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Chicago-area report points to growth in new shopping center construction after 2012
Oakbrook, Terrace, Ill. -- A report released Monday by Mid-America Real Estate Corp. suggested that new shopping center construction in and around Chicago could ramp up significantly after this year.
According to the 2011-12 Chicagoland Shopping Center Report, with a 13.4% decrease in new shopping center GLA in Chicagoland last year, 2011will likely mark the bottom of a four-year decline in retail center construction. After a flat 2012, shopping center development could double in 2013, according to Andy Bulson, author of the report.
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Walmart and Redbox renew agreement
Oakbrook Terrace, Ill. -- Redbox Automated Retail, a division of Coinstar, announced Tuesday it has renewed its agreement with Walmart to continue featuring Redbox kiosks at more than 3,700 Walmart locations nationwide.
The agreement extends the availability of Redbox kiosks and builds upon the companies' more than five-year relationship, said Redbox.
The first Redbox kiosks were installed in Walmart stores in 2006.