REAL ESTATE

Simon and CalPERS Affiliate IMI form JV to acquire two assets

BY Staff Writer

Indianapolis — Simon Property Group and Institutional Mall Investors (the co-investment venture owned by an affiliate of Miller Capital Advisory and The California Public Employees’ Retirement System [CalPERS]), on Thursday announced that they have formed a joint venture to own and operate The Shops at Mission Viejo in the Los Angeles suburb of Mission Viejo, Calif., and Woodfield Mall in the Chicago suburb of Schaumburg, Ill.

Simon and IMI will each own 50% of Woodfield. Simon will own 51% of Mission Viejo and IMI will own the remaining 49%. Simon is providing management and leasing services to the joint venture.

Prior to formation of the joint venture, Simon owned 100% of The Shops at Mission Viejo and IMI owned 100% of Woodfield Mall. The Shops at Mission Viejo is a 1.2 million sq. ft. center anchored by Nordstrom and Macy’s. Woodfield Mall is a 2.2 million sq. ft. center anchored by Nordstrom, Macy’s, Lord & Taylor, J.C. Penney and Sears.

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REAL ESTATE

Portillo’s to open at Tempe Marketplace

BY Staff Writer

Tempe, Ariz. — Vestar, owners of the 1.3 million-sq.-ft. Tempe Marketplace, announced that it sold a 2.38-acre parcel on its southwest corner to Chicago hot dogs and beef eatery Portillo’s.

The restaurant is slated to open a 7,000-sq.-ft. location in summer 2013.

Tempe Marketplace features 1.3 million sq. ft. of retail space and more than 100 retail and restaurant tenants.

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M.Donovan says:
Apr-15-2013 11:55 am

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M.Donovan says:
Apr-15-2013 11:55 am

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REAL ESTATE

Baker Katz completes sale of former Syms building

BY Staff Writer

Houston — Houston-based X Team International partner Baker Katz said that it has completed the sale of the former Syms clothing store in Houston’s Westchase District.

The 40,777-sq.-ft. building was sold to Tennis Express for an undisclosed amount. Tennis Express will relocate an existing store and consolidate off-site storage into the new location.

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Apr-08-2013 06:20 am

Tennis Express for an
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T.Stone says:
Apr-08-2013 06:20 am

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Apr-05-2013 04:26 pm

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