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  • Sacramento mall charted steady growth in 2016

    Arden Fair Mall in Sacramento released its annual sales report this week and verified the fact that not all traditional malls are on the endangered list.   The 1,112,000-sq.-ft. property, owned by Arden Fair Associates and managed by Macerich, showed consistent month to month growth through 2016, capped by a 10% year-over-year sales increase in December, according to the accounting.  
  • Dick’s Sporting Goods to take former Sears space at Capital City Mall

    Dick’s Sporting Goods will be relocating one of its stores in the Harrisburg, Pennsylvania, metro to space formerly inhabited by Sears at PREIT’s Capital City Mall.  
  • Dillard’s to replace Macy’s at Utah Mall

    Dillard’s has signed an agreement to move into a shuttered Macy’s store at the Layton Hills Mall in Layton, Utah, north of Salt Lake City. Construction on the 160,000-sq.-ft. site is set to begin in April, looking toward a fall 2017 opening.  
  • Lowe’s, seven others, sign on at Lake Nona

    Lowe’s has signed on as the third anchor at Lake Nona Landing, the newly opened shopping center within the 17-square-mile Lake Nona master-planned community outside of Orlando, Fla. The 158,000-sq.-ft. home improvement store joins current anchors Walmart Supercenter and Sam’s Club.   Developer Tavistock Development announced it has also executed leases for seven other retailers at the 53-acre site: TJ Maxx, Mattress One, Firehouse Subs, Anthony Jewelers, UPS, Rubio’s, and GNC.  
  • Levin named to manage two New Jersey centers

    Levin Management Corp. has been named as the exclusive managing agent for two New Jersey shopping centers — Raintree Towne Center in Freehold and Mansfield Plaza in Hackettstown.   The 134,000-sq.-ft. Raintree is anchored by a Stop & Shop supermarket and includes CVS, Starbucks, and Hallmark. It is located on Route 537 near the CentraState Medical Center and Freehold Raceway Mall.   Mansfield Plaza, a 156,000-sq.-ft. property, features a 14-screen Cinepolis complex and a ShopRite supermarket.
  • CBL acquires five Sears stores in sale-leaseback deal

    CBL has worked out sales-leaseback deals with Sears Holdings to take ownership of five Sears department stores and two Auto Centers located at company malls in the Southeast. The deal was consummated for $72.5 million.  
  • InvenTrust buys adjoining centers in Pembroke Pines

    Acquisition-minded Inventrust Properties has announced the purchase of two adjoining centers in Pembroke Pines, Florida, for a total of $163 million. Following completion of an expansion project later this year, the two will total 389,000 sq. ft.   The dominant Westfork Plaza is anchored by Costco and Regal Cinemas and includes Ross Dress for Less, T.J. Maxx, and Petco. The adjoining Paraiso Parc is a Publix- anchored center with restaurants including Firehouse Subs and necessity-based retail.  
  • Vestar acquires Dallas grocery-anchored center

    Vestar announced the close of a deal to acquire the Twin Creeks Marketplace in Allen, Texas, north of Dallas.   Opened in 2016, the 43,134-sq.-ft. center sits on five acres at the intersection of W. Exchange Parkway and Alma Drive. Tenants include Sprouts Farmers Market, Verizon, Starbucks, Advancial Credit Union, Luxe Nails, Studio Smiles, and ATI Physical Therapy.  
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