Retail
South Market Slowly Moves Forward
By Eliza Theiss, Associate Editor The New Orleans Industrial Development Board is advancing discussions with developer Domain Cos. regarding possible tax abatements for South Market District, the mixed-use project planned near the Loyola Avenue Streetcar line. Domain is requesting a PILOT (or payment in lieu of taxes) of $114,000 a year for 15 years from the […]
Ashkenazy Nabs 309 KSF Shops at The Bravern in Washington State
The Shops at The Bravern, the 309,000-square-foot retail component of the 1.6 million-square-foot The Bravern mixed-use property in Bellevue, Wash., has just come under new ownership as Ashkenazy Acquisition bought the swank suburban Seattle retail center from Schnitzer West.
Glimcher Plans to Acquire Blackstone's Interest in 1 MSF Hawaii Retail Center
In a transaction valued at approximately $289.4 million, Glimcher is looking to acquire the 80 percent indirect interest in Pearlridge Center, a 1 million-square-foot shopping mall in the community of Aiea, in metropolitan Honolulu.
Regency Centers Begins Construction on 109 KSF Retail Property Near L.A.
Marking its second California development project of the year, Regency Centers has commenced construction on South Bay Village, a 109,300-square-foot neighborhood shopping center in Torrance, 19 miles outside of downtown Los Angeles. The retail property developer will invest $30 million in the project.
Shakopee City Council Approves Economic Development Incentives
By Gabriel Circiog, Associate Editor Shakopee City is set to welcome two new companies that will bring hundreds of jobs to town after the city council approved economic development incentives for SanMar Corp. and Trystar Inc., the Minneapolis / St. Paul Business Journal reports. SanMar Corp., an imprintable-clothing supplier, will invest $35 million to build […]
New Orleans Opens Libraries Worth $34M
By Eliza Theiss, Associate Editor Five state-of-the-art public libraries worth a combined $34 million are scheduled to open in The Crescent City. This will raise the number of restored Katrina-marred libraries to a total of 10. The facilities are a mix of restored buildings and brand-new facilities featuring green elements, Wi-fi hotspots, cafés, computer labs […]
Cole Acquires 270 KSF Retail Center in Michigan for $47M
Cole Real Estate Investments has made a $47 million pickup in Allen Park, Mich., located just south of Detroit. Fairlane Green, the 270,000-square-foot retail power center in the transaction, is 97 percent occupied.
Retail Retracts
While the retail sector did not fare as badly as some had feared as a result of high unemployment, fundamentals continue to founder.
Coreland to Manage 1.2 MSF of Watt Properties' California Retail
Coreland Cos.’ management responsibilities just got a lot bigger, as the company recently landed a contract to manage a 1.2 million-square-foot Southern California portfolio of neighborhood retail properties owned by Watt Properties.
Excel Trust Acquires La Costa Towne Center
By Gabriel Circiog, Associate Editor The retail-focused REIT Excel Trust has acquired La Costa Towne Centre, a retail shopping center in Carlsbad, for approximately $23.5 million. Located at 7710-7770 El Camino Real, the property has around 121,000 square feet of gross leasable space and is anchored by Vons, a division of Safeway. Although the lease […]