GGP Tests International Waters
Aug 4, 2004
General Growth Properties is following its peers and investing in retail properties outside U.S. borders, though at a more cautious pace than rivals Mills Corp. or Simon Property Group. The Chicago-based REIT, currently the second largest owner of U.S. retail space, announced plans this week to commit $100 million to joint ventures in Brazil and Costa Rica...
Does AMC Deal Signal A Turnaround For Movie Theaters?
Jul 28, 2004
Another blockbuster deal shows that theater chains are working their way out of a screen glut -- and that bodes well for retail property owners banking on movies to draw traffic into their properties. AMC Entertainment Inc., the second-largest U.S. theater chain, will go private. Equity firm J.P. Morgan and AMC's majority owner, Apollo Management, are buying the chain for $2 billion ...
New CEO At Jones Lang LaSalle
Jul 21, 2004
Chicago-based commercial real estate service firm Jones Lang LaSalle has hired a new CEO. Colin Dyer, 51, who is now CEO of WorldWide Retail Exchange, will become the next CEO of the 17,000-employee firm on Sept. 7. Jones Lang LaSalle manages roughly 725 million sq. ft. of commercial real estate space globally....
Taubman buys further into International Plaza
Jul 8, 2004
Taubman Centers is spending $105 million to acquire an additional 23.6 percent interest in Tampa's International Plaza...
Barney's New York For Sale?
Jul 8, 2004
In a nod to the booming luxury segment, the owners of Barney's New York are pondering a sale of the upscale department store chain. ...
Office Depot's New Prototype
Jul 8, 2004
In a stealth development program involving only a few executives, Office Depot quietly reinvented the office supplies retail model in the past year. The first of its Millennium 2 format stores, which the chains says are less expensive to open, more efficient to operate and easier to shop in, opened last week...
Performance Clothing Differentiates JCPenney
Jul 7, 2004
JCPenney is relying on performance clothing to differentiate itself from competitors...
Sears Gets Grander, To The Tune Of $621 Million
Jun 30, 2004
Sears is shelling out $621 million in cash for ownership and leasehold interests in as many as 54 Kmart stores and seven Wal-Mart stores. The Chicago-based retailer paid about $10 million per store. Most of the acquired stores are in large urban markets and will be converted to the retailer's Sears Grand model, which offers a racetrack design, centralized checkouts and a pharmacy in addition to traditional Sears merchandise such as apparel and home appliances. ...
A Slippery Slope For Wet Seal?
Jun 30, 2004
The Wet Seal Inc. could be on the verge of filing for Chapter 11 bankruptcy protection. The move could allow the chain, which includes Arden B., Zutopia and Wet Seal stores, to immediately reject leases and stop paying rent on any of its unprofitable locations. ...
ICSC's Alfred Sussman Dies
Jun 9, 2004
The man credited with turning the shopping center industry into a cohesive entity died today at age 88. Alfred Sussman, the ICSC's very first employee,...
Target Finds Buyer for Marshall Field's
Jun 9, 2004, Melody Vargas
Target Corporation has reached a definitive agreement to sell its Marshall Field's business unit to The May Department Stores Company for approximately...
New Deals for Federal, Cushman
Jun 2, 2004
Federal Realty Investment Trust is working on an institutional joint venture that will focus on A-class stabilized properties on the East and West Coasts....
Live from ICSC Spring Convention: Heard on the Floor
May 26, 2004
In a bid to "test the market," First Allied President Ed Glazer says his firm is putting 37 of its 55 properties up for sale as a single portfolio. Atlanta-based...
Heard On The Floor
May 25, 2004
Here's what our editors and reporters unearthed and overheard among the 36,000 attendees at ICSC's Spring Convention today in Las Vegas... Attendees anticipating...
Live from the ICSC Spring Convention: Heard On The Floor
May 24, 2004
You know you're at ICSC Spring Convention when you see someone standing at a urinal doing a deal on his cellphone. Here are some of the news and comments...
