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Simon Property, McArthurGlen form JV for European outlets
Indianpolis -- Simon Property Group and McArthurGlen Group announced an agreement to form a joint venture through which SPG will invest in McArthurGlen, the leader in upscale, European designer outlets.
Under the agreement, SPG will acquire an ownership interest in six properties and will also become a partner in McArthurGlen's property management and development company. Included assets are in Austria, Italy, the Netherlands, the United Kingdom and Canada.
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Costco sets goal of 150 new stores in five years
NEW YORK — Costco Wholesale Corp. is looking to open approximately 150 locations over the next five years, CFO Richard Galanti said on the company’s quarterly conference call with investors.
“And if we get a little better than that, great,” he added. “But that’s certainly a good starting point given where we’ve come over the last few years.”
Of the total, about 55 of the new units would be in the United States, with the rest located in Canada or foreign markets.
