REAL ESTATE

ICSC 2013 New York conference attendance spikes

BY Michael Fickes

New York — Nearly 7,600 attendees packed into the International Council of Shopping Centers New York National Conference and Deal Making, a 9.6% spike over last year and the largest year-on-year increase since 2009.

“The New York Conference acts as a strong bellwether for industry growth in the year to come,” said Michael P. Kercheval, president and CEO of ICSC. “When the conference sees an increase in attendance, the industry grows the following year; if attendance contracts, so too does the industry.”

David J. LaRue, president and CEO, Forrest City Enterprises and Chairman of ICSC echoed that positive outlook noting that “consumer confidence, spending and unemployment figures are all moving in a positive direction, despite some political uncertainty in Washington.”

Starting in 2014, the New York national Conference and Deal Making show will move to the Jacob K. Javits Convention Center on the west side of Manhattan. The consistent show growth of the past several years highlights the necessity for this move. At the Javits Center, the deal making will now be on one contiguous show floor, and will be under the same roof as the general sessions, meeting rooms and registration.

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REAL ESTATE

Phase I of Watertown, Mass., Arsenal Project is complete

BY Michael Fickes

Boston — Boylston Properties and The Wilder Companies have completed phase one of the redevelopment of the Arsenal Mall in Watertown, Mass.The companies marked the occasion by announcing a new name for the mall: The Arsenal Project.

Completed enhancements to The Arsenal Project include a reconfigured interior layout with new seating, upgrades to the building’s exterior and landscaping. Oversized metal tree-planters now line Arsenal Street, the center’s entrance and other areas throughout the development.

Functional and aesthetic changes include modern signage, sidewalk repairs, brighter outdoor lighting designed to accentuate the unique structural and architectural features of the historic building.

Inside, a contemporary ceiling sculpture and banner program will be installed before the end of the year.

The Arsenal Project is home to a variety of national retailers, including Sports Authority, Old Navy, Marshalls, Gap Outlet, Forever 21, Chipotle, Bath & Body Works, Ann Taylor Factory Store, and Victoria’s Secret.

The Wilder Companies manages the day-to-day operations of the shopping center.

Boylston Properties and The Wilder Companies along with individual investor Jonathan Bush collectively and separately own approximately 500,000 sq. ft. of Arsenal Street buildings. They include Arsenal Mall, Harvard Vanguard Medical Associates, Golfsmith, One Arsenal, and Charles River Saab.

The developers are working with town officials to design a redevelopment strategy that will bring an economic boost to this underutilized area as outlined in Watertown’s comprehensive plan for growth.

“Our ultimate goal is to help the town realize its vision for transforming the Arsenal district at the east end of Watertown into a vibrant residential and commercial destination where residents and visitors will enjoy local shops, restaurants, cultural venues, and easy access to the Charles River Reservation,” said William McQuillan, Boylston Properties’ president.

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REAL ESTATE

Glimcher elects two new board members

BY Michael Fickes

Columbus, Ohio — Glimcher Realty Trust has announced that its Board of Trustees has elected Yvette McGee Brown, Esq. and Nancy J. Kramer to serve as trustees on the Board, effective Dec. 12. McGee Brown and Kramer are eligible to be nominated for re-election to the Board at the company’s 2014 Annual Meeting of Shareholders.

McGee Brown is a partner with the international law firm of Jones Day in its Columbus, Ohio, office and specializes in business and tort litigation. McGee Brown joins the Board after a distinguished career in judicial and public service. She was the first African-American female justice on the Ohio Supreme Court, the founding president of the Center for Child and Family Advocacy at Nationwide Children’s Hospital, and a judge on the Franklin County Court of Common Pleas. McGee Brown is an active community leader and has been recognized as an inductee into the Ohio Women’s Hall of Fame, a YWCA Women of Achievement, and a recipient of The Ohio State University Distinguished Service Award.

Kramer is the founder and chairman of Resource, a nationally recognized leader in digital marketing. Kramer brings to the Board her extensive experience working with notable retail clients, such as Apple, Nestlé, Proctor and Gamble, Sherwin-Williams, and Victoria’s Secret. Kramer is also a well-respected author and has been honored as one of the 100 Most Influential Women in Advertising by Advertising Age. Resource is based in Columbus, Ohio, with offices in Chicago, San Francisco, and Cincinnati. Kramer is a member of The Wexner Center Foundation Board of Trustees, The Columbus Partnership, the Advancement Committee of the Board of Trustees of The Ohio State University, and chairperson of The Wellington School Board of Trustees.

Additionally, in conjunction with the elections of McGee Brown and Kramer, three incumbent Board members, Richard F. Celeste, Wayne S. Doran, and Alan R. Weiler, formally informed the company that they will not stand for re-election at the annual meeting.

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