REAL ESTATE

Taubman Asia in joint venture with department store retailer in China

BY Marianne Wilson

Hong Kong — Taubman Asia confirmed a joint venture agreement between Taubman TCBL and Beijing Wangfujing Department Store (Group) Co., Ltd (Wangfujing), one of China’s largest department store chains.

The joint venture will own a controlling interest in and manage a shopping center to be located at Xi’an Saigao City Plaza, a large-scale mixed-use development in Xi’an, China, which is developed by Shaanxi Fuli Real Estate Development Co. Ltd. This is the first retail development by Taubman TCBL in China since the company was formed in late 2011.

The joint venture between Wangfujing and Taubman TCBL will have the majority ownership of the shopping center. The remaining ownership of the shopping center will be held by Shaanxi Fuli Real Estate Development Co. Ltd.

"This agreement is a major milestone for Taubman TCBL,” said. Rene Tremblay, president of Taubman Asia and chairman of Taubman TCBL. “It is the company’s first investment in the China market and we are proud to have formed a strategic partnership with Wangfujing, one of China’s most respected department stores."

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Jan-02-2013 03:05 pm

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J.Johnss says:
Jan-02-2013 03:05 pm

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REAL ESTATE

McCormick & Company opens first retail store in Baltimore’s Inner Harbor

BY Marianne Wilson

Sparks, Md. — McCormick & Company has opened its first-ever retail destination, McCormick World of Flavors. The store is located in Light Street Pavilion at Harborplace, which is situated in the Inner Harbor area of Baltimore.

Designed as a brand showcase, the store features McCormick’s range of products with areas focusing on cooking, baking and grilling. Other features include interactive and educational displays, including Guess That Spice, a game that tests the sense of smell, FlavorPrint, an interactive personalized flavor profile and Flavors in the Making, videos on how spices and herbs are made.

"The opening of McCormick World of Flavors is an exciting new way to connect with millions of people who love food and flavor," said Alan Wilson, McCormick chairman, president and CEO. "Visitors will have the opportunity to interact with many of our brands from around the world as we showcase how we bring flavor to their lives each and every day.”

Cooking demonstrations and product sampling allow visitors to experience the variety of flavors available in the retail store. The store sells a wide range of gift items, along with the new McCormick World of Flavors product line only available in the store that includes flavored salsas, olive oils, vinegars, tapenades and more.

McCormick partnered with a number of companies on its new retail concept, including retail design firm JGA, Southfield, Mich.

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Cabela’s continues to expand, will open fourth location in Canada

BY Staff Writer

SIDNEY, Neb. — Cabela’s Inc. said that it plans to build a 50,000-sq.-ft. store in Regina, Saskatchewan, Canada. It will be the anchor tenant in the new Grasslands Shopping Centre being developed in Regina.

The new store, which will be the retailer’s fourth location in Canada, is expected to in fall 2013 or spring 2014. The company will open a store in Rogers, Ark., on Aug. 30, and Union Gap, Wash., on Oct. 4.

In addition to the Regina location, Cabela’s has announced plans to open seven new stores in 2013. Additionally, in 2014, Cabela’s plans to open locations in Anchorage, Alaska; Bristol, Va.; and Christiana, Del.

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