Retail
TNP Strategic Acquires Pinehurst Square East
The 114,292-square-foot retail center was built in 2005 and is located in Bismarck, North Dakota.
Target Expands Canadian Reach
The firm has selected an initial group of sites now occupied by discount retailer Zellers Inc. In January, Zellers sold more than 200 leases to Target for approximately $1.9 billion.
RECon Coverage: Incoming ICSC Chair Offers Insights
David Henry is bullish on the future. The new International Council of Shopping Centers chairman and president & CEO of Kimco Realty Corp. sees good things coming not only for the organization, but for the retail sector as a whole.
Forest City Wins Gigs
The firm has just added nearly 2.2 million square feet to its portfolio.
Disney, Subway Expanding
Retail hasn’t exactly fully rebounded, but proving industry chatter correct, some chains have formally announced major expansion programs. Disney Store and Subway sandwich shops, riding the wave of a successful 2010, have made such commitments.
Economy Watch: California Targets Mortgage Fraud, Rooftop Solar, Chicago Fed Index
The state of California has created a 25-member mortgage fraud task force, the aim of which is to investigate all variety of shady mortgages, while a Toys ‘R Us distribution center is soon to sport the largest solar roof in the country, and the Chicago Fed National Activity Index took a dive.
Simon to Open First Premium Outlet Center in Canada
Simon Property Group Inc.’s Premium Outlets division is in growth mode, and the company has Canada in its sights. A letter of intent with Calloway Real Estate Investment Trust to develop a property in suburban Toronto paves the way for entrée into Canada.
Simon to Build First Premium Outlets in Arizona
Arizona’s very first Premium Outlets shopping center is in the works now that Simon Property Group Inc. has forged an agreement with the Gila River Indian Community’s Wild Horse Pass Development Authority. The REIT is building based on location, not demand, as the average vacancy rate in metro Phoenix is 12.4 percent.
UC Davis Near Completion on First Phase of Massive Zero Net Energy Community
Work is nearly complete on the first phase of UC Davis West Village, which the university is calling the “largest planned zero net energy community,” in the country. That means that the property will ultimately generate at least as much, and possible more power than it consumes.
Equity One, NY Common Retirement Fund Form JV
Per the agreement, the Common Retirement Fund will own a 70 percent stake in the joint venture, leaving Equity One with the remaining 30 percent, as well as management and leasing responsibilities for all shopping-center assets to be purchased.