The Plaza at Fayette Mall in Lexington, Ky., celebrated its grand opening in November. The 190,000-sq.-ft. CBL & Associates Properties center is adjacent to CBL’s Fayette Mall and features 19 large-space and small-shop retailers and restaurants in a lifestyle-like format.… Colony Capital Acquisitions has completed the re-capitalization of the Meadowlands Xanadu project, lending the $1.5 billion additional financing needed to complete the 2.2 million-sq.-ft. New Jersey sports, leisure, shopping and entertainment destination development. Construction is under way and a target completion date of late 2008 has been set.
DLC Management Corp. has acquired nine shopping centers from Edens & Avant. The centers, totaling more than 1,135,000 sq. ft., are located in Georgia, Florida, Alabama and Tennessee. DLC has also acquired a 415,737-sq.-ft. community center, Akers Center, in Gastonia, N.C.… Woolbright Development added Southport Shopping Center in Fort Lauderdale, Fla., to its portfolio in a joint-venture partnership with Principal Real Estate Investors.
MANAGEMENT & LEASING
Jones Lang LaSalle has been retained by Symphony Property Group as leasing and managing agent for Biltmore Square in Asheville, N.C. Jones Lang LaSalle also has been retained by F+F Development to lease and manage Inlet Square in Myrtle Beach, S.C.… Cousins Properties has selected Prudential Real Estate Investors to manage, lease and market The Shoppes at Arbor Lakes in Maple Grove, Minn.
Ahold U.S. to Accept Bids on Foodservice Unit
Columbia, Md., Royal Ahold is expected to start accepting bids on its U.S. foodservice division, which has been plagued by financial woes in recent years, in early 2007. Among the companies expected to show an interest in the division are Kohlberg Kravis Roberts & Co. and Clayton, Dubilier & Rice.
Nine West Opens International Flagships
New York, Nine West Group, a division of Jones Apparel Group, opened flagship locations this December in Tokyo, Moscow and Vietnam as part of a global expansion initiative that began in early 2006. The new stores marked the debut of the company’s updated store format, which is designed to strengthen the brand’s fashion presence in footwear, accessories and handbags.