Retail

Food Bazaar Supermarket signed an 80,000 SF lease at the one million square-foot retail center.

The Southport, CT-based development firm says the extremely discounted price will allow Summit Development to renovate and reposition the 1.2 million-square-foot complex.

To combat growing vacancies, the Third Street Promenade is shifting to focus on restaurant and foodservice tenants.

Both the redevelopment of historic buildings and new construction is changing the city's CBD.

The average asking rent across Manhattan's 16 main retail corridors dropped 8.4% year-over-year, falling from $875-per-square-foot to $802 per-square-foot.

The Osprey will be among the first projects using the Prescient modular offsite construction solution to go vertical in the Atlanta market.

The project has already received very strong local demand with more than 76% of homes sold since sales began in January, company officials state.

There will be winners and losers under the retailer's reorganization but many mall owners have made contingency plans for this very event, according to CBRE.