Tenant Update

Philadelphia -- Shopping center owner PREIT said that it will add several key – and some first-to-market – tenants to several of its upscale malls.  

At Cherry Hill (New Jersey) Mall, new tenants include lululemon athletica, Tumi, and e.l.f. studio; Primark will open in 2016 at Willow Grove (Pennsylvania) Park; and Garage will open at Woodland Mall, in Grand Rapids, Michigan.

Santa Monica, Calif. – Macerich Co., a California-based mall operator whose properties include Tysons Corner Center in Tysons Corner, Virginia, has rejected a hostile $22 billion takeover bid from Simon Property Group Inc. Macerich has publicly stated it thinks the deal undervalues its portfolio and growth opportunities.

"It is truly disappointing Macerich would not even meet to discuss our proposal," said Simon Property CEO David Simon. "Macerich's rejection is based on a rosy view of its future prospects."

Columbus, Ohio - Nationwide Realty Investors has announced that Nashville, Tennessee-based Dick’s Last Resort will open its first Ohio location in the Arena District in summer 2015. Dick’s Last Resort will occupy 7,300-sq.-ft. in the first floor of a building adjacent to Nationwide Arena and will include an outdoor patio with seating for more than 130 people

Boston -- Co-developers WS Development and National Development announced the openings of the first three businesses in phase two of MarketStreet Lynnfield, located in Lynnfield, Massachusetts. Tuck’s Candy Factory opened in February , followed by Hanna Andersson and Gap, scheduled to open the week of March 9.

“We have had an incredible response from the community since we opened nearly 20 months ago,” said Nanci Horn, general manager of MarketStreet Lynnfield.  

Denton, Texas -- Fashion-forward retailer H&M will open a new store at Golden Triangle Mall, in Denton, Texas. The 23,000-sq.-ft. location is slated to open fall 2015, bringing its Texas store count to 15.

Golden Triangle Mall has recently undergone a redevelopment, with new entrances and facades, center court, performance area and other enhancements. The 765,000-sq.-ft. enclosed mall is owned by GTM Development, a partnership between The McHerring Group and Cencor Realty Services, and is anchored by J.C. Penney, Dillards, Macy’s and Sears.

Virginia Beach, Va. -- DSW Shoe Warehouse will open a new store at Pembroke Mall in Virginia Beach, Virginia. The retailer will be taking 15,040 sq. ft. of an existing Sears store.

The lease negotiations were handled on behalf of the tenant by Divaris Real Estate, Inc.

DSW will open fourth quarter 2015 and will be joined by Nordstrom Rack and REI in 2016.
 
 

St. Clairsville, Ohio -- Ulta Beauty and Sincerely Yogurt will both open at Ohio Valley Mall this year. Sincerely Yogurt will debut first, opening a 1,275-sq.-ft. location late spring 2015. Ulta Beauty will open a 9,700-sq.-ft. store near Sears by early fall.  The construction of the new Ulta will introduce a new, exterior doorway providing direct access from the mall parking area.

Owned by Cafaro Company, the recently renovated Ohio Valley Mall is located on I-70, Exit 218-Mall Road, in St. Clairsville, Ohio.  
 

Paramus, N.J. -- Tuesday Morning is set to join the tenant mix at Paramus Place in Paramus, New Jersey. The retailer has leased 15,000 sq. ft. of space at the 261,000-sq.-ft. shopping center, announced Levin Management, the property’s managing and leasing agent.

Paramus Place is anchored by Kohl’s, and also features Panera Bread, Annie Sez, Modell’s, Party City, Lane Bryant, A.C. Moore and Cuts for Kids.