REAL ESTATE

  • Macerich will renovate Niagara Falls outlet center

    Niagara Falls, N.Y. — Macerich has announced plans to renovate and expand Fashion Outlets of Niagara Falls USA. The project will add nearly 175,000 sq. ft. of retail and bring in 50 new tenants. With approximately 700,000 sq. ft. of top designer brand retailers, the expanded center will be one of the largest outlet malls in the country.

    New retailers will include Disney, Forever 21, Helly Hansen, Kenneth Cole, Steve Madden, Swarovski, the Limited, White House|Black Market and others. To date, 77% of the expansion has been leased.

  • CBL sells Lakeshore Mall

    Atlanta — CBL & Associates Properties has closed the sale of Lakeshore Mall to a private investor for $14 million. JLL brokered the transaction.

    Belk, Bealls, Kmart, J.C. Penney and Carmike Cinema anchor the 490,086-sq.-ft. retail center in Sebring, Florida. A nearby Sears is a shadow anchor.

    With its 95% occupancy rate, Lakeshore Mall anchors the retail hub that serves central Florida along U.S. Highway 27, the major north-south thoroughfare. Traffic counts average about 38,500 vehicles per day.

     

  • Slate Properties acquires Mulberry Square in Milford, Ohio

    Milford, Ohio — Slate Properties has acquired Mulberry Square in Milford, Ohio, part of the greater Cincinnati metropolitan area. Slate paid $15.6 million for the 146,730-sq.-ft. community center, which is anchored by Kroger, Petco and Planet Fitness. Inline tenants include Steak and Shake, Hallmark, H&R Block, GNC and The UPS Store.

    Mid-America Real Estate Corp. in cooperation with NAI Bergman represented the seller, a private real estate investment firm, in the transaction.

  • ICSC designations and awards

    Woodland Hills, Calif. — NewMark Merrill Companies has announced that Heather Danko and Danielle Bovard have received the Certified Marketing Director designation from the International Council of Shopping Centers.

    The CMD designation is awarded for expertise in multiple disciplines including marketing management, research, marketing plan implementation, public and community relations, advertising, and media buying.

  • Report: Barnes & Noble plans 300 new college stores

    New York – Barnes & Noble Inc. reportedly plans to open about 300 new stores on college and university campuses in the next five years. According to Reuters, Barnes & Noble wants to expand its college bookstore footprint from the current 696 locations to 1,000.

  • Online retailer debuts with astrological bent; physical store in works

    Albuquerque, N.M. -- Consumers can shop for clothes categorized by astrological signs at the newly launched Fashionsofthezodiac.com, described as the world's first online store to organize its clothing and accessories by the 12 signs of the zodiac. The company expects to open a store early next year, in Denver.

  • Coldwater Creek launches closing activities of stores, website

    Boston -- Gordon Brothers Group and Hilco Merchant Resources have, effective May 8, launched the total liquidation of Coldwater Creek brick-and-mortar stores and its website.

    The joint-venture team is conducting closing sales at all Coldwater Creek stores and online, offering 30% to 50% off all items.

  • Sears planning to close more stores going forward

    New York -- There are more store closings in Sears’ future. In an address at Sears Holding Corp.’s annual shareholders meeting, chairman and CEO Edward Lampert said the company would close stores and look for ways to leverage its real estate as it continues to focus on integrated omnichannel retail and its Shop Your Way rewards program.

    "Closing stores is going to be part of our future," Lampert said. "I'd rather do (fewer closures) rather than more, but the world has shifted."

  • Citizen Watch to open Times Square flagship store

    Lyndhurst, N.J. -- Citizen Watch Company, a leader in the mid-priced watch segment, will will a global flagship store in Times Square, New York, on Broadway in November. This will be the first Citizen Watch global retail concept store in North America.

    The store will measure more than 1,300 sq. ft. and offer the full Citizen product assortment. Citizen has hired New York based architectural firm Mapos LLC.

  • Present Value Properties names new executive VP

    Tustin, Calif. — Present Value Properties, a real estate brokerage and consultant, has appointed real estate veteran Bradley O. Whitaker executive VP. His responsibilities include expanding investment acquisitions and sales, develop partners and look for opportunities. In addition, he will open the firm’s first Utah office.

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