Discount Store Family Dollar Has a 10-year lease in Riverside,CA

NNN Lease Market News

Discount store Family Dollar has a 10-year lease on a location on Van Buren Boulevard in Riverside, according to a statement from the commercial real estate company that helped put the deal together.

Family Dollar will take up a 10,000-square-foot site at Van Buren Plaza, on Riverside's west side. They are leasing the store from Tustin-based Kensington Real Estate Group.

A Hesperia shopping center anchored by a Fresh & Easy market has been sold to an Irvine-based real estate investment trust for $13.5 million, according to a statement.

The 52,000-square-foot Topaz Marketplace, in the 14100 block of Main Street, is three years old and 100 percent occupied. Other tenants include DeVita Dialysis, Wood Grill Buffet and Metro PCS.

The price, $253 per square foot, is considered one of the healthiest of the year for retail properties with a price tag above $10 million, according to Faris Lee Investments, a commercial real estate firm that specializes in retail deals.

http://www.pe.com

Lululemon Envy Has Chains From Gap to Nordstrom Pushing Yoga

NNN Lease Market News

Gap, Nike and Nordstrom may have something in common: Lululemon envy. Seeking to lure shoppers willing to spend $98 on stretchy yoga pants, these retailers are mimicking the strategy of Lululemon Athletica Inc. (LULU), the sports apparel company known for its pricey yoga gear.

Nike Inc. (NKE)’s Salvation chain of athletic-wear stores is selling $64 training capris and features a yoga-studio format similar to that of Lululemon. Gap Inc. (GPS)’s Athleta stores sell $60 women’s yoga tops and offer free yoga classes -- another Lululemon innovation.Nordstrom Inc. (JWN)’s Zella line, dedicated to yoga attire, hired a Lululemon alum to introduce the effort.

http://www.bloomberg.com/news

D.C.'s Office Market Has Lifted The Values

NNN Lease Market

The strength of Washington, D.C.'s office market, which has lifted the values of some properties to boom-era levels, also has helped busted developments in the nation's capital.
Take the case of two Washington projects by Opus East LLC, a large mid-Atlantic merchant builder that filed for bankruptcy liquidation, along with two other sister companies, in July 2009. Those filings jammed the brakes on about 150 projects valued at more than $1.5 billion across the country. So far, only about a third of those projects have been restarted, sold or completed, according to Dennis Ryan, an attorney for Opus Corp., the parent company.
Among the survivors: the new headquarters of the National Oceanic and Atmospheric Administration and a 400,000-square-foot speculative office building near the new Washington Nationals baseball park. In recent weeks, construction giant Skanska AB restarted work on the NOAA building and began putting the final touches on the office building.

http://online.wsj.com/article