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Real Estate

  • VEREIT acquires Kansas center

    VEREIT’s Cole Credit Property trust has acquired a thriving, value-oriented Wichita-area center.   The 100,000-sq.-ft. Derby Marketplace in Derby, Kansas, features Ross Dress for Less, TJ Maxx, and Hobby Lobby. It is shadow-anchored by Target and Dillons Marketplace.   Mid-America Real Estate brokered the sale in cooperation with RH Johnson on behalf of the seller, a private developer.

     

  • Simon Property Group in unusual legal move against Starbucks

    The nation's largest shopping center operator is suing Starbucks Corp. over its plan to shutter the retailer's 78 Teavana stores in Simon malls.   In a lawsuit filed Aug. 21, Simon Property Group said that Starbucks is breaching its leases by closing the Teavana stores and “shirking its contractual obligations at the expense of Simon’s shopping centers and the dozens of communities they serve and support,” reported the Indianapolis Business Journal.   

  • Westfield Century City breaks into show biz

    With traditional anchors closing shop, malls nationwide are struggling to make themselves part of the entertainment business. None, however, are likely to do it as literally as Westfield’s Century City.  

  • Canada's iconic sportswear brand debuts new store concept

    Personalization is front and center in a new format from Roots.   The brand's new 5,000-sq.-ft. location, at Yorkdale Shopping Centre in Toronto, has a modern cabin-styled design and outdoorsy feel, with a different outdoor theme in every fitting room, reported the Financial Post.  

  • Amazon fulfillment center to rise on site of ‘World’s Biggest Mall’

    The Randall Park Mall outside of Cleveland was part of retail history in the mid-70’s when it debuted as “The World’s Biggest Mall.” Now the site becomes woven into the retail narrative of the 21st Century.  

  • Perfumania files Chapter 11; to close more stores

    The nation's largest discount retailer of perfumes and specialty celebrity and designer fragrances has filed for bankruptcy protection with a goal of moving its business forward — and closing more stores.    

  • Sprouts-anchored center acquired

    Riverstone Capital Group has purchased the 43,199-sq.-ft. Shops at Lexington Circle in the Atlanta suburb of Peachtree City.   Anchored by a Sprouts Farmers Market and located on the West Highway 54 retail corridor, the property offered for sale by Mirabeland Investments and Concordia Properties was not on the market long, according to the deal’s broker.  

  • L.L. Bean opens at Virginia lifestyle center

    Chains close stores, and chains open stores. Legendary cataloger and online retailer L.L. Bean is one of the latter, opening its 33rd store outside of Maine and its fourth in the state of Virginia.   This week’s debut came at The Shops at Stonefield, a 265,000-sq.-ft. lifestyle center in Charlottesville that was acquired by O’Connor Capital Partners last year.  
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