REAL ESTATE

Colorado Mills and Denver West Village debut a new Dine and Discover program

BY Katherine Boccaccio

Lakewood, Colorado – Colorado Mills, the largest outlet and value retail shopping destination in the state, in conjunction with the full-priced Denver West Village located on the Colorado Mills campus, is introducing a Dine and Discover program, allowing restaurant goers to Colorado Mills or Denver West Village participating eateries to claim gift cards for continued shopping at some of Colorado Mills’ retail store.

Guests who dine at Blue Sky Cafe, Summit House or Yard House will receive a certificate that may be redeemed at the Colorado Mills Mall Management office for a $25 gift card from a selection of retailers, including Banana Republic Factory Store, Neiman Marcus Last Call, Nike Factory Store, Saks Fifth Avenue OFF 5TH and Tommy Hilfiger Company Store.

Colorado Mills and Denver West Village are located 10 minutes from downtown Denver on W. Colfax Avenue in Lakewood.

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REAL ESTATE

DICK’s and ULTA to join Janesville Mall as part of anchor redevelopment

BY Katherine Boccaccio

Janesville, Wisconsin – CBL & Associates Properties announced that DICK'S Sporting Goods and ULTA Beauty are coming to Janesville Mall in Janesville, Wisconsin. The two new stores will be situated in the former JC Penney location. Construction is expected to begin in January with the grand opening for both stores scheduled for fall 2015.

"Redeveloping anchor locations is a great opportunity to both create value in our centers and to satisfy the strong retail demand for CBL properties," said Stephen Lebovitz, president and CEO, CBL & Associates Properties.

In addition, CBL also announced Janesville Mall will undergo a multi-million dollar renovation in 2015. The renovation will include enhancements to the mall's interior, such as new soft seating areas, food court amenities, new flooring, ceiling and lighting upgrades. The renovation is scheduled to begin in March, with completion anticipated in July.

Janesville Mall is a 600,000-sq.-ft. mall featuring more than 60 specialty stores and is anchored by Boston Store, Kohl's and Sears.

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REAL ESTATE

SRS to drive nationwide store expansion for Walgreen Co.

BY Katherine Boccaccio

Dallas – SRS Real Estate Partners has executed an exclusive agreement with Walgreen Co. to assist the retailer’s nationwide new store expansion and relocation strategy. SRS has been a long-time strategic consultant to Walgreens; leading the team for SRS are executive vice presidents Patrick A. Smith and Matthew D. Alexander, who will work closely with Walgreens to enhance the company’s existing store base while evolving its real estate management structure.

While the assignment officially begins in early December, Alexander and Smith have begun enlisting best-in-class brokers in each region as part of a national broker network to drive the Walgreens initiatives.

“Our former Real Estate Managers can be proud of the work they did over many years to provide Walgreens with the best retail footprint in the industry. With our goal of saving $1 billion over the next three years, we are looking forward to leveraging the SRS team to deliver the next generation of quality stores to our customers,” said Tom Connolly, VP of facilities development for Walgreen Co.

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