Real Estate

New York City -- Vacancies at U.S. regional shopping malls rose to 9.4% in the third quarter (ended Sept. 30), according to property-research firm Reis, Reuters reported. It represents the highest level since Reis began publishing the data in 2000, and was up from 9.3% in the second quarter.

Landlords' asking mall rents rose to $38.81 per square foot in the third quarter, up from $38.77 in the previous three months and $38.72 a year earlier, according to Reis.

Florissant, Mo. -- Brixmor Property Group announced a 5,000-sq.-ft. lease has been executed with shoe retailer Prime Sole at Clocktower Place, located in Florissant, Mo.

Brixmor, based in New York City, is the owner of Clocktower Place.
 

New York City -- Bloomingdale’s 520,000-sq.-ft. Manhattan flagship is undergoing a 100,000-sq.-ft. renovation, Women’s Wear Daily reported, with bridge, contemporary, home, shoes, fine jewelry and parts of the designer floor included in the remodel.

The project is estimated to cost $50 million, according to Women’s Wear Daily.
 

Chattanooga, Tenn. -- TIAA-CREF and CBL & Associates Properties have announced the closing of their $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF has completed its investment in four of CBL’s market-dominant shopping malls: Oak Park Mall in Kansas City, Kan.; West County Center in St. Louis; CoolSprings Galleria in Nashville; and Pearland Town Center in Pearland, Texas.

Beachwood, Ohio -- DDR Corp. announced Friday plans to redevelop four shopping centers by adding two new Walmart stores in Florida and expanding two existing stores in Ohio and Puerto Rico.

"These projects will deliver desired growth opportunities to the world's most successful retailer and further strengthen DDR's relationship with its largest tenant," said Paul Freddo, senior executive VP leasing & development for DDR.

New York City -- Footwear designer Jean-Michel Cazabat said he will open his first U.S. store on Oct. 8 in New York City's West Village.

Sarasota, Fla. -- According to Brixmor Property Group, which owns the community shopping center, Publix is expanding from a 36,960-sq.-ft. store, open since 1972, and has redesigned and expanded in conjunction with the redevelopment of the center.

The opening of the new Publix store marks the completion of the redevelopment at Sarasota Village, which included improvements to the building façade for the retailers surrounding Publix, along with new landscaping, lighting, and an improved parking field.
 

Paraiso Town Center in the Thousand Oaks, Calif., master-planned community of Dos Vientos Ranch is being renamed The Village at Dos Vientos Ranch, announced Peter Cohen, president of Paradise Capital Group, which acquired the 50,000-sq.-ft. mixed-used retail and office complex in June 2010.

A new name was very important toward rebranding and marketing the property, said Cohen. “We wanted to give the center a fresh start with a new name that was easy to pronounce and remember,” he said.