Retail
Morgan Stanley Real Estate Teams With Terranova on $342M Acquisition
Morgan Stanley Real Estate Investing, along with affiliates of Terranova, has acquired Lincoln Road assets in Miami.
Economy Watch: E-Commerce Sales, Consumer Sentiment, Industrial Production
The Census Bureau reported on Friday that U.S. e-commerce sales for the second quarter of 2014 were $75 billion, up 4.9 percent, while the University of Michigan’s index of consumer sentiment dropped 2.6 points from the beginning of the month and U.S. industrial production increased 0.4 percent in July.
MetLife Wins Bid to Purchase Prime Orlando-Area Retail Center
MetLife Inc. continues its real estate equity diversification program with the acquisition of an outdoor retail center in Kissimmee, Fla., for $116.9 million.
Clarion Sells Mexican Shopping Centers to JV Partner
Clarion Partners has sold its 50 percent interest in a 3.2 million-square-foot portfolio of Class A shopping centers in Mexico to its joint venture partner.
INTERNATIONAL: Brookfield Multiplex to Complete Final Stage of Melbourne Apartment Project
By Adriana Pop, Associate Editor Leading global contractor Brookfield Multiplex has been appointed by Far East Consortium to design and build the fourth and final stage of the massive Upper West Side residential and retail development in Melbourne’s CBD. Valued at nearly $149 million (AUD 160 million), the new 53-story building at 33 Rose Lane will provide 641 apartments, along with a large retail arcade with room for 11 tenancies, a communal swimming pool and a gym. Scheduled for completion in November 2016, the project will target a 4 Star Green Star Multi-Unit Residential V1 Design rating, under a 2009…
H&R Real Estate Investment Trust Acquires Winnipeg Center for $138.5M
H&R Real Estate Investment Trust has acquired Kildonan Place, a shopping center located in Winnipeg, for $138.5 million from a joint venture consisting of Ivanhoé Cambridge and Sears Canada.
Kimco Realty Appoints Flynn President
Conor C. Flynn has been named president of Kimco Realty Corp. in a move that sets the 11-year company veteran up to eventually take over the reins at the New Hyde Park, N.Y.-based retail REIT.
Executive Spotlight: Joshua Simon, SimonCRE
Joshua Simon launched Phoenix-based SimonCRE at age 24. Now he’s developing and redeveloping shopping centers and single-tenant build to suits in places as diverse as Detroit and Arkansas.
Dollar Tree, Family Dollar Stores Merger to Create 103 MSF of Retail Space Across U.S.
The Dollar Tree and Family Dollar Stores merger will result in a discount-store behemoth, melding Dollar Tree’s 5,080 stores spanning 48 states and five Canadian provinces with Family Dollar’s 8,200 locations across 46 states.
SL Green Trades 3 Manhattan Assets for $656M
SL Green Realty Corp. is disposing of three Manhattan assets in separate deals totaling $656 million that will generate $240 million in cash proceeds for New York City’s largest landlord.
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