REAL ESTATE

Chattanooga, Tenn. - CBL & Associates Properties Inc. and Horizon Group Properties Inc. have begun construction on the second phase of The Outlet Shoppes at Atlanta. The 33,000-sq.-ft. expansion is scheduled to open before the 2015 holiday season and will bring several popular retailers to the center, including Gap Outlet and Banana Republic.

Victoria Gardens will break ground on a full streetscape renovation encompassing 1.19 acres of the center along its Monet Avenue, according to Melina Ferraez, director of marketing for Victoria Gardens.

Indianapolis - In partnership with Mitsubishi Estate Co. Ltd., Simon has opened the expansion of the Shisui Premium Outlets located outside Tokyo. Shisui Premium Outlets initially opened in April 2013.

This first phase of the project opened 100% leased with 121 stores featuring a mix of international brands, Japanese brands and restaurants. The second phase, opening April 17, adds 62 new stores, including four restaurants, bringing the total store count to 183. The expansion adds 136,000-sq.-ft. of stores, bringing the total project to 375,000-sq.-ft.

New York -- Retailers with stores in Denver, San Antonio, Nashville, Fort Lauderdale and Dallas might see some strong sales in the months ahead based on a new report, which identifies those cities as the nation’s hottest housing market.

Philadelphia -- Pennsylvania Real Estate Investment Trust and The Macerich Company announced that they have reached a tentative agreement with the City of Philadelphia on a redevelopment and re-branding of the Gallery shopping mall and transit center in the heart of Center City.

Covington, La. -- Stirling Properties has added two people to its growing Asset Management division. Charles Barclay joined Stirling Properties as Assistant Asset Manager on a variety of retail and office properties in the Greater New Orleans area.

Barclay’s office is in the company’s corporate headquarters in Covington. Before moving to New Orleans, he worked for CW Capital Asset Management in Bethesda, Maryland.

Albuquerque, N.M. -- Heslin Holdings, Inc. announced the acquisition of West Central Plaza Shopping Center, a retail property located in Albuquerque, New Mexico. The firm plans to invest more than $12 million -- for both the acquisition and to redevelop and re-tenant the property -- as part of a value-add investment strategy.
 

Youngstown, Ohio -- The Picture People will open new studios in four Cafaro malls, according to the Youngstown, Ohio-based mall owner. The studios, which range in size from 1,800 sq. ft. to 2,700 sq. ft., will open by late May in Eastwood Mall (Niles, Ohio), Governor’s Square Mall (Clarksville, Tennessee), Huntington Mall (Barboursville, West Virginia) and Kentucky Oaks Mall (Paducah, Kentucky). In each case, this will be the first location for The Picture People in those respective states.