Retail
Amstar Sells Aura Shopping Center in Novosibirsk, Russia, to RosEuro
Amstar sold one of the largest shopping centers in Russia, at four stories and 657,000 square feet, to RosEuro Development.
AIG/Lincoln Sells Retail Park in Rome for $174M
AIG/Lincoln has sold Da Vinci Market Central, a popular retail park in Rome, to funds managed by CWM Group for $174 million.
NAP Secures $126M For M-U Development in Alpharetta, Ga.
North American Properties, in a JV with Sarofim Realty Advisors, has secured 126 million in financing for Phase I of Avalon, a mixed-use development in Alpharetta, Ga.
What Vornado’s 655 Fifth Ave. Buy Means for Manhattan’s CRE
Vornado Realty Trust has grabbed another prime Fifth Avenue location just as the retail rents there are passing $3,000 per square foot, paying $278 million for a majority stake in 655 Fifth Ave., a retail and office property with 50 feet of frontage on Manhattan’s Fifth Avenue.
Blackstone, DDR Strike $332M Deal
A joint venture of retail REIT DDR Corp. and a Blackstone Group fund has acquired seven shopping centers with a total of 2.4 million square feet in major U.S. cities from a Regency Centers Corp. fund for $332 million, including $207 million of assumed mortgage debt and $28 million of new mortgage debt.
Fairway Market to be Anchor Food Market at Hudson Yards
Fairway Market has become the latest company to lease space in the South Tower of the Hudson Yards project, taking nearly 46,000 square feet on the ground floor of the first office high-rise to be built in the 28-acre mixed-use development on Manhattan’s West Side.
Chicago’s New Outlet Mall Setting a Trend
Developed by AWE Talisman and Macerich, the $250 million, 530,000-square-foot, two-level center is anchored by Bloomingdale’s The Outlet Store, Last Call by Neiman Marcus, Saks Fifth Avenue OFF 5th and Forever 21.
Chinese Developer Breaks Ground on World’s Tallest Building, Despite Skepticism Surrounding Project
One of the more puzzling high-profile development projects in recent years is reportedly still on track after China Broad Group held a groundbreaking event for its world’s tallest building plan.
Hudson’s Bay’s Saks Buy More About RE or Retailing?
When it raised the possibility of creating a REIT, assuming its proposed $2.9 billion merger with Saks Inc. goes through, Hudson’s Bay Co. also raised the question of whether the acquisition is more about the retailing or more about the real estate?
$3B Merger Saves Saks, Gives Canadian Co. Greater Growth in U.S.
Combined companies Saks Inc. and Hudson’s Bay will operate 320 stores, and possibly create a REIT.