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Tenant Update

  • Cabela’s misses on Q3 results, to open 13-15 stores annually going forward

    Sidney, Neb. –- Cabela’s Inc. missed Wall Street estimates for earnings and revenue in the third quarter of fiscal 2014. Net income rose 8% to $53.8 million from $49.9 million, dampened by provisions for income taxes.   The retailer said it plans to open 13-15 stores per year for the next several years.  

  • Vermont’s first Walmart Supercenter opens at Berlin Mall

    Berlin, Vt. -- The Berlin Mall, in Berlin, Vt., hosted the grand opening of the state’s first Walmart Supercenter on Wednesday. The location was previously a 65,000+-sq.-ft. Walmart store that added 26,200 sq. ft. and full-line grocery offerings to bring the retailer’s first supercenter to Vermont.  

  • Retail Properties of America receives investment grade rating from S&P

    Oak Brook, Ill. -- Retail Properties of America, Inc. announced that it was assigned a BBB-corporate credit rating from Standard and Poor’s Ratings Services with a stable outlook.    S&P indicated in its announcement that the rating reflects RPAI’s measured investment and operating strategy, and strengthening portfolio fundamentals.   

  • GBT Realty adds new retail tenants to two Louisville centers

    Louisville, Ky. -- GBT Realty Corp., a national real estate development company based in Brentwood, Tenn., is expanding tenant lineups at two Louisville-based regional shopping centers totaling nearly 500,000-sq.-ft. to over 90% leased. Only a combined 23,500-sq.-ft. of retail space remains at Jefferson Commons and at Middletown Commons with the first tenants scheduled to be open in November. Construction is currently underway.  

  • NGKF to lead retail leasing at Grand Central Terminal

    New York -- Newmark Grubb Knight Frank’s retail team has been retained by the New York Metropolitan Transportation Authority to lead the leasing of Grand Central Terminal.   

  • Saks to close store in Hackensack, N.J.

    New York -- Saks Fifth Avenue announced that it plans to close its Saks Fifth Avenue store in the Shops at Riverside in Hackensack, N.J. The store is expected to close in late 2014.   “Closing a location is never an easy business decision. At this time, we are committed to offering support and assistance to our team affected by the closing,” commented Marigay McKee, President of Saks Fifth Avenue.

  • Sears raising cash via rights offer and leasing deal with U.K. apparel retailer Primark

  • Washington Property leases to True Blue Kitchen in Bethesda center

    Bethesda, Md. -- Washington Property Company (WPC) is bringing the True Food Kitchen restaurant to its latest upscale apartment development, Solaire Bethesda. Upon opening in 2016, Solaire Bethesda’s street-level retail space will be occupied by True Food Kitchen.  
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