JLL to manage Heritage Mall
Albany, Ore. — Atlanta-based Jones Lang LaSalle said Tuesday it has been named as the property and leasing manager for Heritage Mall, a 407,354-sq.-ft. regional shopping center located in Albany, Ore.
Located at the heart of Albany’s retail district, Heritage Mall is the dominant regional center in its primary trade area. The shopping center houses more than 60 retailers and restaurants and is anchored by Target (whose regional distribution center is also in Albany), Sears, Ross Dress for Less and Old Navy. The property’s 2006 remerchandising operation modernized and expanded the space to attract apparel, home furnishing and food tenants, such as Carinos Italian Grill, rue21, Kay Jewelers, Maurices, GameStop and Sally Beauty Supply.
Multiple stores to open at Stirling Bossier
Bossier City, La. — Covington, La.-based Stirling Properties, developer and property manager of Stirling Bossier Shopping Center, in Bossier City, La., announced the addition of Old Navy, Ulta Beauty, Maurices, Mattress Firm, The Joint and GNC to the center’s tenant lineup.
The phased opening of these new locations over the next six months completes phase four of the center’s six planned phases. Old Navy is anticipated to open in early November within 15,000 sq. ft. of retail space. Ulta will celebrate its grand opening on Oct. 21 in its 10,000-sq.-ft. new store, Maurices is slated to open Oct. 22 in a 5,000-sq.-ft. space, Mattress Firm’s 5,000-sq.-ft. store is planned for a mid-to-late November opening, The Joint chiropractic center will open a 1,200-sq.-ft. center in early 2012, and GNC will also open early 2012 adjacent to The Joint in 1,200 sq. ft. of space.
To date, 28 retail, service and restaurant tenants are already in operation at Stirling Bossier which officially opened in July 2007 with Target as the anchor.
Edens & Avant announces refinancing of unsecured revolving credit facilities
Columbia, S.C. — Edens & Avant announced Tuesday that it has closed on the refinancing of its $350 million unsecured revolving credit facility and $30 million unsecured working capital line.
Both will mature in September 2014, but include two, one-year extensions that could extend both facilities through September 2016.
“Edens & Avant remains committed to preserving a conservative, flexible balance sheet that enables us to focus on operations and strategic, community focused investment opportunities,” said Mark Garside, managing director of Edens & Avant. “The closing of these facilities advances our balance sheet strategy while lowering our overall cost of capital.”