OPERATIONS

Sidney Kimmel to become non-executive chairman of Jones Group

BY CSA STAFF

New York City — The Jones Group said Thursday that its founder and chairman Sidney Kimmel will serve as non-executive chairman, effective Jan. 1.

The transition from executive chairman will mark the end of the 40th year since Kimmel founded the company, according to Jones Group.

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FINANCE

Regency Centers purchases Willow Festival for $64 million

BY CSA STAFF

Jacksonville, Fla. — Shopping center owner and operator Regency Centers said Thursday it has acquired Willow Festival shopping center in what is the second largest retail real estate transaction in metro Chicago in 2010.

The 405,227-sq.-ft. Northbrook, Ill., shopping center is anchored by Lowe’s, Whole Foods Market and Best Buy. The property was purchased on Dec. 15 for $64 million as an off-market transaction with the center’s original developer Hamilton Partners, a privately owned real estate development firm.

This is the second grocery-anchored shopping center acquisition by Regency in just four months, following the purchase of Glen Oak Plaza, a 62,443-sq.-ft. neighborhood center anchored by Trader Joes, in Glenview, Ill., two miles south of Willow Festival.

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News

Toys”R”Us announces 88-hour Christmas sale

BY CSA STAFF

WAYNE, N.J. – Toys"R"Us announced that, for the first time ever, its stores nationwide will remain open for 88 consecutive hours beginning at 6 a.m. on Dec. 21 and continuing through 10 p.m. on Christmas Eve.

"We are committed to keeping our stores open continuously during the days leading up to Christmas to ensure shoppers have all the time they need to cross off everything on their little ones’ wish lists," said Greg Ahearn, SVP marketing and e-commerce for Toys"R"Us Inc. "Each day, from now through Christmas Eve, our stores continue to receive shipments of the hot products to help parents find that ‘must-have’ toy to put under the tree."

Toys"R"Us said it also will offer special "Midnight Madness" deals valid in-store from midnight through 6 a.m. each day, beginning at midnight Dec. 22. These offers will be sent to customers each day via e-mail.

The Toys"R"Us in Times Square will take the marathon shopping concept even further by remaining open for 184 continuous hours beginning 6 a.m. Dec. 17.

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