REAL ESTATE

H&M to Denver’s Orchard Town Center

BY Michael Fickes

Denver — H&M has signed a lease for 20,000 sq. ft. at The Orchard Town Center, a 914,000-sq.-ft. open air regional retail center in Westminster, Colo., according to Vestar, the property’s owner. H&M plans to open the new store in the fall.

The addition of H&M comes less than two months after Vestar acquired the property for $123.5 million in an all cash transaction. Vestar plans to redevelop the project, rebranding the center with new amenities while brining in new retailers.

The firm also plans to enhance the shopping experience through marketing programs and community events.

Macy’s, J.C. Penney, SuperTarget, AMC Theatres, REI and Lifetime Fitness anchor the center. Other nationally recognized tenants include Forever 21, Chico’s, Victoria’s Secret, Eddie Bauer, Old Navy, Ulta Beauty and Ross Dress for Less.

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REAL ESTATE

Four new retailers sign into Brea Mall in Brea, Calif.

BY Michael Fickes

Indianapolis — Four new retailers have leased space at Brea Mall in Brea, California, according to Simon Property Group, the mall’s owner. Starbucks Coffee Company, Kiehl’s Since 1851, Kelley’s Kookies and Shoe Palace plan to open their doors this spring and summer.

Starbucks will debut this spring as a standalone kiosk with tables and chairs for café-style seating.

Kelley’s Kookies will open an 851-sq.-ft. space this spring. The Brea store will be the cookie maker’s third location. The others are in Stanton and Arcadia.

Kiehl’s Since 1851 has taken a 1,019-sq.-ft. space and expects to open in May.

Coming this summer, Shoe Palace will make its debut at the mall in a 3,821-sq.-ft. space.

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REAL ESTATE

Vornado to sell Broadway Mall in Hicksville, N.Y.

BY Michael Fickes

Paramus, N.J. — Vornado Realty Trust has announced an agreement to sell the 1.1 million-sq.-ft. Broadway Mall in Hicksville, Long Island, N.Y., for $94 million to an unknown buyer. The company purchased the mall in 2005 for $152.5 million.

In April 2012, the company announced its intention to reduce exposure to the enclosed mall business and to sell some of its other categories of retail shopping centers. This sale, Vornado’s last shopping center on Long Island, represents a continuation of that policy.

According to a company statement, the sale will result in net proceeds of approximately$92 million after closing costs. In addition, Vornado’s fourth quarter 2013 financial results will include a non-cash impairment loss of $13.4 million related to Broadway Mall.

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