REAL ESTATE

Woodfield Mall adds stores, updates interior

BY Dan Berthiaume

Schaumburg, Ill. —Woodfield Mall, a Simon-owned and operated center with nearly 300 retail, dining and entertainment options, is adding new stores and updating its interior.

New retailers added in 2015 include Flight 23 at Footaction, Fly Zone at Kids Foot Locker, rue21 and the first-in-state location for SIX:02.

The center also announced the future addition of ivivva athletica, coming this summer, as well as Zara and Timberland, both scheduled to open this fall.

The ongoing project, which includes a contemporary and streamlined facelift of the Grand Court and the surrounding department store wings, is underway for a fall 2015 completion. New elevated plush seating areas and cosmetic finishes such as new carpeting and ceramic tile have been added. Heavy brick planters have been removed from the Grand Court and several areas on the upper level have been filled-in to create more walkable shopping space.

Once the transformation is complete, it will become easier to navigate the various elevations of the mall with the addition of a new large capacity elevator and escalator, as well as the replacement of two existing elevators and improved interior and exterior directional signage.

“Momentum continues to build as we work toward completion of our exciting style evolution,” said David Gott, general manager at Woodfield Mall. “We’re committed to providing our fashion-forward shoppers with the best possible shopping experience and are confident that these significant updates and new stores will further position Woodfield Mall as the leading retail destination for local shoppers and visitors to the Chicagoland area.”

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REAL ESTATE

Mall of America to unwrap big new attraction

BY Marianne Wilson

Bloomington, Minn. — Mall of America is adding a big experiential retail destination.

Crayola plans to open an interactive attraction that combines retail and entertainment in the nation’s largest shopping mall. The 60,000-sq.-ft. Crayola Experience is slated to open at the Bloomington, Minnesota, mega-mall in the summer of 2016. It will be the third location for the format, which recently opened in the Florida Mall, in Orlando, Florida. (The original Crayola Experience is in the company’s home town of Easton, Pennsylvania.)

Although best known for its iconic crayons and markers, the 112-year-old company now has more than 1,500 proprietary products and technologies, many of which serve as the inspiration for the Crayola Experience format.

"Mall of America is known as a family destination, and Crayola is a family brand loved by both parents and kids," said senior VP of attractions and retail Victoria Lozano. "But beyond that, Crayola Experience is a family attraction that engages families in hands-on creative experiences, and we are really excited to bring this unique concept to this new, dynamic region."

Similar to the existing locations, the Mall of America’s Crayola Experience will have a retail store along with some 25 hands-on activities. Patrons will be able to name and wrap their own Crayola crayon, star in their own coloring page, paint with melted wax, and bring their coloring page to life in 4-D. They will also be able to learn how crayons are made in the live Factory Show.

In addition, the space will host private events, field trips and birthday parties.

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REAL ESTATE

Inland Securities Corporation names CEO

BY CSA STAFF

Oak Brook, Ill. – Inland Securities Corporation, the exclusive dealer-manager and placement agent for real estate investment programs sponsored by Inland Real Estate Investment Corp. (“Inland Investments”) and Inland Private Capital Corp., announced that Michael T. Ezzell II has joined the company as CEO.

Ezzell will be responsible for Inland Securities Corporation’s corporate strategy, sales, broker dealer relationships, securities operations, compliance and distribution channels. In his new role, he will also work closely with new product development, due diligence and information technology.

“Michael is a dynamic investment management executive who brings 17 years of exceptional knowledge and experience to Inland Securities Corporation,” said Mitchell Sabshon, CEO and president of Inland Investments. “Our industry is experiencing significant change and Michael’s proven track record of innovation and integrity, and his creative and strategic leadership, will help ensure our broker dealer business remains at the forefront of the industry.”

Ezzell comes to Inland Securities Corporation from Cole Capital, where he worked in leadership and executive positions for over five years.

Most recently, he served as executive VP of American Realty Capital Properties (“ARCP”) and CEO and President of Cole Capital. He was responsible for all aspects of the management of the non-traded REIT sponsor’s distribution and investment management business, including sales, product development, broker dealer relationship management, securities operations and capital markets.

Prior to the merger of Cole Real Estate Investments with ARCP in February 2014, Ezzell served as senior VP of product and business development for Cole, securing selling agreements with broker dealers for existing and new product offerings, opening new distribution channels and overseeing due diligence and new product development.

Prior to joining Cole, Ezzell served as director of investment Research at AIG Advisor Group, where he was responsible for managing investment research for a network of broker dealers serving independent financial advisors. In that role, he managed the research and due diligence for all packaged investment products including mutual funds, variable annuities, alternative investments and third-party money managers.

During his career, he also has held positions with J.P. Carey Asset Management.

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