Lakeshore Mall to undergo renovation
Addison, Texas — Coyote Management, L.P. and Garrison Investment Group announced that Lakeshore Mall, in Gainesville, Ga., is undergoing a renovation that includes extensive landscaping upgrades, new branding campaign, banners, directional signage, reopened customer service, gift card program and children’s strollers.
This week, said the companies, the property will begin construction on a new 11’ x 26’ monument sign and over $25,000 in landscaping. The project is scheduled to be complete by the end of July.
Lakeshore Mall will also begin construction this fall on new exterior wayfinding signage, including new pylon signs, double-sided monument signs and directional signs. The new signage located throughout the property will replace existing dated signs and will also include adding new signs where the mall currently does not have them. The total signage and landscape project will be an investment of over $150,000 for the owners.
“Adding these key amenities and upgrades is crucial to building awareness and driving traffic to the shopping center,” said Kymberley Scalia, corporate director of marketing for Coyote Management, L.P.
Or maybe just $64
Shares of Target may hit $100 six or seven years from now, but looking ahead to next year Morgan Stanley analyst Mark Wiltamuth believes the stock should be trading at $64. He recently initiated coverage of the company with a “buy” rating and, like some other analysts, believes investors may be seeing a once-in-a-generation opportunity to purchase shares at valuation levels depressed by uncertainty around the company’s entry into Canada.
According to Wiltamuth, shares of Target recently traded at a 15-year-low on a price to earnings basis and the negative sentiment is almost entirely due to uncertainty around the magnitude of start-up costs related to the company’s 2013 entry into Canada.
“Looking ahead a year, we believe investors will have full visibility of 2012 start up costs and the market will be valuing Target on 2013 estimates and what we estimate will be a 16% to 20% longer term earnings per share growth rate,” Wiltamuth wrote in his coverage initiation report. He arrives at a $64 price target by applying a conservative forward looking price to earnings ratio of 12.5 to his projection that 2013 earnings will hit $5.15.
GNC to open at at Twin Oaks Shopping Center
Aguora Hills, Calif. –Jacksonville, Fla.-based Regency Centers said it has leased space in Aguora Hills, Calif. to GNC, which will open a new store at Twin Oaks Shopping Center.
GNC has leased 1,050 sq. ft., bringing the center to 97% leased. The tenant is slated to open for business in fall 2011.
Aguora Hills, a 98,399-sq.-ft. shopping center, is anchored by Ralphs, alongside RadioShack, Rite Aid, Wells Fargo Bank and Starbucks.