REAL ESTATE

Jones Lang LaSalle executive named receiver of Eastpoint Mall

BY Katherine Boccaccio

Baltimore — Atlanta-based Jones Lang LaSalle Retail announced that its president Greg Maloney has been appointed receiver of the Eastpoint Mall located in Baltimore County. Under Maloney’s leadership, Jones Lang LaSalle’s retail leasing and management team will assume immediate oversight of the mall and help stabilize the asset.

Eastpoint Mall is one of Baltimore’s first shopping centers, is fully enclosed and totals nearly 845,000 sq. ft. Tenants include Applebees, Bath & Body Works, The Children’s Store, Gamestop, Footlocker, RUE21 and many others. It is anchored by Burlington Coat Factory, DSW, Sears, Shoppers World and J.C. Penney.

As the receiver, Maloney is responsible for controlling and directing the asset until a resolution between the lender and borrower is achieved. Effective immediately, Jones Lang LaSalle will be responsible for the managing and leasing operations at the mall. The shopping center will remain open for business as usual.

While receivership designations vary state by state, they share the same premise of appointing independent managers to assume fiduciary responsibility. During the receivership process, the receiver chooses the most appropriate firm to manage and lease the asset, and provides recommendations for the most profitable outcome of the asset including its possible sale.

Jones Lang LaSalle and its executives are court-appointed receivers on multiple assets throughout the country.

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REAL ESTATE

Discover Mills to celebrate grand re-opening of Lego Store

BY Staff Writer

Lawrenceville, Ga. — The Lego Group announced the grand re-opening of its Lego store on March 16 at Discover Mills, Atlanta’s largest outlet, value retail and entertainment destination.

The Lego store will now be located near The Disney Store and Gymboree Outlets and features innovative displays, in-store family events and shopper-friendly play areas.

“Our newly redesigned store at Discover Mills will enhance our consumers’ overall Lego brand experience through product variety, store design and regular hands-on family events,” said Skip Kodak, VP Lego Group. “Children and families will be able to experience first-hands and hands-on creativity and imagination that goes into Lego building and be inspired by the over four million Lego bricks that are in the store at any given time.”

Lego joins Last Call by Neiman Marcus, Papaya, Guess Factory Store, Sears Fashion Outlet, Off Broadway Shoes, Zales The Diamond Store Outlet, Kenneth Cole Company Store and Nike Factory Store, among others, at the center.

Discover Mills is a Mills/Simon Company property.

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REAL ESTATE

DB Shoes, Bright Now! Dental to open at Alameda South Shore Center

BY Staff Writer

Alameda, Calif. — Jamestown announced that DB Shoes and Bright Now! Dental have signed new leases at Alameda South Shore Center, a 594,000-sq.-ft., open-air retail center located in the East Bay community of Alameda, Calif.

DB Shoes has leased a 10,635-sq.-ft. retail space along the Park Street corridor. The new location is scheduled to open in April 2012.

Additionally, Bright Now! Dental, part of Smile Brands Inc., secured a 10-year, 3,805-sq.-ft. lease. The office is scheduled to open in May 2012.

DB Shoes and Bright! Now Dental will join existing tenants Kohl’s, Safeway, Trader Joe’s, TJ Maxx, Starbucks, Ross, Old Navy, Payless Shoe Source, Petco, Bed Bath & Beyond, Sushi House, Applebee’s, Lens Crafters and The Children’s Place, among others.

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