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Premium Outlets to make Canadian debut
Toronto, Ontario — Indianapolis-based Simon Property Group and Toronto-based Calloway Real Estate Investment Trust announced they will develop the first Premium Outlet Center in Canada.
The center will be located in the Town of Halton Hills, Ontario, just 15 minutes outside of Toronto. Construction is slated to start in spring 2012.
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Report: Tenuous retail recovery continues as employment gains accelerate
Chicago — A report released by Chicago-based Jones Lang LaSalle found that the retail sector is edging toward recovery driven by growth in job market, gains in corporate profits and improvements in credit markets.
According to Jones Lang LaSalle’s North America Mid-Year Retail Outlook, the environment is still not without risk as rising fuel costs and a continued weak housing market, coupled with an increasingly volatile global geopolitical climate, continue to slow retail recovery as consumers remain tentatively cautious.