REAL ESTATE

Palmetto Gardens pays off loan, avoids foreclosure, signs Wal-Mart

BY Michael Fickes

Miami Gardens, Fla. — The owners of Palmetto Gardens Plaza, a 7.1-acre center in Miami Gardens, have reached a settlement with PNC Bank, secured a new loan with Hudson Financial Services and signed a lease with Wal-Mart for a Neighborhood Market Store as its anchor tenant.

In January of 2010, PNC Bank filed a foreclosure action against Palmetto Design Center, the property owner. That action has been settled.

The principals have secured a new $4.5 million loan with Hudson Financial Services. That loan contributed to funding the settlement.

The revitalized center spans 63,000-sq. ft. The Neighborhood Market will occupy 41,000 sq. ft.

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REAL ESTATE

Ollie’s Bargain Outlet to Boardman Plaza in Youngstown

BY Michael Fickes

Bryn Mawr, Pa. — Ollie’s Bargain Outlet has opened at Boardman Plaza in Youngstown, Ohio, according to WP Realty, the center’s owner.

Boardman Plaza is a 625,000-sq.-ft. center and home to national, regional and local tenants including Burlington Coat Factory, Hobby Lobby, Save A Lot, Planet Fitness, Michaels, giant Eagle and Rite Aid.

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Silver Jeans to debut ‘Loft’ concept at Glendale Galleria

BY Katherine Boccaccio

Winnipeg, Manitoba — Canadian denim company Silver Jeans Co. said it will open its "loft" concept store at Glendale Galleria on Nov. 2 in Glendale, Calif.

"We put a lot of work into making sure the store environment represents our brand," says Michael Silver, CEO, Silver Jeans Co. “We’ve created an environment that has a comfortable modern feeling but also lets our guests know that we’re a historic brand with a rich 92-year history."

The Glendale Galleria Silver Jeans Co. loft is designed to provide consumers with a unique and creative denim experience – from personalized customer service via retail sales associates called “Jeaners” to sliding loft doors accessing a hanging hammock. Rustic wood paneling, a craftsman-style denim bar and vintage Western Glove Works factory photos reflect the Silver Jeans Co. heritage in the 2,113-sq.-ft. space.

The loft will feature the latest in digital technology with an innovative mobile point-of-sale system. A 6-ft. media wall displaying the latest campaign and breakthrough music videos, as well as behind-the-scenes features from Silver Jeans Co. campaign photo shoots, will be the centerpiece. The Silver Jeans Co. loft will feature eco-friendly shopping bags and host community centric events for the Glendale area.

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