Taubman to acquire Chinese retail property consultancy for $24 million
Bloomfield Hills, Mich. — Shopping center owner Taubman Centers reported Monday that its Taubman Asia division will acquire 90% controlling interest in TCBL Consulting Limited, a Beijing-based retail real estate consultancy with seven offices in mainland China.
The $24 million acquisition, which creates a new company Taubman TCBL, will position Taubman to capture retail real estate opportunities in China, according to the company. Headquarters will remain in Beijing, under the leadership of Rene Tremblay, president of Taubman Asia, who will serve as chairman of Taubman TCBL, and TCBL joint managing director Thomas Tam, who will be named president and CEO of Taubman TCBL.
CBL selects Brandon Agency for media planning, buying
Myrtle Beach. Fla. — CBL & Associates Properties recently selected The Brandon Agency to provide media planning and buying services for 75 malls and shopping centers in 25 states.
The scope of services the agency will provide CBL includes guerilla advertising, Facebook pay-per-click, media planning, media buying, and media placement in print, broadcast, cable, radio and internet media outlets.
Plugging in to outlet centers
New York City — In his most recent column “Retail Rap with Jeff Green,” Chain Store Age columnist Green challenges the advent of outlet centers, questioning whether there are enough viable outlet center markets to support the growing number of developers who are plugging into the shopping center format.
Click here to read Green’s column.