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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REAL ESTATE

Jones Lang LaSalle expands retail expertise in Midwest

BY Katherine Boccaccio

Indianapolis — Jones Lang LaSalle said that Rebecca Wells has been named EVP in the company’s Indianapolis office, part of its Capital Markets arm.

In her new role, Wells will work closely with Midwest Capital Markets leader and International Director John Huguenard to expand the firm’s platform of services, focusing on retail and office dispositions in the Midwest.

Wells joins Jones Lang LaSalle from national commercial real estate firm Cassidy Turley, where she served as SVP Institutional Sales Group.

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