REAL ESTATE

Party City, VisionWorks to open at Upland Square

BY Staff Writer

Conshohocken, Pa. — Plymouth Meeting, Pa.-based Fameco Real Estate said that Party City and VisionWorks have signed leases at Upland Square, located in West Pottsgrove, Pa.

Party City has signed a lease for 9,000 sq. ft. and VisionWorks has signed a lease for 3,825 sq. ft. These retailers will join anchors Target, Giant, Best Buy, LA Fitness, TJ Maxx and Bed, Bath & Beyond at the 600,000-sq.-ft. power center.

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REAL ESTATE

Macerich to acquire Kings Plaza and Green Acres Mall

BY Katherine Boccaccio

Santa Monica, Calif. — The Macerich Co. announced on Monday plans to acquire Kings Plaza, located in Brooklyn, N.Y., and Green Acres Mall, located in Valley Stream, N.Y., on the border of New York City and Nassau County.

Kings Plaza is being acquired from a subsidiary of Alexander’s for $751 million, with a closing date set for late 2012. Green Acres is being acquired from a subsidiary of Vornado Realty Trust for $500 million, with a first quarter 2013 closing date.

Kings Plaza is a 1.2 million-sq.-ft. super regional mall anchored by Macy’s, Lowe’s and Sears. Green Acres Mall is a 1.8 million-sq.-ft. super regional mall anchored by Macy’s, Macy’s Men’s, Sears, Kohl’s, J.C. Penney, BJ’s Wholesale Club and Walmart.

"These transactions are consistent with our investment strategy of acquiring assets in the major markets where we have our best assets and selling non-core assets and recycling capital,” said Arthur Coppola, chairman and CEO, Macerich. “This allows us to build on our New York portfolio and will be an excellent complement to Queens Center.”

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REAL ESTATE

HomeGoods to open in Huntington Beach

BY Staff Writer

Tustin, Calif. — Present Value Properties said it has negotiated a 10-year, 24,160-sq.-ft. lease for HomeGoods at the Sher Lane Shops, a 45,000-sq.-ft. community center in Huntington Beach, Calif.

TJX Cos.-owned HomeGoods, which joins Men’s Wearhouse, Stone Hedge Tiles and Vitamin Shoppe, is expected to open in spring 2013 in a former Office Depot space.

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