REAL ESTATE

Hulen Mall launches multi-million-dollar renovation project

BY CSA STAFF

Fort Worth, Texas –Chicago-based General Growth Properties announced that Hulen Mall, in Fort Worth, Texas, will undergo a major interior facelift and renovation beginning Monday, May 23.

The transformation will include numerous shopper amenities and aesthetic upgrades such as new energy-saving lighting; all new flooring throughout the center; a new family restroom area; a play area, extensive painting and more. The entire project is expected to be completed within the next six months. Much of the work will take place after mall hours to ensure an optimum shopping experience for customers and retailers.

The completion of the interior construction will coincide with the completion of the new 22,000-sq.-ft. outdoor restaurant plaza currently underway on the east side of Hulen Mall. Abuelo’s and BJ’s Restaurant & Brewhouse are targeting November opening dates.

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REAL ESTATE

Forest City names new regional president in Texas

BY CSA STAFF

Cleveland, Ohio –Forest City Enterprises, Inc., announced the creation of a new leadership position to support the company’s growing presence in the Texas real estate market.

Effective immediately, Brian Ratner has been promoted to president of Forest City Texas and will lead the company’s Texas operations from its regional office in Dallas.

“Texas is one of the strongest markets in the country and we believe it continues to offer us tremendous opportunities,” said Charles A. Ratner, Forest City president and CEO. “Over the past several years, we have made significant investments in the region, including our Mercantile Place on Main apartment community in downtown Dallas, as well as land projects in Dallas, Houston, San Antonio and El Paso. Brian’s appointment in Dallas reinforces our strong commitment to developing and operating a vibrant and diversified portfolio of real estate in this growing market.”

Brian Ratner was previously president of East Coast Development for Forest City’s Commercial Group.

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REAL ESTATE

Zumiez swings to profit, to open 44 stores

BY CSA STAFF

Everett, Wash. — Zumiez reported Thursday net income of $1.9 million in the first quarter, compared with a loss of $1.9 million in the year-ago period. The retailer said it plans to open 44 new stores in fiscal 2011, including its first stores in Canada.

The results for the first quarter of fiscal 2010 include costs of approximately $1.2 million associated with the relocation of the company’s distribution center from Everett, Wash., to Corona, Calif.

Revenue rose 18.8% to $105.9 million, from $89.1 million a year ago. Same-store sales increased 12.6%.

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