Casual Male DestinationXL format to make Middle East debut
Canton, Mass. — Casual Male Retail Group announced that its first DestinationXL store in the Middle East will open this spring in Symphony Mall, Kuwait City, Kuwait, under a franchise agreement between one of its subsidiaries and The Standard Arabian Business & Enterprises Company (SABECO).
The franchise agreement governs the operation of the store and provides that within two years of the store’s opening to the public, the Casual Male Retail Group subsidiary has an option to purchase an equity interest in the store. The store is expected to open in April.
David Levin, president and CEO, stated, "We are looking forward to the store’s opening and we are excited about the prospects for the region. We believe that SABECO has the expertise to create a successful franchise and operate an outstanding DestinationXL store in the Middle East."
Regency Centers to launch construction of East Washington Place
Petaluma, Calif. — Jacksonville, Fla.-based Regency Centers said it will begin construction of East Washington Place, a 378,000-sq.-ft. community center anchored by Target.
Located in Petaluma, Calif., the new development is strategically located at the intersection of two main arterial roads, East Washington Street and Highway 101, with daily traffic counts in excess of 92,000. Regency Centers will invest approximately $61 million into the project, which will create approximately 380 construction jobs and 720 permanent jobs.
The center will include a 138,324-sq.-ft. Target along with 121,000 sq. ft. of anchor space and 118,676 sq. ft. for junior anchors, small shops and office space. It is slated to open in summer 2013.
Casto names property manager
Columbus, Ohio — Casto announced that Bruce Engelhardt has joined the firm’s property management team where his primary focus will be on a retail portfolio totaling 1.8 million sq. ft. of shop space.
Most recently, Engelhardt was the group manager of the Open-Air Division at Jones Lang LaSalle.