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Retail Properties of America acquires center in the Washington, D.C./Baltimore corridor
Towson, Md. -- Retail Properties of America announced it acquired Towson Square located in Towson, Maryland. The property was purchased for $39.7 million. Towson Square is a new development that opened in 2014 and is currently 96.6% occupied.
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Off-price store to make New York City debut
The off-price wars are heating up in New York City.
Saks Fifth Avenue will open its first Saks Off 5th outlet in New York City, in a 32-story office tower at 125 East 57th Street, in March 2016. The store will feature a lobby entrance at street level, which will access two lower level floors.
“The addition of a new Saks Off 5th store at this strategic location will be a dramatic game changer for 57th Street retail east of Park Avenue,” said Charles S. Cohen, president and CEO of Cohen Brothers Realty Corp., which owns the property.

