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DDR completes redevelopment of Roswell, Ga., center
Beachwood, Ohio — DDR Corp. has announced the completion of a $12 million redevelopment project at Sandy Plains Village, a power center located in the Atlanta suburb of Roswell.
The redevelopment installed a 60,000-sq.-ft. Wal-Mart Neighborhood Market in a space formerly occupied by a traditional grocer. The new location is DDR’s 79th Wal-Mart store and the company’s eighth in the Atlanta market.
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CBRE: Demand will push rents higher in 2014
Los Angeles — Retail rents in the world’s most expensive markets will rise further in 2014 due to a shortage of available prime locations combined with a lack of new development, according to CBRE Group’s third quarter report on the world’s prime global retail markets.
Hong Kong (US$4,333 per sq. ft.) remains the world’s most expensive retail market by a substantial margin. Hong Kong houses the highest representation of luxury retailers among all global cities. With a healthy tourist market and a lack of available space.