REAL ESTATE

Omega, Pandora among new retailers at Mall at Short Hills

BY Staff Writer

Short Hills, N.J. — The Mall at Short Hills, in Short Hills, N.J., is now home to new retailers Omega and Pandora, which opened recently in the regional shopping center. Omega opened a flagship store near Nordstrom on the upper level, and jeweler Pandora opened on the lower level near Macy’s.

Victorinox Swiss Army and Vineyard Vines are set to make their New Jersey debut at The Mall at Short Hills. Victorinox Swiss Army will open this fall on the lower level near Neiman Marcus, and neckwear retailer Vineyard Vines will open its first New Jersey boutique at The Mall at Short Hills this fall.

The Mall at Short Hills features Bloomingdale’s, Macy’s, Neiman Marcus, Nordstrom and Saks Fifth Avenue.

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ShopperTrak: Holiday sales expected to be up, but foot traffic will drop

BY CSA STAFF

CHICAGO — In the wake of several surveys projecting how shoppers will spend this holiday season, the latest study from ShopperTrak expects national retail sales to increase 3% during November and December, while foot traffic will drop 2.2%.

ShopperTrak said its 3% holiday sales increase prediction follows 19 consecutive months of year-over-year U.S. retail sales growth, adding that the expected increase is moderate when compared with the 2010 holiday season’s 4.1% sales increase over 2009.

The projected decrease in foot traffic, however, was based on current numbers, which revealed that so far this year, shoppers have visited an average of 3.10 stores per shopping trip, a decrease from an average of 3.19 per shopping trip in 2010, and even less than the four to five stores visited in early 2008 (before the recession). ShopperTrak said this year’s numbers are influenced by high unemployment rates, as well as gas prices, which have experienced a 33% increase this season over last year.

"The persistently high unemployment and fuel rates along with consumers’ conservative purchasing attitudes will affect spending this holiday season more than in recent years," ShopperTrak co-founder Bill Martin said. "Every shopper in a store will be more valuable than last year, and retail stores should be ready to convert their holiday shoppers into sales."

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REAL ESTATE

Open-air owners give Jones Lang LaSalle the nod to lease, manage centers

BY Staff Writer

Atlanta — Jones Lang LaSalle announced Tuesday that Rally Capital Services, LLC, and Pacific Avenue, LLC, have chosen the firm to lease and manage their open-air centers.

Rally Capital selected Jones Lang LaSalle Retail to lease and manage Kendall Marketplace, a 750,000-sq.-ft. regional power center in Yorkville, Ind., anchored by Dick’s Sporting Goods, Kohl’s, SuperTarget and The Home Depot.

Pacific Avenue has retained JLL to lease and manage EpiCentre, a 350,000-sq.-ft. open-air center in Charlotte, N.C., featuring EpiCentre Theaters, Flemings, Strike City Bowling, Cold Stone Creamery, Jason’s Deli, CVS Pharmacy and Bruegger’s Bagels.

Jones Lang LaSalle’s Open Air division operates in key regions throughout the United States, including the Mid-Atlantic, Southeast, Southwest and Midwest, as well as and within specific states such as California, Florida, New Jersey and New York.

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