REAL ESTATE

Study: Retail mall vacancies rise in Q4
New York – Retail mall vacancies slightly rose in the fourth quarter of 2014, from 7.9% in the prior quarter to 8%. According to real estate research firm Reis Inc., the closure of 200-plus Sears stores during the year drove the increase, the first recorded since the third quarter of 2011.
Marshalls to open at Mansfield Commons
Hackettstown, N.J. -- Marshalls has leased 21,675 sq. ft. at Mansfield Commons in Hackettstown, New Jersey, according to center owner National Realty & Development Corp., Purchase, New York.

The 271,980-sq.-ft. Mansfield Commons is anchored by Walmart and Kohl’s, and is located on Route 57.

TPG & PAG consortium completes acquisition of Cassidy Turley

Chicago -- Commercial real estate services firm DTZ announced that Cassidy Turley and DTZ are now operating as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.
Report: Brazil’s Track & Field to open 10 U.S. stores in 2015

New York -- Brazilian athletic wear retailer Track & Field has opened its second U.S. store, in Brentwood, California. The retailer operates 122 stores in Brazil and opened its first U.S. store, in New York, approximately four years ago. It plans to open about 10 new stores in the United States in 2015 as part of its next phase of growth, according to Women’s Wear Daily.
Nordstrom Rack to open in Lafayette, Louisiana, in 2016

Seattle -- Nordstrom plans to open a Nordstrom Rack at Ambassador Town Center in Lafayette, Louisiana.

The 25,000-sq.-ft. store is scheduled to open in spring 2016. The more than 425,000-sq.-ft. Ambassador Town Center is a joint development of Stirling Properties and CBL & Associates Properties.
Ambassador Town Center to launch construction, development over 90% leased

Lafayette, La. -- Ambassador Town Center, a joint venture between Stirling Properties and CBL and Associates Properties, will launch construction this month in Lafayette, Louisiana, on a 58-acre site at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road.
Sonic targets upstate New York

Oklahoma City – Fast food chain Sonic is heading upstate. Sonic has signed a new agreement for franchise development of eight new drive-ins in the Albany, New York area during the next seven years, with the first restaurant opening in Latham this spring.
Construction trends include increase in retail, restaurant ground-up projects

CHICAGO - Top commercial construction trends for 2015 include an increase in retail and restaurant ground-up construction and a rise in shopping mall renovations, according to national general construction firm Englewood Construction.
Mexx to close all Canadian stores,ops

Amsterdam, Netherlands – Dutch specialty fashion retailer Mexx, which operates 800 stores across 55 countries, has retained Gordon Brothers Group and Hilco Merchant Resources to begin going-out-of-business sales at all Mexx retail locations throughout Canada. Mexx currently operates 95 retail locations across Canada.
Famous faces wish Las Vegas a happy holiday season on Miracle Mile Shops' strip-side LED screens

Las Vegas - Through Dec. 31, Miracle Mile Shops at Planet Hollywood Resort & Casino is broadcasting a series of special holiday greetings from prominent Las Vegas personalities, headliners and show cast members on its LED screens at the heart of Las Vegas Boulevard.