REAL ESTATE

Irvine, Calif. -- Irvine Company announced a major $150 million reinvestment in Irvine Spectrum Center located in Irvine, California, in the heart of Irvine Spectrum, a mixed-use community that provides a balanced district of retail, office, and living space.

Target Corp.’s newest partner is a cycling studio chain knows for its high-intensity (and pricey) workouts and devoted, cult-like following.

The retailer has teamed up with SoulCycle to launch a 10-city tour that will offer special three-day weekend events in select markets with complimentary classes taught by certified SoulCycle instructors.

Redding, Calif. -- Rouse Properties announced it has significantly improved key operating metrics at Mt. Shasta Mall located in Redding, California, through execution of its leasing strategy with prominent national and regional retailers, as well cosmetic enhancements to the interior and exterior of the mall.

St. Petersburg, Fla. -- The Sembler Company added 420,000 sq. ft. of new acquisitions to its portfolio in 2015, in addition to breaking ground on three new shopping centers and inking deals for three more – all while maintaining more than 95% portfolio occupancy.

Oakbrook Terrace, Ill. -- Mid-America Asset Management announced that the firm recently secured three new retail leases on behalf of Orland Park Crossing located in Orland Park, Illinois. Orland Park Crossing is a 107,371-sq. ft. lifestyle center featuring tenants White House | Black Market, Talbots, Charles Schwab, Ann Taylor, Charming Charlie and more.

Gaithersburg, Md. -- Elion Partners announced it has completed capital improvements for Goshen Plaza in Gaithersburg, Maryland. The 45,654 sq. ft., CVS-anchored shopping center has undergone upgrades to its exterior, landscaping and parking lots.

“Our goal is to increase visibility and enhance the customer’s experience while at Goshen Plaza,” said Juan DeAngulo, managing principal, Elion Partners. “The capital improvement project ensures Goshen Plaza will remain a top community destination for years to come.

Philadelphia -- PREIT announced that Ron Rubin will step down as the company's executive chairman, a role he's held since 2012, effective June 7, 2016. Rubin will continue in his role as chairman of the board.

Kansas City, Mo. -- Taubman Centers and The Macerich Company announced an agreement to purchase Country Club Plaza located in Kansas City, Missouri, from Highwoods Properties. Taubman and Macerich will each have a 50% interest in the center, which will be jointly managed by both companies. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Concurrent with or shortly after closing, a long-term, fixed-rate loan for 50%-60% of the purchase price is expected to be placed on the asset.