Atlanta — Mark Toro, who formerly led North American Properties’ (NAP) Atlanta division, is launching Toro Development Co. This company will be aimed at acquiring outdated sites such as dead malls and transforming them into better mixed-use properties. The firm
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Indianapolis and Chicago — Kite Realty Group Trust (NYSE: KRG) and Retail Properties of America (NYSE: RPAI) have entered into a merger agreement valued at $7.5 billion that will create a new shopping center REIT with a portfolio of 185
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Cincinnati — Phillips Edison & Co. Inc. (PECO), an internally managed REIT, has filed a registration statement with the Securities and Exchange Commission to offer 17 million shares of its common stock to the public. The Cincinnati-based shopping center owner
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Deerfield, Ill. — Walgreens Boots Alliance Inc. (NASDAQ: WBA), the company behind pharmacy retailers Walgreens and Duane Reade, predicts a 10 percent increase in adjusted earnings per share this fiscal year. The Deerfield, Illinois-based firm’s new CEO, Roz Brewer, says
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New York, N.Y. — ShopOne Centers REIT Inc. has appointed Michael Makinen to the position of chief operating officer. In his new position, Makinen will be responsible for overseeing the New York City-based company’s operations and financial performance, including the
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San Diego, Calif. — Newmark Merrill Cos. has hired Barret Bradley as vice president of acquisitions and development for the company’s San Diego division. In his new role, Bradley will be responsible for sourcing and overseeing the acquisition of existing
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Birmingham, Ala. — The Retail Brokers Network (RBN) has selected Bryan Holt as president. In his new role, Holt will be responsible for helping grow the organization’s brand, representing RBN at industry-related events, recruiting new brokerage offices and facilitating education,
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Columbus, Ohio — Washington Prime Group (NYSE: WPG), an Ohio-based owner-operator of regional malls and shopping centers, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. WPG cited insurmountable operating challenges tied
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Los Angeles — Soccer team Paris Saint-Germain (PSG) has opened a permanent retail store within Westfield Century City Mall in Los Angeles in partnership with apparel retailer Fanatics. The sports club is expanding its global retail presence with plans to
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San Francisco — Gap Inc. (NYSE: GPS), the parent company of Old Navy, Gap, Banana Republic and Athleta, released its first-quarter 2021 fiscal report showing net sales reached $4 billion, up 8 percent from 2019. Additionally, comparable sales were up
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New York City — HSBC Holdings has announced plans to exit its U.S. mass-market retail banking business through the sale of 90 of its 148 domestic branches. HSBC will retain 20 to 25 of its existing physical locations in the
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Baltimore — Athletic apparel giant Under Armour Inc. (NYSE: UA) has reported $1.3 billion in sales in its fiscal first quarter of 2021, a 35 percent jump from last year’s first-quarter sales. The Baltimore-based company’s fiscal first quarter ended on
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