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  • Simon and CalPERS Affiliate IMI form JV to acquire two assets

    Indianapolis -- Simon Property Group and Institutional Mall Investors (the co-investment venture owned by an affiliate of Miller Capital Advisory and The California Public Employees' Retirement System [CalPERS]), on Thursday announced that they have formed a joint venture to own and operate The Shops at Mission Viejo in the Los Angeles suburb of Mission Viejo, Calif., and Woodfield Mall in the Chicago suburb of Schaumburg, Ill.

  • Full-season holiday report: Traffic down 16.4%, sales down 3.4%

    San Jose, Calif. -- A Friday report by RetailNext said that its analysis of 8.5 million shopping trips to big-box and specialty retailers in the U.S. during the 2011 and 2012 holiday seasons revealed that:

  • NRF, Amex name winners of retail challenge

    WASHINGTON — The NRF Foundation and American Express announced the winners of their fifth annual Aspire2Retail Intercollegiate Challenge. Each student will receive an educational scholarship worth $2,500.

    The contest is designed to increase understanding of diverse career paths in retail by engaging university students in a competitive, collaborative roleplay that involves implementing a multi-tiered business strategy.

  • Jones Lang LaSalle closes sale of Westdale Mall

    Cedar Rapids, Iowa -- Jones Lang LaSalle’s Capital Markets group said Thursday that it has brokered the sale of Westdale Mall in Cedar Rapids, Iowa, on behalf of Tremont Capital Corp. and Cedar Rapids Properties.

    The 743,369-sq.-ft. property is anchored by J.C. Penney and Younkers.

     

  • GGP’s warrants acquired by Brookfield affiliates

    Chicago -- General Growth Properties said Thursday it was informed by Brookfield Asset Management that affiliates of Brookfield acquired the GGP warrants held by affiliates of Pershing Square Capital Management.

    The warrants represent the right to acquire 18.43 million shares of GGP stock at a value of $0.01 per share.

    General Growth also said it has been offered by Brookfield the right to acquire the warrants, for the same price of $271.88 million paid by Brookfield, within the next 30 days.

     

  • DDR names David Oakes president

    Beachwood, Ohio -- DDR Corp. announced that senior executive VP and CFO David J. Oakes has been named president of the company, effective Jan. 1.
     
    Oakes will remain CFO, and will continue to report to CEO Daniel B. Hurwitz.
     
    Oakes joined DDR as executive VP of finance and chief investment officer in April 2007. He was promoted to senior EVP finance and chief investment officer in December 2008, and CFO in February 2010.

     

  • Greeting card publisher gets new director

    Detroit, Mich. — Greeting card publisher Avanti Press has named Kari Knowlton as its new director of business development.

    Founded by Rick Ruffner in 1980, Avanti Press publishes the Avanti and A*Press greeting card collections. The Detroit-based publisher’s everyday and seasonal card collections are carried in leading regional and national retail outlets as well as independent retail outlets throughout the United States, Canada, United Kingdom and other countries worldwide.

  • DDR acquires two power centers for $151 million

    Beachwood, Ohio -- DDR Corp. on Thursday announced the acquisition of two prime power centers for $151 million during the fourth quarter.

    DDR purchased Carolina Pavilion, located in Charlotte, N.C., from Blackstone Real Estate Partners for $106 million. The 94% leased, 852,000-sq.-ft. center is anchored by Target, Kohl's, Nordstrom Rack, Ross Dress for Less, Buybuy Baby, Bed Bath & Beyond, Jo-Ann Fabric and Craft Stores and AMC Theatres.

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