Starwood Capital Group has retained Eastdil Secured to market multiple malls located in several US cities. The portfolio is valued at around $1.2 billion and includes regional malls located in the Chicago, Cleveland and San Francisco areas.
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Macy’s is in the midst of renovating a 200,000 square foot store at the Easton Town Center in Columbus, OH. The store remains open and will debut its new look on June 25. The redesign will serve as a test of a new store design for the Cincinnati-based department store giant.
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Speaking of Macy’s, longtime CEO Terry Lundgren will be stepping down from his post next year. Jeff Gennette, a 33-year Macy’s executive and the company’s current president, will take over.
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Six different proposals are being considered for the redevelopment of Seaport Village in San Diego. Some absolutely massive pitches are among those in the running, including a $1.4 billion submission from Oliver McMillan, and a proposed $1 billion project from Protea Waterfront Development.
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A transformative three-acre project in Los Angeles known as Pacific Palisades has been given the green light. The new development will include an outdoor shopping mall that will be made up of eight new buildings.
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The Grapevine Mills Mall in Texas will welcome a new anchor tenant next year. Fieldhouse USA, a 106,000 square foot indoor sports facility, will occupy space that previously housed a JC Penney outlet store, but has sat vacant since 2013.
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Shopswell is a new platform that hopes to integrate the worlds of shopping and social media, and will include content that is curated by the community of users. It’s currently available for the web and is shooting for an app version in the future. See more…
Investors and analysts will often call for store closings when poor performance weighs down a retailer’s stock price, but how do they determine which ones to put on the chopping block? CNBC takes a look at the complex choices some retailers have in front of them.
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