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GGP, Kimco form JV to redevelop Owings Mills Mall
Owings Mills, Md. -- Chicago-based General Growth Properties and Hyde Park, N.Y.-based Kimco Realty Corp. said Thursday that the two companies have formed a joint venture partnership to redevelop Owings Mills Mall, Md.
The new JV gives each company 50% interest in the 25-year-old, 1 million-sq.-ft. mall; GGP previously owned 100%.
"We're exploring a number of options to revive Owings Mills Mall and provide the shoppers of northwest Baltimore County a more viable center that meets their needs,” said Shobi Khan, COO, GGP.
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Body Central Corp. profit doubles in Q3, on track to open 33 new stores
Jacksonville, Fla. -- Body Central Corp., which operates under the Body Central and Body Shop banners, reported Friday that net income for the third quarter more than doubled to $2.8 million, from $1.3 million a year earlier.
Total revenue rose 18% to $67.1 million, compared with $56.9 million a year ago. Results were boosted by a 21.2% increase in store sales. Same-store sales rose 8.2%.
The company opened five new stores during the third quarter and is on track to open 33 new stores in 2011.