REAL ESTATE

Kohl’s opens West Manchester Mall store

BY CSA STAFF

York, Pa. The Lightstone Malls announced Friday that a new 87,000-sq.-ft. Kohl’s department store has opened at West Manchester Mall in York, Pa.

West Manchester Mall features a national tenant line-up including Wal-Mart Supercenter, which opened in July 2004 and recently completed a $5 million renovation; Regal 13 Cinemas, which is currently in the process of converting to all digital screen; and Macy’s, the only full-line fashion store in the market.

“The grand opening of Kohl’s at West Manchester Mall demonstrates a major building block towards the revitalization of the mall,” said David Lichtenstein, chairman and CEO of the Lightstone Group, which owns and operates Lightstone Malls.

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REAL ESTATE

CBL partners with Horizon Group Properties to develop Outlet Shoppes at Oklahoma City

BY CSA STAFF

Oklahoma City Chattanooga, Tenn.-based CBL & Associates Properties said it has formed a joint venture with Norton Shores, Mich.-based Horizon Group Properties to develop The Outlet Shoppes at Oklahoma City in Oklahoma City.

Once complete, the 350,000-sq.-ft. project will be the only outlet center in the state of Oklahoma and the only outlet center within a 145-mile radius.

The Outlet Shoppes at Oklahoma City is currently under construction with the grand opening scheduled for late summer 2011. CBL and Horizon are co-developing the project with Horizon responsible for leasing and management.

The project is currently over 80% leased with offerings including Saks Fifth Avenue Off 5th, Nike, Tommy Hilfiger, Banana Republic, J. Crew, Brooks Brothers, Coach, Guess and more.

CBL has received a $48.9 million construction loan commitment from U.S. Bank for the project. The loan will have an initial term of three years, with two, one-year extension options.

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PREIT, American Express team to launch gift-card program at malls

BY CSA STAFF

Philadelphia Mall owner Pennsylvania Real Estate Investment Trust (PREIT) said Thursday that it has introduced a new American Express mall gift card that will be redeemable nationwide.

“The new PREIT Mall American Express Gift Card is redeemable in all of our malls, as well as most retail and restaurant locations nationwide, which offers greater flexibility for our shoppers and corporate clients’ gift-giving needs,” said Judy Trias, PREIT VP retail marketing.

PREIT Mall American Express Gift Cards will be available for purchase at 39 PREIT owned and managed malls.

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