REAL ESTATE

JLL opens Honolulu office

BY Michael Fickes

New York — Jones Lang LaSalle has opened an office in Honolulu’s retail district.

“Robust real estate fundamentals across all asset classes makes Hawaii a top locale for investors, developers and retailers,” said Kirk Horiuchi, senior VP and Hawaii retail market lead.

Hawaii’s unemployment rate has dropped to 5% and is projected to fall further by year-end and boost consumer spending and the retail economy.

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REAL ESTATE

Simon opens St. Louis Premium Outlets

BY Michael Fickes

Chesterfield, Mo. — Simon Property Group has announced the opening of Phase I of St. Louis Premium Outlets in Chesterfield, Mo., a suburb of St. Louis.

The 350,000-sq.-ft. Phase I features 90 outlets and is 100% leased. Designer and name branded outlet shops include Armani, Kate Spade New York, Michael Kors, Nike, Saks Fifth Avenue Off 5th and Under Armour.

The center is a joint venture between Simon Property Group and Woodmont Outlets, an affiliate of The Woodmont Company, a retail shopping center developer and operator.

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REAL ESTATE

Times Square Mall welcomes Hobby Lobby

BY Michael Fickes

Mount Vernon, Ill. — Hobby Lobby has signed a lease for 52,729 sq. ft. at Times Square Mall in Mount Vernon, Ill., and plans to open in the first quarter of next year, according to Pine Tree Commercial Realty LLC.

Pine Tree owns the 269,328-sq.-ft. center, anchored in partnership with The Sansone Group and Wanxiang America Real Estate Group.

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