REAL ESTATE

Lakeshore Mall to undergo renovation

BY Katherine Boccaccio

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.

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REAL ESTATE

GNC to open at at Twin Oaks Shopping Center

BY Katherine Boccaccio

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.

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REAL ESTATE

Five Below opens five stores in Detroit market, sees potential for 25

BY Marianne Wilson

New York — Five Below on Friday made its Michigan debut, opening five stores in the Detroit metro area. The chain specializes in “extreme value” merchandise for teens and pre-teens, with no item priced more than $5.

“Detroit is a pivotal market for Five Below, as it helps bridge our presence in Cleveland and Chicago, the latter of which we just entered earlier this summer,” said Tom Vellios, co-founder and CEO of Five Below. “Beyond that, Detroit contains a huge population of value-conscious shoppers who are eager to experience our brand and trend-right product selection. “We can easily see ourselves developing this market to include as many as 25 stores over the next two to three years, and we are extremely excited to start now.”

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