REAL ESTATE

Chain Store Age launches real estate community site

BY CSA STAFF

New York City — Building upon the momentum in retail real estate in the recovering economy, Chain Store Age has debuted a new community-oriented “micro-site” for retail real estate executives and shopping center developers. Called “Community” and accessible from chainstoreage.com, the new site offers such features as project of the week, mall marketing spotlight, and bylined articles from industry experts.

The website will be updated frequently, and the industry is encouraged to participate by submitting projects and articles for inclusion. The site is edited by Chain Store Age real estate editor Katherine Field, who can be reached at [email protected].

Click here to preview the new Community site.

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REAL ESTATE

Regal to open 14-screen theater at West Oaks Mall

BY CSA STAFF

Houston — Square Mile Capital Management and Pacific Retail Capital Partners, owners of West Oaks Mall in Houston, announced an agreement with Regal Entertainment Group to bring its Edwards Theatres to the center with a 14-screen multiplex.

The Edwards Theatre will be the entertainment anchor for the redevelopment of the mall.

“Bringing a premier Edwards Theatre to West Oaks Mall is a key component in our program to enhance the center by providing entertainment and dining options for the mall,” said Steve Plenge, managing principal of Pacific Retail Capital Partners, the ownership’s operating partner.

Construction of the new Edwards Theatre at West Oaks will begin this spring with a projected opening in fall 2012.

“Edwards West Oaks Stadium 14 will feature all the latest technology and amenities. Our new theatre will complement the expanded dining options coming to West Oaks Mall,” said Dick Westerling, senior VP marketing and advertising for Regal Entertainment Group.

Since acquiring the center in December 2009, the mall ownership has introduced a new property management and leasing team to the center, PRCP Management and Collarmele Partners. This team has overseen a program of improvements to the center largely to address deferred maintenance, created a master plan to reposition the center and developed a targeted leasing plan.

The new Edwards Theatres will reposition the mall’s west wing, creating the setting for a new interactive pedestrian plaza surrounded by three new restaurants with outdoor café seating. Alamo Drafthouse Cinema will continue to operate undisturbed through the construction, offering its unique combination of first-run films, dining and special events.

West Oaks Mall is a 1-million-sq.-ft. enclosed regional mall, anchored by Dillards, Macys and Sears.

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REAL ESTATE

New shopping options to open at Westfield Old Orchard

BY CSA STAFF

Skokie, Ill. — Westfield Old Orchard, an outdoor destination located in Skokie (Chicago), Ill., announced that The Body Shop will rejoin the center in spring 2011 with a 765-sq.-ft. store near Lord & Taylor. Galt Toys will open a 3,400-sq.-ft. store, also slated for a spring 2011 opening, as is Vera Bradley — with a 1,650-sq.-ft. boutique.

The shopping center also announced a series of remodels and relocations, including Aveda which has relocated to a new 680-sq.-ft. store near Zara. Chico’s is relocating to a larger, 3,400-sq.-ft. space next to Lord & Taylor (a former Steve Madden space) and is slated to open this spring.

J. Jill is currently closed for renovation while it undergoes a complete remodel, slated to debut early this spring. Mario Tricoci salon and spa is in the process of an interior remodel; T-Mobile has relocated to a new 1,500-sq.-ft. space next to LensCrafters and Macy’s.

Westtfield Old Orchard is anchored by Bloomingdale’s, Nordstrom, Lord & Taylor and Macy’s, along with 130 specialty shops, restaurants and cinemas.

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