90K sq. ft. of retail headed for Atlanta’s west side
A leading developer of Whole Foods Market stores and centers in the Southeast has announced plans for a mixed-use project on Atlanta’s growing west side.
S.J. Collins Enterprises has plans for a six-story loft office space with a rooftop restaurant, plus 90,000-sq.-ft. of street-front retail at the corner of 14th Street and Howell Mill Road. Called The Interlock, the project will inhabit a plot that’s stood empty since 2015 in the area of Georgia Tech, west of midtown Atlanta.
Earlier this year, WRS Development announced a mixed-use makeover of the Underground Atlanta site that blends retail and a new dormitory for nearby Georgia State University.
Atlanta added more than 9 million sq. ft. of retail space in 2017, the 8th highest increase among U.S. cities, according to CBRE.
German discount grocery chain heads East
Lidl is set to open its first store in New Jersey.
The discount grocer will open a store in Vineland, on Nov. 16. It’s one of Lidl’s first locations beyond the Southeast, where it made its U.S. debut in June.
The company will open several other locations on Nov. 16, including Winston-Salem, N.C.; Raleigh, N.C.; and Virginia Beach, Va. Lidl is developing stores in at least six New Jersey counties, including Atlantic, Burlington, Camden, Cumberland, Gloucester and Monmouth, according to NJ.com.
In other news, starting Nov. 2, Lidl will roll out premium seasonal products. Every Thursday and Monday, Lidl will bring in 200-plus premium food and wine products, and more than 300 holiday decorations and gift items.
Lidl operate over 10,000 stores in 27 countries.
Activist investor takes increased stake in Macerich
An activist hedge fund has purchased a 5% stake in Macerich, according to a CNBC report, sending the company’s shares up 12% and fueling talk it could push for a sale of the mall owner.
Third Point LLC, which took the position in Macerich, is headed by billionaire Dan Loeb, who recently made headlines for buying a $3.5 billion-dollar stake in Nestle and attempting to place a member on the Swiss company’s board.
Macerich has previous experience with activist investors. In 2015, Land & Buildings Investment Management and Orange Capital built a position in the company as it fought off a takeover by Simon Property Group.
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