REAL ESTATE

Developers Diversified announces six new locations for Five Below

BY CSA STAFF

New York City — Developers Diversified Corp. announced the introduction of six new locations for teen fave Five Below in 2010. The stores were opened in Ohio; New Jersey; North Carolina; and New York.

Five Below currently operates over 100 discount stores across the country and intends to double its store count by the end of 2011 through a massive expansion spree.

The stores offer items for teens and pre-teens at an affordable price range of $1 to $5. The product portfolio includes an assortment of trendy merchandise such as fashion accessories, bath and body, room decor and storage, candy and beverages, stationery and school supplies, books, DVDs, iPhone accessories, sports, games and seasonal items.

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REAL ESTATE

Nordstrom Rack to open in Tigard, Ore.

BY CSA STAFF

Seattle — Nordstrom plans to open a new Rack discount store next fall in the Portland suburb of Tigard, Ore.

The retailer said the new 45,000-sq.-ft. t store will open in Cascade Plaza in Tigard, about a mile away from a full-line Nordstrom store in the Washington Square shopping center.

Cascade Plaza is a mixed-use center that includes 130,000 sq.-ft. of retail space and 200,000 sq.-ft. of office space. The center’s retail mix also includes David’s Bridal, Burlington Coat Factory, Ross and Best Buy. Cascade Plaza is owned and operated by Harsch Investment Properties.

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REAL ESTATE

General Growth implements EcoStance to kiosks, Santa sets

BY CSA STAFF

Chicago — General Growth Properties announced Wednesday it is implementing its EcoStance of environmental responsibility to the malls’ kiosks, located throughout all the shopping centers’ common areas.

Over the last few months, GGP converted over 50,000 incandescent lights to energy-efficient LED lights in over 135 malls. The new LED lamps produce brighter light levels, last longer, lower carbon emissions, and reduce energy consumption by at least 85%, according to the mall owner.

“Just in the last five years alone, GGP’s cumulative energy savings exceeded 328.7 million kilowatt hours and we continually look at ways to improve that — from our state-of-the-art HVAC systems, kiosk lighting and even more recently our holiday décor packages,” said Julie Jones, senior VP national operations.

The replacement of 50,000 kiosk lights at more than 135 centers took General Growth Properties approximately three months to complete and the cumulative energy savings is approximately 6.9 million kilowatt hours.

“The transition to LED lights was an excellent improvement for our kiosks and motivated us to take it a step further and start upgrading our holiday décor lights,” said Doug Johnson, director of santastic. “Since the LEDs are brighter and last longer, we installed 52,000 holiday LED lights across 70 malls making Santa’s home, wreaths, and garlands even brighter for this festive season.”

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