Jared leases three stores in Texas
Dallas — Jared, The Galleria of Jewelry, has signed leases for new locations in Lubbock, Corpus Christi and Midland, Texas, according to Venture Commercial Real Estate, which represented Jared in the transactions. All locations are under construction and expected to open soon.
The 4,500-sq.-ft. store in Lubbock will open in the Canyon West Shopping Center. The 6,057-sq.-ft Corpus Christi store is located in the Shops at La Palmera. In Midland, Jared will open a 4,500-sq.-ft. store in the Mall at Midland Park.
Back in May, Venture also assisted Jared with a lease in El Paso, at The Fountains at Farah, a 600,000-sq.-ft. power lifestyle center expected to open this fall.
PREIT completes sale of Chambersburg Mall
Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sale of Chambersburg Mall in Chambersburg, Pa., for $8.8 million.The sale marks another step in PREIT’s continuing effort to improve the quality of its portfolio through the sale of non-core assets. Net proceeds from the transaction totaled approximately $8.4 million.
J.C. Penney, Sears, Bon Ton and Burlington Coat Factory anchor the 455,000-sq.-ft. mall. Sales perk sq. ft. of $235 and non-anchor occupancy of 76.2% measured well below the PREIT mall portfolio average of $381 per sq. ft. in sales and a 90.3% occupancy rate.
TCN Worldwide names east regional VP
Dallas — TCN Worldwide, a consortium of independent commercial real estate firms, has announced the appointment of Luciano D’lorio of Terramont Real Estate Services/TCN Worldwide to regional VP for the eastern region. In this capacity, D’lorio will serve as an advisor to the member firms located within this region and act as a liaison with TCN Worldwide www.tcnworldwide.com corporate headquarters.
D’lorio specializes in office leasing in the Greater Montreal area for medium to large corporations looking to renegotiate leases, acquire new premises or dispose of their existing locations. In addition to transactional/consulting work, as president of Terramont Real Estate Services/TCN Worldwide, Luciano currently oversees all day-to-day operations of Terramont.