REAL ESTATE

Francesca’s opens at Exton Square Mall, Teavana on deck

BY Katherine Boccaccio

Exton, Pa. — Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Tuesday that Francesca’s Collections has opened at its Exton Square Mall property, in Exton, Pa.

The arrival of the 1,300-sq.-ft. Francesca’s store will soon be joined by Teavana, which is set to open a 1,000-sq.-ft. store this summer.

“Francesca’s Collections and Teavana will add to the already attractive mix of retailers at Exton Square Mall, building on last year’s openings of White House Black Market and Chico’s,” said Mary Kay Owen, mall marketing director.

Exton Square Mall is anchored by Boscov’s, J.C. Penney, Macy’s and Sears.

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REAL ESTATE

Laura Pomerantz Real Estate makes Manhattan debut

BY Katherine Boccaccio

New York — Real estate industry veteran Laura Pomerantz said Monday she has launched a new firm, Laura Pomerantz Real Estate, focused on retail and office real estate transactions.

“As the retail landscape continues to evolve and companies re-evaluate their real estate portfolios, we look forward to working closely with our clients to develop both domestic and global real estate strategies that best facilitate growth and defines their brands,” said Pomerantz, founder and president, New York City-based Laura Pomerantz Real Estate.

Current clients include Abercrombie & Fitch, Levi’s, Joe Fresh, Ippolita, Ted Baker London, Gant, Vince Camuto, Hotel Chocolat, Jack Rogers and Scoop.

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REAL ESTATE

Abercrombie & Fitch reveals international expansion plans

BY Katherine Boccaccio

New York — In its annual report filed Tuesday, Abercrombie & Fitch revealed that it plans to open Abercrombie & Fitch flagship stores in Seoul and Shanghai in 2013, as well as 20 international Hollister stores. The news sent the teen retailer’s shares rising on Wednesday.

The company also said in the report that it is maintaining its focus on boosting profitability by simplifying processes, eliminating less-profitable parts of its business, shoring up efficiencies and cutting expenses.

The Hollister openings will include debuts in Australia, in Dubai (through a joint venture) and Japan. The company said it is considering opening international mall-based Abercrombie & Fitch stores within the next 12 months.

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