JLL brokers sale of Shiloh Square in Atlanta
Atlanta — Jones Lang LaSalle has closed the sale of Shiloh Square Shopping Center on behalf of Torchlight Loan Services. Phillips Edison-ARC Shopping Center REIT Inc. purchased the 139,720 sq. ft. Kroger-anchored center.
“Shiloh Square is strongly positioned in one of Atlanta’s largest suburbs of Kennesaw, serving more than 70,000 residents within a three mile radius,” said Margaret Caldwell, managing director with JLL.
OliverMcMillan secures Buckhead Atlanta construction loan
Atlanta — Developer OliverMcMillan has secured a $167 million syndicated construction loan, led by PNC Capital Markets, LLC, to finance construction of Buckhead Atlanta, the mixed-use retail, residential and office development located in Atlanta’s Buckhead neighborhood.
The loan will cover the full construction of the six-block, 8-acre complex. Five lenders are involved, including PNC Bank, N.A., CIT Finance LLC, Compass Bank, Regions Bank and SunTrust Banks.
Construction began in August 2012, and shops will begin to open in mid-2014. The completed project will include 300,000 sq. ft. of retail stores, restaurants and cafes, more than 100,000 sq. ft. of office space and 370 high-rise residences.
OliverMcMillan worked exclusively with HFF, a real estate capital intermediary, to secure the financing.
Ooh La La Boutiques goes social with Villij to attract customers
Long Beach, N.Y. – For five-store women’s specialty retailer Ooh La La Boutiques, maintaining strong customer awareness is critical for successfully competing with larger, more established brands in its crowded vertical. Add in the impact of Hurricane Sandy and its aftermath on this chain which is located in and around Long Island, and you have a business in need of personal connection with its customers.
Looking to pull more people to its e-commerce site, Ooh La La launched a page on the Villij social network last month. According to Ally Gugliotta, social media analyst for Ooh La La, since going on Villij the retailer has pulled more traffic to its e-commerce site and developed personal relationships with shoppers.
“Customers ask us questions,” said Gugliotta during a phone interview. “They may have an event and ask us what they should wear, and we’ll send them links to items on our site. It’s more interactive than other social networks and other customers can make recommendations, as well.”
Since launching its Villij page, Ooh La La has seen a roughly 15% boost in site traffic. In addition, with two stores in the coastal New York communities Of Ocean Beach and Long Beach that are still reeling from the devastating effects of Hurricane Sandy last fall, Villij has played a crucial role in maintaining and increasing visibility.
“It’s hard to get customers in those communities back,” said Gugliotta. “The towns are still being rebuilt, and people’s top priority is not shopping. With Villij we can reach a bigger audience beyond our normal customers.”
Gugliotta said Villij even helps Ooh La La, which fills national orders from its e-commerce site, develop new customers around the country. Ooh La La hopes to continue growing its presence on Villij and is promoting its Villij page both through messages to customers on its email list and advertising at the point-of-sale.