REAL ESTATE

DSW to open at Capital City Mall

BY Staff Writer

Harrisburg, Pa. — Philadelphia-based Pennsylvania Real Estate Investment Trust said that DSW will open a 17,400-sq.-ft. store at Capital City Mall in Camp Hill, Pa.

To accommodate the footwear and accessories retailer, PREIT said that 5,000 sq. ft. of retail space is being added to the mall. A 2013 opening for DSW is anticipated.

Capital City Mall is anchored by Macy’s, J.C. Penney, Sears and Old Navy, plus features nearly 100 national and regional retailers including Aéropostale, American Eagle Outfitters, The Children’s Place, Crazy 8, Express, Hollister Co., The Limited, Men’s Wearhouse, New York & Co. and Wet Seal.

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REAL ESTATE

CBL acquires Dakota Square Mall

BY Staff Writer

Minot, N.D. — Chattanooga, Tenn.-based CBL & Associates Properties announced it has acquired Dakota Square Mall in Minot, N.D.

CBL acquired the property from the Lightstone Group.

“Dakota Square Mall offers significant immediate and long-term upside potential with below-average occupancy costs as well as opportunities for conversions of temporary tenants to permanent leases,” said Stephen Lebovitz, president and CEO of CBL & Associates Properties. “We anticipate adding value through these opportunities, as well as capitalizing on the substantial growth the market is experiencing.”

Dakota Square Mall was acquired for a total consideration of $91.475 million. It is a 622,000-sq.-ft., single-level, enclosed super-regional mall anchored by a nine-screen Carmike Cinema, Herberger’s, J.C. Penney, Sears, Target, Barnes & Noble and Scheels All Sports.

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REAL ESTATE

Potomac Mills to expand footprint

BY Staff Writer

Woodbridge, Va. — Indianapolis-based The Mills, a Simon Property Group company, said that Potomac Mills, the largest outlet and value retail shopping destination in Virginia, will soon expand its footprint with the addition of an exterior transformation and two new restaurants: The Cheesecake Factory and Bobby’s Burger Palace.

The project also includes the relocation of Saks Fifth Avenue Off 5th and the introduction of Buybuy Baby and Christmas Tree Shops.

The new freestanding restaurants, as well as a third dining option to be announced soon, will be located in a new plaza on the south side of the property adjacent to Potomac Mills’ main entrance between AMC Potomac Mills 18 Theatres & IMAX and Costco. A courtyard will link the restaurants and provide access to Potomac Mills’ retail offerings.

The exterior renovation to the south side of the property is slated for November 2012 completion. New design, landscaping, lighting features and updated signage will be included in the refresh. Construction is slated to begin in late May or early June.

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