REAL ESTATE

DLC names acquisitions chief

BY Katherine Boccaccio

Tarrytown, N.Y. — DLC Management Corp. announced that it has named Jonathan Wigser as chief investment officer, charged with leading all of the company’s acquisition and disposition activities.

Since joining DLC in 2002, Wigser has been involved in the acquisition and disposition of more than $1.1 billion of retail real estate, in addition to raising more than $250 million of equity from institutional and high net worth investors.

Prior to joining DLC, he was involved in more than $20 billion of leveraged finance, acquisition, real estate, and private equity and debt transactions during a 10-year career in investment banking. Wigser will continue to be in charge of identifying and accessing equity capital sources for DLC, as well as investor communications and reporting.

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REAL ESTATE

Michaels to open at Fairlane Village Mall

BY Katherine Boccaccio

Pottsville, Pa. — North Plainfield, N.J.-based Levin Management Corp. announced that Michaels Stores has leased 22,000 sq. ft. at Fairlane Village Mall in Pottsville, Pa.

Levin is the leasing and management agent for the property, which is owned by Ashok Mehra. Michaels’ commitment comes on the heels of a lease by Kohl’s Department Stores, reflecting momentum for the 405,000-sq.-ft. property.

Kohl’s will be opening its new 57,860-sq.-ft. store in early March.

Other anchors include Boscov’s, Super Shoes, CVS, Harbor Freight Tools, and Dollar Tree. Lowe’s Home Improvements is a shadow anchor.

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REAL ESTATE

Charleston Town Center announces four new upscale retailers

BY Katherine Boccaccio

Charleston, W.Va. — Cleveland-based Forest City Enterprises announced that four new upscale women’s retailers have joined the company’s Charleston Town Center property, located in Charleston, W.Va.

White House | Black Market, Coach, Sephora and Francesca’s Collections will open spring 2012. The center will undergo an expansive renovation, incorporating aesthetic updates to both the interior and exterior of the property.

This will be the first retail location in West Virginia for Coach and Francesca’s, and the second West Virginia location for White House | Black Market. The Charleston shopping center will also be the first state location for a full service in-line Sephora store. Last year Sephora opened a location inside J.C. Penney. These four new retailers will occupy about 12,000 sq. ft. of retail space on Level One, behind Starbucks.

Charleston Town Center will undergo a major renovation, including new amenities and aesthetic changes such as new flooring, lighting, family restrooms and revitalized common areas. The renovation is to be completed prior to the center’s 30th anniversary in 2013.

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