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Real Estate

  • Save-A-Lot to anchor Cleveland redevelopment

    Cleveland -- CenterMark Development LLC announced that Save-A-Lot Food Stores, along with the Ohio debut of discount apparel retailer Forman Mills, will anchor The Shops at Garrett Square. The 65,000-sq.-ft. project is the first phase of a neighborhood revitalization plan envisioned by city officials seven years ago, and plans call for subsequent development of up to two more retail outlots targeting much‐needed retail uses.

  • Edible Arrangements open at Kmart Plaza

    Elizabethtown, Ky. -- Brixmor Property Group announced a 1,200-sq.-ft. lease has been executed with Edible Arrangements at Kmart Plaza, located in Elizabethtown, Ky.

    New York City-based Brixmor is the owner of Kmart Plaza.

  • Two new retail leases signed for Diablo Plaza

    San Ramon, Calif. -- Jacksonville, Fla.-based Regency Centers said that two new tenants have leased space at Diablo Plaza, located in San Ramon, Calif.

    Beverages & more! leased 12,015 sq. ft. and is slated to open this fall. Another new addition, West Coast Gold Buyers, leased 1,300 sq. ft. and is now open.

    The 63,265-sq.-ft. center includes national retailers such as Safeway, CVS/pharmacy, Verizon Wireless and McDonald’s.

  • Report: U.S. mall vacancy rate at 9.4%

    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.

  • Prime Sole to open at Clocktower Place

    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.
     

  • Report: Bloomingdale’s NYC flagship undergoing renovations

    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.
     

  • TIAA-CREF and CBL close $1.09-billion JV

    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.

  • DDR and Walmart team to open, expand four stores

    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.

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