Samsonite Company Stores to improve inventory planning with TXT
New York — TXT Maple Lake, an international provider of integrated and collaborative planning solutions, is pleased to announce that Samsonite Company Stores, the U.S. retail division of Samsonite, is turning to TXT technology in a bid to optimize inventory through more effective merchandise planning.
Selling luggage, business cases and accessories under the Samsonite, Samsonite Black Label, and American Tourister brands, Samsonite Company Stores operates retail stores in 38 states across the U.S.
“TXT’s software will be used to help better manage inventory through the use of their flexible merchandise planning and open-to-buy tools,” explained Mike Zucker, VP of merchandising & marketing for Samsonite Company Stores.
“We needed a robust, reliable merchandise planning solution with complete data integrity,” added Robert Hales, Retail Controller of Samsonite Company Stores. “We felt that TXT had a strong track record in this area.”
Expected benefits from the project include a more standardized planning process, enhanced collaboration and simulation capabilities, and instant visibility of accurate data for fast, effective decision making.
Port Authority sells remaining interest in WTC retail project to Westfield Group
New York — In a continued effort to return the Port Authority of New York and New Jersey to its core mission, the Board of Commissioners today approved the sale of the agency’s remaining 50% joint venture in the World Trade Center retail project to the Westfield Group for $800 million.
The purchase involves approximately 365,000 sq. ft. of retail space at the World Trade Center Transportation Hub, including future bi-level retail offerings in the newly opened WTC West Concourse pedestrian corridor. Westfield also will have a major street level presence along Church Street, Cortland Way and Dey Street and above-grade in Tower 3 and Tower 4.
An additional 90,000 sq. ft. of retail space will be added for additional consideration when Tower 2 is developed in the future. The grand opening of the retail complex is expected to include a mix of 150 world-class brands and dining options when it opens in 2015.
The action comes a year and a half after the agency entered into a 50/50 joint venture with Westfield in May 2012, generating $612.5 million in private sector investment.
The Port Authority will retain ownership of the World Trade Center Transportation Hub, and will remain the contractor on behalf of Westfield to construct and deliver the retail space to its tenants.
Los Angeles’ $160 million One Santa Fe ‘tops out’
Los Angeles — The largest residential development currently under construction in downtown Los Angeles, One Santa Fe has been “topped out” by Bernards, the commercial builder directing the project.
Construction companies “top out” projects when they add the last beam to the top of a building.
Slated for completion in December 2014, the $160 million One Santa Fe is a mixed-use transit oriented development in downtown L.A. The project is a joint venture between Goldman Sachs Urban Investment Group and McGregor, Cowley and Polis.
Located in the Los Angeles Arts District, directly across from the Southern California Institute of Architecture, the four-acre site is owned by the Metropolitan Transit Authority and is close to Red Line and Purple Line entry points.
One Santa Fe is a five-story, 790,000-sq.-ft. project that will provide 438 residences and 78,620 sq. ft. of commercial space. The commercial component will include Metro offices, a grocery market, art gallery and theater. Amenities include 50,000 sq. ft. of public outdoor space with vertical gardens, a pool, outdoor terrace, streetscape elements, a pocket park and a rooftop garden. The structure also provides three levels for parking.
Funding for One Santa Fe came from a combination of public and private capital sources. The housing component received tax-exempt bonds issued by the California Housing Finance Agency and guaranteed by the U.S. Department of Housing and Urban Development plus low-income tax-credit equity provided by Goldman Sachs Urban Investment Group.
The commercial component was financed by a loan from the City of Los Angeles; tax-credit equity provided by the Goldman Sachs Group; tax credit allocations by Clearing house CDFI, a lending corporation focused on community development projects; and two local nonprofits established by the city to secure redevelopment funding, LA Economic Growth Corporation and the Los Angeles Development Fund.