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Sunday, March 6, 2011

Apple's Grand Central Plans Face Scrutiny

Apple's Grand Central Plans Face Scrutiny

"Apple would fit in well with the types of retailers already housed in Grand Central, said Peter Braus, executive vice president of Sierra Realty. The terminal contains a number of high-end shops like Tumi luggage and M.A.C Cosmetics, as well as gourmet food stores like Murray's Cheese Shop, Penzeys Spices and a seafood market with live lobsters and caviar.
"You want a tenant who is good at catering to a short attention span where consumers can make a quick decision and be in and out," he said. "Everyone these days is buying last mintue accessories for their iPods, or accessories. You could stop into the Apple store, get on the train and go home."
However, to open a store in the terminal, retailers must undergo a stringent approval process. The MTA issues a request for proposals to lease in the space and interested companies submit a detailed account of their retail operations and the amount they're willing to pay per square foot, MTA's Donovan said." 

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