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Tenant Update

  • Wet Seal defaults on $29 million

    Foothill Ranch, Calif. – Teen retailer Wet Seal Inc. has defaulted on a total of $28.8 million in senior convertible notes and related costs. In a regulatory filing, the struggling retailer  said it received notice of default on $27 million in notes from creditor Hudson Bay Master Fund Ltd., plus costs including attorneys’ fees and disbursements.

    Wet Seal has reached a two-week forbearance agreement with the fund, giving it until Jan. 12 to pay off the debt.

  • Mid-America names principals, senior VPs

    Oakbrook Terrace, Illinois - Mid-America Real Estate Corporation recently announced the promotions of two employees to Principals and two employees to Senior VPs.   Joe Girardi is a member of Mid-America’s Shopping Center Investment Sales team, and has been promoted to a Principal of Mid-America Real Estate Corporation. He has been with Mid-America since 2003, and has been directly involved in the completion of over $2 billion of retail investment sale transactions.   

  • Jeweler Charles Krypell to open on Long Island

    North Shore, Long Island, New York - Faith Hope Consolo, chairman, and Joseph Aquino, executive VP, of Douglas Elliman's Retail Group are the exclusive leasing and marketing team for the newly named Krypell Plaza at 15 Northern Boulevard, a two-building retail center being completed at the corner of Glen Cove Road.  The center will be anchored by international jewelry designer Charles Krypell in a multi-level location.  

  • New York City to open its first outlet center in 2016

    New York - New York City’s first outlet center is expected to transform the Staten Island waterfront when it opens in 2016 adjacent to the 630-ft.-high New York observation wheel on the New York Harbor.

  • Wells Fargo celebrates grand opening at 120 Ninth Avenue

    New York - Stonehenge Partners announced that Wells Fargo has officially opened its 1,375-sq.-ft. space at 120 Ninth Avenue. Wells Fargo is the first tenant to take occupancy at the retail property, which offers almost an entire block of frontage on 9th Avenue between 17th and 18th streets.  

  • Olshan Properties names Matthew Winn COO

    New York - Olshan Properties announced that Matthew B. Winn will join the firm effective January 2015 as COO.  Reporting directly to CEO Andrea Olshan and working closely with her executive team on the overall management of the company, Winn will be responsible for leading the firm’s daily operations and refining its operating policies, procedures, and processes. He will also focus on ensuring growth of the company’s platform as well as work to enhance its operational efficiency.   

  • Simon announces plans to build Tulsa Premium Outlets

    Tulsa, Oklahoma - Simon announced plans to bring Tulsa Premium Outlets to northeast Oklahoma. The project will be built in two phases at the intersection of US Highway 75 and West 61st Street in Tulsa. The first phase of the build out will be approximately 318,000 sq. ft. and an additional 82,000 sq. ft. will make up the second phase for a total of 400,000 sq. ft.  

  • DLC Management announces 2.6-million-sq.-ft. portfolio acquisition

    Tarrytown, New York - DLC Management Corporation announced its latest acquisition of 11 retail assets in New York, North Carolina, Arkansas and Tennessee totaling 2.58 million sq. ft., of which 1.73 million sq. ft. is owned property.   According to DLC, this acquisition is the largest in its history. The The properties include:  
    • 2015 Walden Avenue, 26,500 sq. ft. – Cheektowaga, New York
    • Batavia Commons, 49,431 sq. ft. – Batavia, New York
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