REAL ESTATE

Von Maur to replace Bloomingdale’s at Perimeter Mall, Atlanta

BY Staff Writer

Chicago — General Growth Properties announced the addition of Von Maur department store as an anchor to Perimeter Mall, Atlanta, which has sales of more than $550 per square foot.

The department store is projected to open in fall 2012. Von Maur will replace the soon to be vacant Bloomingdale’s location. Von Maur joins a retailer line-up that also includes Apple, Nordstrom, Michael Kors, Sur La Table, and Forever 21 among many others. Perimeter Mall is a 1.6 million-sq.-ft. two-level center north of downtown Atlanta.

"Our shoppers expect only the best in retail, dining, and above all, unparalleled customer service," said Richard Pesin, executive vice president of anchors and development for General Growth Properties, Inc. "Von Maur combines exceptional customer service with brand-name and high-quality merchandise in an aesthetically pleasing environment to create a shopping experience like no other. Adding Von Maur to the retail line-up of Perimeter Mall further solidifies Perimeter Mall as a premier shopping destination for all of Atlanta."

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REAL ESTATE

Macy’s announces store openings, closings

BY Katherine Boccaccio

New York City — Macy’s Inc. announced a strategic plan on Wednesday to open new stores in select markets as well as to close a series of underperforming units. As part of the plan, five Macy’s department stores will be shuttered in spring 2012 – in Topeka, Kan.; Laurel, Md.; Parma, Ohio; Antioch, Tenn.; and Texas City, Texas. Five new Macy’s stores will open in 2012 and 2013.

“We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations,” said Terry J. Lundgren, Macy’s chairman, president and CEO. “This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity.”

The company said that Bloomingdale’s will close four stores in early spring 2012: at Perimeter Mall in Atlanta; in Oak Brook, Ill.; in North Bethesda, Md.; and at Mall of America in Bloomington, Minn.

As previously announced, a new Bloomingdale’s will open in Glendale Galleria in Glendale, Calif., as well as in Stanford Shopping Center in Palo Alto, Calif., which is slated to open spring 2014.

The new Stanford Shopping Center store will be built in a smaller format similar to Bloomingdale’s stores opened in recent years in SoHo (New York), Chevy Chase, Md., and Santa Monica, Calif.

Five new Bloomingdale’s Outlet stores will open in 2012, each with about 25,000 sq. ft.

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Subway to add 2,500 locations in 2012

BY Staff Writer

New York City — Subway Restaurants plans to add 2,500 restaurants in 2012, according to a report on QSRweb.com.

In 2011, Subway opened more than 2,100 locations, including 1,000 new units in the United States and Canada. A big part of the chain’s growth came from nontraditional spaces such as convenience stores, department stores, train stations, museums, hotel lobbies and movie theaters, the report said.

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