REAL ESTATE

Tvsdesign partners with Mall Plaza to repurpose garage into retail

BY Staff Writer

Antofagasta, Chile — Atlanta-based tvsdesign said Monday it has partnered with Mall Plaza to repurpose the ground level of a parking garage into a high-end retail destination in Antofagasta, Chile.

The new retail destination, with tenants ranging from Roxy to Umbrale and Saville Row, opened in late 2011.

Mall Plaza wanted this new project to be an extension of Aires, a branded environment created by tvsdesign in 2010 and featuring a resort-like shopping district originally located in Plaza Vespucio.

According to tvsdesign, its goal is to transform a dark, single-level, column-filled parking garage into an open and inviting fashion district. The challenge to accommodate the client’s goals is threefold: how to adapt the Aires brand to fit into such an unusual location, how to bring the outside indoors and how to develop a design language that speaks to high-end shoppers.

In answer, “we made a conscious break from the traditional double-loaded corridor of most malls to create a new more intimate shopping destination that connects the shopper both visually and physically to every store.” said Donna Childs, principal at tvsdesign.

Chilean-based architecture firm, Luis Villanueva, developed the project construction documents. In addition to Antofagasta, tvsdesign is working with Mall Plaza’s Egana, an environmentally sensitive mall to be completed in 2013.

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REAL ESTATE

Neiman Marcus to open at Roosevelt Field Mall

BY Katherine Boccaccio

Garden City, N.J. — A Thursday report in the Wall Street Journal said that Neiman Marcus has moved on from its earlier plans to open a department store in the Mall at Oyster Bay, located in Syosset, N.Y., and owned by Taubman, and has instead decided to open a new 100,000-sq.-ft. anchor store at Simon Property Group’s Roosevelt Field Mall in Garden City.

The new store, slated for 2015 completion, will be part of a $200-million redevelopment of Roosevelt Field.

According to Wayne Hussey, Neiman’s senior VP development, the move was about timing. “We have been waiting patiently to get a store open at Oyster Bay,” he told WSJ. That store was delayed because Taubman has been unable to reach agreement with community and environmental activists in order to break ground on the mall.

Roosevelt Field is the country’s sixth largest shopping mall, and is anchored by Macy’s and Bloomingdale’s.

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J.Petersen says:
Mar-05-2012 10:15 am

Well, it seems that there are some big plans for Neiman Marcus. Hopefully the move will be very successful for them and for the entire area. Please keep us updated on any further developments.

 

New department stores opening up are good for all involved with such reviews and hopefully jobs will be created so there will be a big economic boost.

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REAL ESTATE

Sears Canada to close three stores in major cities

BY Marianne Wilson

Toronto — Sears Canada Inc. said on Friday it is shutting down three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

“While we had no plans to close stores, the transaction for these three specific locations provides an attractive financial benefit for the company which strategically allows us to drive growth in areas which can be most beneficial,” said Calvin McDonald, president and CEO, Sears Canada Inc. We are investing in a refresh of our stores and piloting new formats which will provide Canadians exciting ways to access Sears products and services.”

Sears Canada plans to close locations at the Vancouver Pacific Centre, the Calgary Chinook Centre and the Ottawa Rideau Centre by Oct. 31, 2012. It will return the locations to developer Cadillac Fairview Corp Ltd for C$170 million. The transaction is expected to close on or around April 20.

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