REAL ESTATE

Target’s unusual new partner has cult-like following
Target Corp.’s newest partner is a cycling studio chain knows for its high-intensity (and pricey) workouts and devoted, cult-like following.

The retailer has teamed up with SoulCycle to launch a 10-city tour that will offer special three-day weekend events in select markets with complimentary classes taught by certified SoulCycle instructors.
Rouse boosts operating metrics and social customer experience in California
Redding, Calif. -- Rouse Properties announced it has significantly improved key operating metrics at Mt. Shasta Mall located in Redding, California, through execution of its leasing strategy with prominent national and regional retailers, as well cosmetic enhancements to the interior and exterior of the mall.

Growing portfolio and strategic successes Mark 2015 for Sembler

St. Petersburg, Fla. -- The Sembler Company added 420,000 sq. ft. of new acquisitions to its portfolio in 2015, in addition to breaking ground on three new shopping centers and inking deals for three more – all while maintaining more than 95% portfolio occupancy.
Mid-America secures three new retail leases at Orland Park Crossing

Oakbrook Terrace, Ill. -- Mid-America Asset Management announced that the firm recently secured three new retail leases on behalf of Orland Park Crossing located in Orland Park, Illinois. Orland Park Crossing is a 107,371-sq. ft. lifestyle center featuring tenants White House | Black Market, Talbots, Charles Schwab, Ann Taylor, Charming Charlie and more.
Major Renovations completed at Goshen Plaza

Gaithersburg, Md. -- Elion Partners announced it has completed capital improvements for Goshen Plaza in Gaithersburg, Maryland. The 45,654 sq. ft., CVS-anchored shopping center has undergone upgrades to its exterior, landscaping and parking lots.

“Our goal is to increase visibility and enhance the customer’s experience while at Goshen Plaza,” said Juan DeAngulo, managing principal, Elion Partners. “The capital improvement project ensures Goshen Plaza will remain a top community destination for years to come.
PREIT announces Ron Rubin will step down as executive chairman

Philadelphia -- PREIT announced that Ron Rubin will step down as the company's executive chairman, a role he's held since 2012, effective June 7, 2016. Rubin will continue in his role as chairman of the board.
Taubman and Macerich to Acquire Country Club Plaza

Kansas City, Mo. -- Taubman Centers and The Macerich Company announced an agreement to purchase Country Club Plaza located in Kansas City, Missouri, from Highwoods Properties. Taubman and Macerich will each have a 50% interest in the center, which will be jointly managed by both companies. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Concurrent with or shortly after closing, a long-term, fixed-rate loan for 50%-60% of the purchase price is expected to be placed on the asset.
CBRE hires international urban and high street retail expert

Los Angeles -- CBRE Group announced that Andrew Turf, a high street luxury retail real estate expert, will join the company’s Retail Services team as senior VP. Turf will also act as tenant representative on the West Coast and beyond and collaborate with capital markets teams on a variety of real estate projects.
Kimco appoints new CEO to its board of directors

New Hyde Park, N.Y. -- Kimco Realty Corp. announced that Conor C. Flynn, president and CEO, has been appointed to the company’s board of directors effective January 1, 2016, simultaneous with his elevation to the CEO role. Flynn succeeds David B. Henry who retired as vice chairman of the board of directors and CEO on January 1, 2016.
X Team partners complete sale-leaseback transactions for three Melrose Family Fashions locations

Salt Lake City -- X Team International, an international alliance of retail real estate advisors, announced that partners Mountain West Retail and Investment, Dunbar Commercial and Endeavor Real Estate Group, completed three sale-leaseback transactions to Capview Partners for Melrose Family Fashions totaling 32,160 sq. ft. The Melrose Family Fashions stores included in the transaction are located in three Texas cities: Laredo, Odessa and Rio Grande City.