REAL ESTATE

New York - The long delayed American Dream mega-mall and entertainment project at the Meadowlands in East Rutherford, New Jersey,  will open—at least partially— in the fall of 2016 and has signed on such tenants as Victoria’s Secret, Saks Fifth Avenue, Lord & Taylor and Gap and an array of restaurant and entertainment destinations, including a Cirque du Soleil theatre, according to The Record.    

If you’re like me, and you were curious about how Black Friday hype translated into retail sales, your head is spinning right about now. Because the flurry of post-Black Friday news reports is packed with conflicting information, data that doesn’t seem to add up, and—perhaps unsurprisingly given those disparities—wildly variant conclusions about whether the Black Friday weekend was a “success” or a “disappointment” and about what is in store for the rest of the holiday season.

Melville, New York - A&G Realty Partners, a commercial real estate, advisory and investment group, has been retained by Alco Stores to manage the sale of approximately 200 Alco store locations, as well as the company’s former headquarters. The sale is a result of the retailer’s Chapter 11 bankruptcy filing on October 12, 2014.  

Tulsa, Oklahoma - Simon announced plans to bring Tulsa Premium Outlets to northeast Oklahoma. The project will be built in two phases at the intersection of US Highway 75 and West 61st Street in Tulsa. The first phase of the build out will be approximately 318,000 sq. ft. and an additional 82,000 sq. ft. will make up the second phase for a total of 400,000 sq. ft.  

Tarrytown, New York - DLC Management Corporation announced its latest acquisition of 11 retail assets in New York, North Carolina, Arkansas and Tennessee totaling 2.58 million sq. ft., of which 1.73 million sq. ft. is owned property.   According to DLC, this acquisition is the largest in its history. The The properties include:  

• 2015 Walden Avenue, 26,500 sq. ft. – Cheektowaga, New York
• Batavia Commons, 49,431 sq. ft. – Batavia, New York

New York  - New York, Chicago, Las Vegas, Miami and San Francisco rank at the top of the list, reporting the highest luxury sales in per square foot,  according to JLL’s “The New World of Retail Report.”  But while core metro areas ranked at the top of the list of preferred locations, several emerging retail markets like Dallas, Houston and Orlando possess the attributes for longer term success driven by ongoing population and income growth.  

Los Angeles - The Ratkovich Company, with partners National Real Estate Advisors and Blue Vista Capital, announced that Macy's at The Bloc will receive a major upgrade to become a downtown Los Angeles flagship store. The partners will also bring San Francisco-based men's emporium Wingtip to The Bloc, along with a new retail gallery concept conceived in collaboration between CNTRLgroup and Otto Design Group.   

Simon Premium Outlets heads into 2015 with 6.4 million sq. ft. in development  New York - Simon Property Group is expanding its Premium Outlets portfolio with a worldwide development pipeline of 6.4 million square feet and a total investment of $2.5 billion.