REAL ESTATE

Mall of San Juan breaks ground; to house Caribbean’s first Saks and Nordstrom

BY Katherine Boccaccio

San Juan — Taubman Centers and New Century Development announced Friday the groundbreaking on the 650,000-sq.-ft. Mall of San Juan, the island’s first luxury retail development. The $405 million, two-level mall will feature the first Saks Fifth Avenue and Nordstrom in the Caribbean.

Of the approximately 100 stores and restaurants, it is expected that 60% will be new to the island.

New Century Development will also be constructing a 225-room hotel and casino adjoined to the mall. The entire project is expected to open in late 2014. Taubman will develop, lease and manage the shopping center.

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REAL ESTATE

Report: Wal-Mart looks to open first India store within 18 months

BY Katherine Boccaccio

New Delhi, India — A Friday report by the Wall Street Journal disclosed that Wal-Mart Stores Inc. expects to open its first retail stores in India within the next 12 to 18 months.

In an interview with WSJ, Scott Price, Asia president and CEO of Wal-Mart, said that the retailer has not pinpointed where the first stores will be located or ultimately how many there will be. But the latest decision handed down by the Indian government allowing megastore retailers to enter the country via joint ventures paved the way for the impending openings.

Price told WSJ that the company expects to continue its current partnership with India’s Bharti Enterprises in a chain of 17 cash-and-carry stores, but it is not in discussions with any other companies for a potential retail partnership.

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Glad to hear they're gonna open one soon. A relative of mine who runs a vocational training school is hoping to see a Wal-Mart store in India when she goes there.

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Mar-28-2013 09:53 am

Glad to hear they're gonna open one soon. A relative of mine who runs a vocational training school is hoping to see a Wal-Mart store in India when she goes there.

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Yeah, I heard this report a while ago and people are really expecting about the opening of their first retailer stores in India that expected to open more or less 18 months. But they are having a small problem with the Indian government because they are allowing megastore retailers to enter the country via joint ventures paved the way for the impending openings.-αγορά χρυσού I'm not so familiar with the Indian government but I'm still searching for an idea about their government rules. Hopefully, the retailer stores of Wal-Mart Stores Inc. will be open soon. ασήμι Teresa Bowen

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Yeah, I heard this report a while ago and people are really expecting about the opening of their first retailer stores in India that expected to open more or less 18 months. But they are having a small problem with the Indian government because they are allowing megastore retailers to enter the country via joint ventures paved the way for the impending openings.-αγορά χρυσού I'm not so familiar with the Indian government but I'm still searching for an idea about their government rules. Hopefully, the retailer stores of Wal-Mart Stores Inc. will be open soon. ασήμι Teresa Bowen

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REAL ESTATE

Bass Pro commits to third store in Colorado

BY Staff Writer

Loveland, Colo. — Bass Pro Shops has signed a letter of intent with Loveland, Colo.-based shopping center developer McWhinney to anchor a new northern Colorado development at Centerra.

The approximately 117,000-sq.-ft. Bass Pro Shops is intended to draw shoppers from Colorado, Wyoming, Nebraska, and beyond.

“We are very excited to bring Bass Pro Shops to Loveland and be part of the Centerra development,” said Johnny Morris, founder and CEO, Bass Pro Shops.

Retail attractions at Centerra include The Promenade Shops, a 700,000-sq.-ft. lifestyle mall, as well as The Marketplace at Centerra, a large retail power center, and the Motorplex, an auto complex with eight dealers.

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