REAL ESTATE

  • GGP’s warrants acquired by Brookfield affiliates

    Chicago -- General Growth Properties said Thursday it was informed by Brookfield Asset Management that affiliates of Brookfield acquired the GGP warrants held by affiliates of Pershing Square Capital Management.

    The warrants represent the right to acquire 18.43 million shares of GGP stock at a value of $0.01 per share.

    General Growth also said it has been offered by Brookfield the right to acquire the warrants, for the same price of $271.88 million paid by Brookfield, within the next 30 days.

     

  • The Value Matrix

    At a time of year when much of the retail news we hear focuses on receipts and holiday sales performance, I can’t help thinking that the notion of value has become synonymous with price — and only price. You can make the argument that price has nearly hijacked the whole definition of value. Why is that, exactly? Should retailers be paying closer and more systematic attention to how they articulate (and how customers perceive) the value of their brand?

  • Polaroid to launch new retail concept with 10 stores in 2013

    New York -- Polaroid has announced plans to launch a new experiential retail concept called Polaroid Fotobar, opening at least 10 locations in 2013. The stores are designed to allow consumers to take the images from their digital devices and easily turn them into museum-quality art. Polaroid Fotobar envisions the stores becoming a recreational and entertainment destination in addition to a place to shop.

  • Dollar Tree to expand distribution center

    CHESAPEAKE, Va. -- Dollar Tree has announced that it intends to expand its distribution center in Marietta, Oak., by an additional 400,000 sq. ft. More than 100 full time positions will be created as a result of the expansion.

    The facility in Marietta opened in 2003 and is currently 603,000 sq. ft. This facility supplies products to stores across eleven states, including all of Oklahoma, Kansas, Colorado, New Mexico and Texas, and portions of Louisiana, Arkansas, Missouri, Nebraska, South Dakota, Wyoming and Montana.

  • Outlet Shoppes at Atlanta will open earlier than expected

    Atlanta -- CBL & Associates Properties and Horizon Group Properties announced that their jointly owned Outlet Shoppes at Atlanta will open one month earlier than previously announced – or on July 18, 2013.

    Located in the North Atlanta suburb of Woodstock, Ga., the 370,000-sq.-ft. initial phase of the center will feature such designer outlet names as Nike, Saks Fifth Avenue OFF 5TH, Bose, Brooks Brothers, Columbia Sportswear, Cole Haan, White House|Black Market, Guess, Fossil, Michael Kors, Under Armour, and Talbots.  

  • Forecast: Value stores, luxury shops, restaurants to lead retail development in 2013

    Chicago -- The value and luxury classes of retail will supply the most construction opportunities in 2013, according to a forecast by Englewood Construction. The Lemont, Ill.-based commercial builder also predicted an uptick in restaurant development and a squeeze on middle-market retail.

  • Conn’s opens three HomePlus stores

    The Woodlands, Texas -- Conn’s announced the opening of three Conn’s HomePlus stores in El Paso and Fort Worth, Texas, and Tucson, Arizona.

    The new Conn’s HomePlus store format showcases furniture and mattresses in addition to the leading brands and the latest technologies in consumer electronics and home appliances.

     

  • Overton Ridge welcomes Rally House; Park Tavern leases at City Place

    Dallas-Fort Worth -- Venture Commercial announced that Park Tavern will open a Fort Worth, Texas, location in downtown City Place Center.

    The 8,111-sq.-ft. space will be Park Tavern’s second DFW location. The original location is in the Shops at Park Lane in Dallas.

    Venture also announced that sports apparel retailer Rally House Texas has leased a 9,228-sq.-ft. space in the Overton Ridge Shopping Center, located in Fort Worth.  

     

  • CBL announces John Foy to retire

    Chattanooga, Tenn. -- CBL & Associates Properties announced that John N. Foy has retired as an officer of the organization and as a director and vice chairman of CBL’s board of directors.

    Foy will remain until the end of the year to assist with the transition. His retirement concludes a 44-year career with the CBL organization and its predecessor company.

     

  • Pine Tree acquires Bloomington Grocer

    Northbrook, Ill. -- Pine Tree Commercial Realty said its affiliate has acquired a Rainbow Foods grocery store in Bloomington, Minn.

    The purchase expands the real estate development firm’s portfolio of shopping centers to include freestanding grocery stores.

    The 64,130-sq.-ft. building is fully leased to Rainbow Foods, and features nearby retailers Target and Walgreens.
     
    Rainbow Foods is a division of Roundy’s Supermarkets Inc.
     

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