REAL ESTATE

Woodstock, Ga. -- Chattanooga, Tenn.-based CBL & Associates Properties and Norton Shores, Mich.-based Horizon Group Properties announced a 75/25 joint venture to develop The Outlet Shoppes at Atlanta in Atlanta (Woodstock), Ga.

Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp. announced the promotions of two senior VPs to partners.

Andy Bulson is responsible for the management of Mid-America’s Suburban Tenant Representation Team, representing numerous national retailers throughout the Chicagoland area. Dan Tausk oversees Mid-America’s Urban Retail Team, representing both retail landlords and tenants in urban Chicago and its neighborhoods.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced that it has executed a deal with Regal Entertainment Group to build the Regal Moorestown Mall Stadium 12 & Regal Premium Experience at Moorestown Mall, in southern N.J.

The 56,000-sq.-ft., 12-screen theatre is slated to open in time for the 2013 summer movie season.

Beachwood, Ohio -- Buyout firm The Blackstone Group and real estate investment trust DDR Corp. will buy 46 shopping centers owned by EPN Group for $1.43 billion, which includes the assumption of at least $945 million in debt.

Blackstone Real Estate Partners VII, an affiliate of Blackstone, will own 95% of the joint venture. DDR will own 5% and invest $150 million in preferred stock with a fixed dividend rate of 10%.

Roswell, Ga. -- PGA Tour Superstore plans to open a 60,000-sq.-ft. store in the Chicago area in late spring 2012, followed by an additional location in the area later in the year. The two Chicago metro stores will be the company’s first locations in the Midwest.

The first store will be located in Schaumburg at the site of the former Great Indoors store at Golf Road and Meacham Road near Woodfield Mall, the largest mall in Chicagoland. The location of the second store will be announced at a later date.

Atlanta -- Jones Lang LaSalle said it has been named as the exclusive management and leasing provider for Townline Square, a 216,000-sq.-ft. community center located in Mundelein, Ill., and anchored by Jewel-Osco.

JLL’s retail portfolio in Chicagoland has grown to more than six million sq. ft. At Townline Square, Jones Lang LaSalle will manage a redevelopment of the property, which includes façade renovations, new landscaping and signage upgrades all of which are designed to increase tenant occupancy and drive sales.

New York City -- Marcus & Millichap Real Estate Investment Services said Monday it has hired Joseph C. French Jr. to serve as a senior director of its National Retail Group. French was previously with Sperry Van Ness, where he specialized in retail property sales.

Marcus & Millichap also hired French’s team of investment specialists Thomas C. Dalzell, Schuyler Boylan and Amie Segel.
 

New York City -- Shopping centers in the United States had their first net gain in occupied space in four years amid a rise in consumer confidence and job growth, according real estate research firm Reis Inc., Bloomberg reported.

Neighborhood and community shopping shoppers saw a net increase of 3.18 million sq. ft. in the fourth quarter, the most since 10.1 million sq. ft. in the last three months of 2007.