate Partners opened a new office in St. Louis. The firm hired Tom Weiler as senior vice president and market leader for the new office. Weiler has more than 22 years of experience in commercial real estate and specializes in retail leasing, development and acquisitions. Previously, he worked at Foundation Commercial.
GBT Realty Corp. promoted Austin Rogers to vice president of net lease development services, Christina Underwood to net lease development manager and Jason Horowitz to net lease development services associate. Previously, Rogers served as development manager, Underwood as development services associate and Horowitz as capital advisory analyst.
Marcus & Millichap Real Estate Investment Services promoted Steven Weinstock to vice president. Weinstock previously served as regional manager of the firm’s Oak Brook, Ill. office. He joined Marcus & Millichap in 2001.