OKC Outlets displays new look
The Outlet Resource Group threw a party to introduce Oklahoma City residents to their re-branded and refurbished outlet center.
TORG purchased the 394,000-sq.-ft. property for $130 million last year, and immediately set about creating a more modern environment for its tenants, which include Banana Republic, Smashburger, Polo Ralph Lauren, Old Navy, Perry Ellis, Nike, and Michael Kors.
New paint comprises much of OKC Outlets’ new look. Additional signage will soon follow, according to TORG principal Lisa Wagner, who said the center is 90% leased.
Instead of an unveiling, OKC Outlets had an “unzipping.” The backdrop for the ceremony was a huge “before” image of the center with a zipper that was unzipped to reveal the new look.
Largest grocery-anchored REIT raises its stock price
Next door to supermarkets is place for retailers to be, think board members of the Phillips Edison Grocery Center REIT I, and they trust investors will agree.
The board raised the value of its common stock to $11, an 8% increase, due to its acquisition of the Phillips Edison Limited partnership. The 76 grocery-anchored centers that came with the deal gives Phillips Edison & Company of a total of 235 centers nationwide. The company manages over 100 more.
“The increased valuation is a reflection of the quality of our expanded real estate portfolio as well as the effectiveness of our platform when it comes to unlocking the value of real estate,” said chairman and CEO Jeff Edison, chairman and chief executive officer of the Company. “Altogether, this illustrates the strength of the grocery-anchored real estate market.”
CBRE adds two veterans to Hawaii office
CBRE has added a dynamic duo to its Hawaii office in Honolulu.
All malls and shopping centers are competing for hot restaurant chains these days, so CBRE tapped Jo McGarry Curran, a leading Hawaiian foodservice consultant, as a first VP of retail services. She is the founder of Mojo, a full-service restaurant advisory, and hosts a radio talk show in the islands called “Radio Mojo.”
Also named as first VP of retail services was Kelli Yanagawa Wilinski, who joins CBRE from Colliers International, where she handled some of the region’s most important landlord and tenant clients.
“They have a unique ability to transform dining experiences and are exceptional at place-making, taking a flat space and reimagining it as a destination,” said senior managing director Kim Lord, who oversees the Hawaii region for CBRE.