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Market Street Place to launch construction
San Francisco -- Dallas-based Cypress Equities said Monday that construction is about to begin on the site of what will become Market Street Place, a 250,000-sq.-ft. retail center scheduled to open in 2015 and co-developed by Cypress Equities and The Carlyle Group.
Market Street Place will be a six-level, urban retail redevelopment designed by Gensler’s San Francisco architectural team.
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J.C. Penney considering real estate spinoff to raise cash
New York -- A Tuesday report by Bloomberg said that J.C. Penney has an additional plan to raise money; the retailer is said to be considering a spinoff of its real-estate holdings into a new unit that could issue debt.
Citing two unidentified sources, Bloomberg said Penney is also considering selling its real estate and then leasing it back as another avenue to free up money. And other assets, such as inventory, could be collateralized.