REAL ESTATE

  • Gap details growth strategy; will test Piperlime store

    New York City -- Gap executives reaffirmed its commitment to reducing square footage at home, aggressive international expansion and online growth during a presentation at Gap Global Creative Center in New York City. Gap also revealed that its online-only Piperlime division will explore a store concept next year and is testing men’s apparel.

  • StreetMac acquires Texas and Oklahoma malls

    Northbrook, Ill. -- StreetMac Asset Managers announced that an affiliate has purchased the Brazos Mall in Lake Jackson, Texas, and the Shawnee Mall in Shawnee, Okla., through a joint venture with an affiliate of Stamford, Conn.-based Five Mile Capital Partners. The seller was Lightstone Properties.

    The two malls have a combined 1.14 million sq. ft. of leasable retail space. Terms were not disclosed. The acquisitions represent StreetMac’s inaugural purchases of retail malls in markets nationwide.

  • JLL to manage Heritage Mall

    Albany, Ore. -- Atlanta-based Jones Lang LaSalle said Tuesday it has been named as the property and leasing manager for Heritage Mall, a 407,354-sq.-ft. regional shopping center located in Albany, Ore.

  • OfficeMax to relocate in College Station

    College Station, Texas -- Houston-based Baker Katz, an X Team International partner, said that it has completed a lease for the relocation of OfficeMax in College Station, Texas.

  • Gap to open first Chile stores

    San Francisco -- Gap said Wednesday it will advance its expansion in Latin America with new store openings in Chile in October, and will introduce Gap and Banana Republic stores to Panama and Colombia in 2012.

    “We believe substantial opportunity exists in Latin America and our first stores in Chile, Panama and Colombia will allow us to establish a foundation for further growth in this region,” said Stephen Sunnucks, president, International, Gap.

  • Stage Stores to launch new off-price concept, open up to 35 stores in 2012

    Houston -- Stage Stores said Wednesday it will launch a new off-price concept, called Steele’s, to be rolled out in small-town America.

    The first three stores are slated to open on Nov. 1, in Beeville, Texas; Bastrop, La.; and Minden, La.; the company said it plans to open an additional 25 to 35 new Steele’s stores in 2012.

  • California Gov. Brown vetoes big-box legislation

    New York City -- Gov. Jerry Brown of California vetoed a bill that would have required comprehensive economic-impact reports before big-box superstores could begin construction.

    The bill, the Small and Neighborhood Business Protection Act, would have required supercenters to address more than a dozen possible economic side-effects, including job losses if competitors faltered.

  • Edible Arrangements open at Kmart Plaza

    Elizabethtown, Ky. -- Brixmor Property Group announced a 1,200-sq.-ft. lease has been executed with Edible Arrangements at Kmart Plaza, located in Elizabethtown, Ky.

    New York City-based Brixmor is the owner of Kmart Plaza.

  • Two new retail leases signed for Diablo Plaza

    San Ramon, Calif. -- Jacksonville, Fla.-based Regency Centers said that two new tenants have leased space at Diablo Plaza, located in San Ramon, Calif.

    Beverages & more! leased 12,015 sq. ft. and is slated to open this fall. Another new addition, West Coast Gold Buyers, leased 1,300 sq. ft. and is now open.

    The 63,265-sq.-ft. center includes national retailers such as Safeway, CVS/pharmacy, Verizon Wireless and McDonald’s.

  • Prime Sole to open at Clocktower Place

    Florissant, Mo. -- Brixmor Property Group announced a 5,000-sq.-ft. lease has been executed with shoe retailer Prime Sole at Clocktower Place, located in Florissant, Mo.

    Brixmor, based in New York City, is the owner of Clocktower Place.
     

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