Retail
Public Tiff Between Simon and GGP Continues with Statements on New $2.5B Bid
It all seemed to have started out innocently enough, with Indianapolis-headquartered Simon Property Group Inc.’s $10 billion cash offer on February 8 to buy beleaguered Chicago-based General Growth Properties Inc. But now it’s turned into a written war of words.
Hines Nabs Tenant for an Entire 112,800-SF Building at its New Office Complex in Madrid
U.S. office property owners with international portfolios have been assaulted by high vacancy rates at home and abroad, so Houston-based Hines’ latest news out of its Madrid office is no small matter.
Jones Apparel Plans Closure of 165 Stores
In a statement that categorized an 8 percent decline in fourth-quarter revenues as “anticipated and reflective of the overall economic conditions that continue to affect retail sales in general”, New York-based Jones Apparel Group announced that they will be closing 165 locations this year.
Economy Watch: Baby Steps Toward Higher Interest Rates
Is the Federal Reserve taking baby steps back to a more historically normal monetary policy? That is, toward an eventual broader hike in interest rates?
GGP to Simon: $10B Offer ‘Not Sufficient’
General Growth Properties has a message for fellow mall operator Simon Property Group: Thanks, but you’ve got competition.
Simon Makes $10B Bid for GGP
As troubled shopping-mall REIT General Growth Properties struggles to regain its footing after bankruptcy reorganization, a possible buyer has emerged in the form of fellow mall owner Simon Property Group.
Economy Watch: U.S. Retail Sales See Uptick
According to the U.S. Department of Commerce, January retail sales rose 0.5 percent compared with December and 4.7 percent compared with January 2009.
Foreign Investment Fund to Acquire $1B in U.S. Retail Properties
Elbit Plaza USA L.P., a joint venture of Tel Aviv-based Elbit Imaging Ltd. and Amsterdam-based Plaza Centers N.V., have entered into an agreement with New York City-headquartered NCH Capital Inc.’s Eastgate Property L.L.C. subsidiary to form a real estate fund that will target retail properties across the continental United States.
Inland American Makes Quartet of Acquisitions for $154M
Maryland-based REIT Inland American continues to add to its diversified portfolio. The company on Wednesday announced that it recently completed the purchase of four properties totaling approximately $154 million.
Discount Retail on the Rise
Today’s announcement that Dollar General plans to open 600 new stores nationwide underscores the strong showing that discount stores have made in today’s turbulent market.