REAL ESTATE

Inland American Real Estate Trust is now InvenTrust Properties Corp.

BY Dan Berthiaume

Oak Brook, Ill. – Inland American Real Estate Trust Inc. has changed its name to InvenTrust Properties Corp., effective immediately. The company’s new website address is Inventrustproperties.com.

In addition to its new name, InvenTrust is adopting a new logo and branding messages that emphasize the company’s role as a leader in the open air shopping center space. The company says the logo, which consists of two interfacing half circles symbolize the energy, collaboration, forward motion and growth potential of InvenTrust, and its strong connections to its retailers.

InvenTrust also continues to develop and expand its student housing business, University House Communities, with tactical acquisitions and development of new properties at national universities. Based in Dallas and led by its president Travis Roberts, University House has 14 properties with 7,986 beds and five additional properties in developments.

“Following the successful completion of our self-management transactions and the spin-off of our lodging platform, we believe the time is right to highlight and develop a brand that is independent from our sponsor,” said Thomas P. McGuinness, president and CEO of InvenTrust. “Our new name is consistent with our multi-tenant retail strategy to bring innovation and invention to the way we operate our open air centers. We are distinguishing ourselves in the retail business by working in partnership and in collaboration with our retailers for shared success. With our leadership team’s extensive retail experience, we are building a strong foundation for our company and earning a reputation for reliability with our business partners.”

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REAL ESTATE

CBL Properties, Horizon Group expand Outlet Shoppes of Atlanta

BY Dan Berthiaume

Chattanooga, Tenn. – CBL & Associates Properties Inc. and Horizon Group Properties Inc. have begun construction on the second phase of The Outlet Shoppes at Atlanta. The 33,000-sq.-ft. expansion is scheduled to open before the 2015 holiday season and will bring several popular retailers to the center, including Gap Outlet and Banana Republic.

"The Outlet Shoppes at Atlanta is enjoying great success in the market as sales and traffic continue to grow," said Michael Lebovitz, executive VP – development and administration for CBL. "Through this expansion, we are adding exciting new retailers to what is already an excellent collection of stores."

The Outlet Shoppes at Atlanta is the closest outlet center to the Atlanta metro area. It features 93 famous name brand stores including Nike, Coach, Michael Kors, Saks Fifth Avenue Off 5th, Carter's, Kate Spade, Vineyard Vines, Johnny Rockets and many more. The outlet shopping center opened July 18, 2013.

"The expansion of The Outlet Shoppes at Atlanta, less than two years after its opening, speaks volumes about the strength of the market and success of the outlet concept in Atlanta," said Gary J. Skoien, CEO of Horizon Group Properties. "The center is easily accessible to travelers on Interstates 75, 85 and 20 and is drawing customers from a three-state area."

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REAL ESTATE

Simon’s Shisui Premium Outlets expands by 62 stores

BY Katherine Boccaccio

Indianapolis – In partnership with Mitsubishi Estate Co. Ltd., Simon has opened the expansion of the Shisui Premium Outlets located outside Tokyo. Shisui Premium Outlets initially opened in April 2013.

This first phase of the project opened 100% leased with 121 stores featuring a mix of international brands, Japanese brands and restaurants. The second phase, opening April 17, adds 62 new stores, including four restaurants, bringing the total store count to 183. The expansion adds 136,000-sq.-ft. of stores, bringing the total project to 375,000-sq.-ft.

Nine brands will open their first outlet stores in Japan including casual outdoors brand Chums; daily wear brand Traditional Weatherwear; and Sweden-based Nudie Jeans.

Other popular retailers opening April 17 include: American Eagle Outfitters, Guess, JillStuart, Lacoste, Levi's, Birkenstock, Cole Haan, Ecco, Nike, Oakley, The North Face, and Ralph Lauren Home.

"We are very pleased with the enormous success of Shisui Premium Outlets in an incredibly short period of time," said Mark Silvestri, COO of Simon Premium Outlets. "Shisui has been very well received by the tenants and consumers alike."

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