REAL ESTATE

Orvis to open at Village at Leesburg

BY Katherine Boccaccio

Leesburg, Va. — Cypress Equities said that Orvis will open a new store at the 1.2 million-sq.-ft. Village at Leesburg mixed-use project in Leesburg, Va.

Orvis will occupy 6,022 sq. ft. in a new 13,000-sq.-ft. retail building currently under construction. Orvis is slated to open in fall 2013.

Village at Leesburg is a vertically integrated, four-story village encompassing 57 acres and featuring 520,000 sq. ft. of retail space, combined with 150,000 sq. ft. of office and 335 luxury multi-family residences. A Cypress Equities company is developing the commercial components of the project and Kettler is developing the residential component. The Carlyle Group is the lead equity partner in the development and KLNB Retail is handling the leasing of the retail sections.

The center includes a roster of 44 retailers now open including Wegmans Food Markets, LA Fitness, Charming Charlie, Coldwater Creek, Finnegan’s Sports Bar & Grill, Firebirds Wood Fired Grill, Hamilton’s Sofa & Leather Gallery, Massage Envy, Plow & Hearth, Pinkberry, Cobb Village 12 Cinemas and Wells Fargo Bank.

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REAL ESTATE

Shisui Premium Outlets opens with lineup of first-to-Japan brands

BY Katherine Boccaccio

Tokyo, Japan — Indianapolis-based Simon Property Group said that, in partnership with Mitsubishi Estate Co., it has opened Shisui Premium Outlets (Shisui Town, Inba District, Chiba Prefecture), the ninth Premium Outlet Center in Japan.

The 234,000-sq.-ft. first phase of the project is 100% leased and opened with 120 stores featuring a mix of international brands, Japanese brands and restaurants. Eight stores are making their outlet debut in Japan at Shisui Premium Outlets including Rebecca Minkoff, Marmot, Hanes, Barnyardstorm and Pierre Marcolini. In addition, Alfredo Bannister and Nike Golf are opening their first independent stores at Shisui Premium Outlets. American brands include Banana Republic, Billabong, Coach and Michael Kors.

Shisui Premium Outlets is located approximately 40 miles from the center of Tokyo.

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REAL ESTATE

SRS Real Estate, Cresa create lease admin company

BY Katherine Boccaccio

Dallas — SRS Real Estate Partners and Cresa announced an agreement to form a new company to perform lease administration services for retail, office and industrial clients.

The new company will be known as SRS-Cresa Lease Administration, and will deliver a spectrum of lease administration services including critical date management, CAM audits, occupancy cost reconciliations, and full portfolio lease administration services out of currently established offices in Dallas and in Chicago.

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