Tenant Update

Columbus, Ohio -- Washington Prime Group announced Tuesday it will acquire shopping center REIT Glimcher Realty Trust in a deal worth $4.3 billion.

Washington Prime Group, a Bethesda, Maryland-based REIT, and Glimcher will combine under a new name WP Glimcher, with headquarters remaining in the current Glimcher offices in Columbus, Ohio.

The newly combined company will remain publicly traded.

York, Pa. - The Bon-Ton Stores, Inc. will close its Carson’s Fox Valley Furniture Gallery in the Heritage Square Shopping Center in Naperville, Illinois. The company will not renew its lease, which terminates Jan. 31, 2015.

Leading shopping center owner and operator DDR Corp. announced that CEO Daniel B. Hurwitz and the board of directors have decided not to renew his employment agreement, which expires December 31, 2015. It is anticipated that Hurwitz will remain CEO through 2015 to ensure a smooth leadership transition.

Beachwood, Ohio -- DDR Corp. announced that CEO Daniel B. Hurwitz will be leaving the company next year, as he and the board agreed not to renew his employment agreement, which expires December 31, 2015.

According to DDR, Hurwitz is expected to remain CEO through 2015 to facilitate a smooth leadership transition.

Hurwitz was named CEO on January 1, 2010, after serving as the company’s president and COO for two years prior. He has worked for DDR in various senior executive capacities since June 1999.

New York - Amy Zhen has joined real estate services provider JLL and will serve as a senior VP working on the team lead by vice chairman Bob Gibson. Zhen is tasked with developing and executing leasing strategies for the firm’s retail investor and owner clients’ assets.

Indianapolis — JLL’s Retail Group has been retained to lease and manage Washington Square Mall in Indianapolis. The property’s tenant mix includes more than 80 national, regional and local retailers, and is anchored by Sears, Dick’s Sporting Goods, Target and Burlington Coat Factory.

The nearly one-million-square-foot regional shopping mall was built in 1974 and underwent a comprehensive renovation in 1999. Regional manager Rick Vita is leading the JLL team on this assignment.

North Plainfield, N.J. — David Reiner has joined retail real estate services firm Levin Management as VP of leasing. Most recently, Reiner served as director of real estate for Body Central Stores Inc.

During the past 25 years, he has also has held executive- and management-level retail leasing positions with property owners such as Urban Retail Properties, Colonial Properties Trust, and Simon Property Group.
 

NEW YORK — 18 | 8 Fine Men's Salons has leased its first New Jersey locations in Somerset and Essex Counties. Winick Realty Group New Jersey broker Alison Cohen, the exclusive broker for 18|8 Fine Men's Salons in New Jersey, represented the salon in both transactions.