REAL ESTATE

RMC Property Group expands Florida retail portfolio

BY Katherine Boccaccio

Tampa, Florida —RMC Property Group has been awarded the exclusive leasing and management assignment for The Promenade, located at 10330 North Dale Mabry Highway in Tampa.

The Promenade is a 29,984-sq.-ft. mixed-use property with 19,549 sq. ft. of ground floor retail and 10,435 sq. ft. of professional and office space on the second floor. Anchor tenants include International Diamond Center and Phoenix Home Care.

The property is owned by Invesco Tampa Corporation, which is based out of South Florida. The Promenade represents the fourth leasing and management assignment that RMC has been awarded by Invesco in the past year.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
REAL ESTATE

Juanita Tate Marketplace brings diverse food options to South L.A.

BY Katherine Boccaccio

Los Angeles — Juanita Tate Marketplace is now open, bringing 77,096 sq. ft. of outdoor retail space with a full-service grocery to the highly underserved surrounding community. Located at 944 East Slauson Avenue in South Los Angeles, the $21-million development is situated on a 6.5-acre site, which was formerly used as a scrap-metal plant.

Construction began in May 2013 and completed in April 2014. The center is owned by Regency Centers and was designed by Nadel.

“In these urban areas, walkability is key,” said Greg Palaski, principal and project director with Nadel, Inc. “This project provides a much needed retail center and offers jobs and diverse food options to the surrounding community.”

Developed by Regency Centers, in conjunction with Concerned Citizens of South Central Los Angeles, the center is comprised of four different buildings that include Northgate Market, which occupies a 42,500-sq.-ft. building, a 14,576-sq.-ft. CVS/pharmacy and two additional free-standing shop buildings totaling 20,000 sq. ft. with space for up to 12 small shops. Additional tenants include Chase Bank, Little Caesar’s Pizza, Panda Express, Starbucks, Wabu Grill Teriyaki House, Wing Stop and Yogurtland. The site will also include an educational community center run by CCSCLA.

“We spent a great deal of time working with Nadel to design a center that looks great and will function well long term,” said John Mehigan, regional officer and VP of investments with Regency Centers.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

American Eagle narrows loss in second quarter

BY CSA STAFF

Despite a net income drop of 70% in the second quarter ended Aug. 2, American Eagle’s results were still better than analysts’ expectations.

The retailer earned $5.8 million, down from $19.6 million a year earlier. Revenue decreased 2% to $710.6 million from $727.3 million. Analysts expected revenue of $689.5 million in the quarter. Same-store sales decreased 7%.

"Although the second quarter results were slightly ahead of our expectations, they do not reflect our potential," interim CEO Jan Schottenstein said. “We did, however make significant progress on our priorities to build a sustainable path to higher profitability. We successfully cleared through spring and summer merchandise and entered the second half of the year in a good inventory position.”

Following disappointing results during this year’s first quarter, which were consistent with the company’s expectations, American Eagle Outfitters decided to close 150 stores in North America during the next three years, including nearly 100 AE stores.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...