Real Estate Roundup: September update
September had its fair share of retail real estate development news, tenant updates, property acquisitions and more.
Here are some of the biggest real estate news stories from the month (starting with the most recent).
- Soccer legends to descend on American Dream for exhibition match A special Legends Match soccer exhibition will take place at the East Rutherford, N.J. shopping and entertainment complex on Oct. 30, followed by meet-and-greets with the players on Oct. 31. The match will feature a lineup of soccer legends, including Sergio Goycochea, Mario Kempes, Carlos Valderrama, Juan Pablo Sorin, René Higuita and Óscar Córdoba, along with a special appearance from Maradona’s son Diego “Fernando” Maradona.
- JLL names new property management CEO Sam Schaefer has been tapped by JLL to serve as its new CEO of property management, in addition to joining the firm’s Real Estate Management Services Board. Schaefer joins JLL from real estate developer Trammell Crow Company, where he served as principal. Based in Boston, he will report to Neil Murray, global CEO of Real Estate Management Services at JLL.
- Long Beach Towne Center to undergo improvements after acquisition Retail and mixed-use developer CenterCal Properties and real estate private equity firm DRA Advisors have announced the acquisition of Long Beach Towne Center – an 870,000-sq.-ft. regional destination in Long Beach, Calif. Located off Interstate 605, the center is anchored by Walmart, Lowe’s and Sam’s Club, and hosts a number of retail, dining and entertainment tenants, including a Regal Cinemas movie theatre and a Dave & Buster’s.
- Chef-driven food hall planned for San Antonio’s River Walk The city of San Antonio plans to remake its La Villita Assembly Hall — a civic hub redesigned by the legendary Texas architect O’Neil Ford — into a top-of-the-line food hall. San Antonio-based Escalera Capital, along with Onset Hospitality, will transform this iconic San Antonio venue into the first ever food hall on the River Walk. JLL, which handles onsite leasing, played a vital role in securing the new operator.
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- Burlington and Academy Sports to fill empty Sears space at Ohio mall Academy Sports and Burlington will soon occupy much of what used to be the Sears store at Ohio Valley Mall in St. Clairsville, Ohio. Academy Sports will occupy a 56,000-sq.-ft. portion of the Sears space, while Burlington will move into a 22,000-sq.-ft. portion of the space. A Cafaro property, Ohio Valley Mall is located off Interstate 70, halfway between Pittsburgh and Columbus.
- Schaumburg's mixed-use Veridian project breaks ground Full-service real estate firm UrbanStreet Group has announced the groundbreaking of the Veridian master-planned community’s retail district, a 30-acre "urban-inspired" destination that will bring new shopping, dining and entertainment experiences to Schaumburg, Ill., a northwestern suburb of the Chicago. The first phase of the retail district at Veridian will deliver 100,000 sq. ft. of retail and restaurants, anchored by a 26,000-sq.-ft. The Fresh Market grocery store.
- RCS secures lease agreements to keep Claire's stores open RCS Real Estate Advisors will oversee Claire’s new "sustainable" store footprint. After its selection by Ames Watson, RCS secured preliminary lease agreements from hundreds of property owners across the U.S. and Canada. The company then finalized agreements for more than 800 stores, with the potential to reach 950, including key stores in California, New York, Florida, Illinois and other major markets.
- JLL to take over management at 10 open-air Sunbelt centers The firm has been selected to lead on-site property management services for 10 open-air retail centers across Florida and South Carolina. The newly added centers, recently acquired by 11North Partners and Bain Capital Real Estate, collectively span more than 1 million sq. ft. of GLA with occupancy rates exceeding 93%.
- Tanger acquires major Kansas City outlet center The North Carolina-based outlet and open-air shopping center owner and operator has acquired Legends Outlets (“Legends”), an approximately 690,000-sq.-ft. open-air outlet center in Kansas City, Kansas, that expands the company’s footprint into the state. The $130 million acquisition continues the company’s strategic external growth and is the fourth outlet center of seven total open-air shopping centers to join Tanger’s portfolio since 2022.
- New Jersey shopping center fills 62,000 sq. ft. of space this quarter When ShopRite decided to leave its previous site at the Blue Star Shopping Center in Watchung, N.J., for a larger 72,000 sq. ft. space there, operator Levin Management Corp. was left with some prime space it had to fill. Marshalls, already a tenant at Blue Star, will relocate to a 27,000-sq.-ft. space in the former ShopRite location. It will be joined there by new signee Burlington. Other new tenants at the center will be Nails Spa & Beyond in a 5,800-sq.-ft. space and Taco Bell in a 2,900-sq.-ft location.
- Cullinan Properties names chief strategy officer Cullinan Properties, developer of the 310-acre Rock Run Collection now under construction in Joliet, Ill., has hired a chief strategy officer. She is Maria Pope Toliopoulos, a long-time retail real estate veteran who rose to senior VP of leasing during a 10-year stint at Retail Properties of America, overseeing a portfolio of more than 250 operating properties and managing national account relationships.
- Placer.ai: August mall traffic flat year over year Mall traffic was muted in the month of August as consumers remained cautious of their spending. According to the Placer.ai Mall Index for August 2025, visits to indoor malls increased 0.08% compared to the previous year, while open-air mall visits decreased 0.07% and trips to outlet malls were flat (0.0%). Despite the lack of annual growth, visits to malls rebounded from June and July after a strong April and May.
