Simon completes Prime Outlets transaction
Indianapolis Simon Property Group announced that it has completed its transaction with Prime Outlets.
The transaction adds 21 outlet center properties to Simon’s portfolio, including Prime’s Barceloneta outlet center in Puerto Rico, which Simon acquired in May of this year. Simon previously announced that it had amended its agreement so that the owners of Prime will retain Prime Outlets-Saint Augustine as well as the Livermore and Grand Prairie development projects.
The completed transaction reflecting the amended agreement and including the Barceloneta outlet center is valued at approximately $2.3 billion, including the assumption of approximately $1.55 billion of Prime’s existing indebtedness and preferred stock.
David Simon, SPG Chairman and CEO, stated, “The Prime Outlets portfolio is an excellent strategic fit and presents a compelling opportunity for Simon to benefit from shoppers’ increased demand for discounted brand-name merchandise. We believe that our strong track record of operational excellence, financial resources, and history of successful acquisitions make us well-positioned to improve the performance of these assets for the benefit of tenants, retailers and consumers.”
Kimball Office names director of architecture
JASPER, Ind. Kimball Office announced Georgy Olivieri as the new director of architecture and design strategies.
“Georgy’s strong relationships with the architecture and design community, and unique knowledge of creating sustainable environments, provide Kimball Office with the tools necessary to strengthen existing relationships and build new ones as well,” said Allen Parker, VP marketing and sales at Kimball Office. “Kimball Office’s product portfolio is expanding to further meet the changing demands of workplace environments, and Georgy’s experience will provide great insight into developing strategies that complement the needs of the design community.”
After spending time coordinating the national A&D efforts for Haworth and Teknion, Olivieri is returning to Kimball Office, which is where she previously worked as an A&D rep for seven years. “Exciting transformations are taking place at Kimball Office and the A&D community is taking notice. I look forward to sharing the company’s relevant, new solutions that will inspire designers and build strong awareness of the brand,” said Olivieri.
Claire’s to launch exclusive ‘Glee’ line
CENTURY CITY, Calif. Twentieth Century Fox Consumer Products and Claire’s Stores, have announced a partnership to launch exclusive “Glee” Jewelry Collection and accessory lines. The program will kick-off Sept. 3 with the introduction of three fully-branded Glee pop-up shops in the Los Angeles, Chicago and New York Metropolitan areas. These pop-up shops will be followed by a rollout of the line to over 1,500 stores across the U.S., Canada, and Puerto Rico on Sept. 9.
Claire’s exclusive Glee Jewelry Collection will feature a wide selection of necklaces, bracelets, rings and earrings from H.E.R Accessories. Additional Glee accessories will include cosmetics, hats, armwear, legwear, wallets, handbags, stationery, novelty, pillowcases and posters.
Claire’s said it will help promote the line by transforming the “l” in its name to the index finger and thumb pose featured within the “Glee” logo.
“The partnership bringing Claire’s and ‘Glee’ together makes perfect sense and we are so thrilled to be collaborating with Fox Consumer Products on this project,” says Gene Kahn, Chief Executive Officer of Claire’s Stores, Inc. “The process of creatively developing the exclusive product collection, as well as the pop-up shops will provide the loyal fans of Claire’s and ‘Glee’ with the opportunity to fully ‘Gleek’ out from head to toe.”