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Real Estate

  • Kimco asset transactions topped $1 billion in Q2

    Sales and purchases of shopping center assets at Kimco Realty Corp during the second quarter of 2016 exceeded $1 billion dollars, according to details released by the company.   The Hyde Park, New York-based Kimco sold 22 Canadian shopping centers totaling 28 million sq. ft. for $474.4 million, which included the assignment of $213.5 million of existing mortgage debt. It also disposed of 12 unencumbered U.S. properties totaling 1.5 million sq. ft. for $220.5 million.  

  • Tommy Bahama, Disney Springs, Lake Buena Vista, Florida

  • Off-price retailer continues to expand

    Nordstrom remains in expansion mode with its Nordstrom Rack division.   A 26,000-sq. ft. Nordstrom Rack is scheduled to open in spring 2017, at CityPlace, a 100-acre, master-planned development in Woodbury, Minn.   The property is owned and managed by Elion Partners, a Florida-based real estate investment firm.     

  • Now Showing: Stores in classic L.A. movie palaces

    Los Angeles’s Broadway Theater District was the first such entertainment strip to be listed on the National Register of Historic Places. Is the famed alley of theater palaces now poised to make retail history?  

  • Walmart opens new perishables facility

    Walmart grocery shoppers in North Carolina and Virginia may notice an improved assortment.   The discount giant is opening a 450,000-sq.-ft. distribution center in Mebane, North Carolina, on Wednesday, July 13. The facility, which cost nearly $100 million, will be dedicated to distributing perishables to stores in North Carolina and Virginia.  

  • Brookfield finalizes Rouse acquisition

    Brookfield Asset Management announced the completion of its deal to acquire Rouse Properties at a price of $18.25 per share.   Rouse will be merged with Brookfield’s BSREP II Retailing Pool LLC affiliate and the acquired company’s stock will be delisted from the New York Stock Exchange.  

  • RKF taps Cesar to strengthen ties with Latin America

    Alex Cesar, who had been running JLL’s retail department in Brazil, has been hired by RKF to head up its Miami office.   “Alex will be a crucial driver of our expansion in South Florida and will strengthen the bridge between the Latin American and U.S. retail markets,” said RKF CEO Robert Futterman in announcing the move.  

  • Walgreens cuts store closure estimate

    Walgreens Boots Alliance may not have to shutter as many stores in the wake of its planned merger with Rite Aid as it once thought.   
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