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JCPenney
Company newsDelawareInvestment salesMarylandNew HampshireNew JerseyNewsVirginia

Copper Property Trust Sells Seven East Coast JCPenney Stores for $65.2 Million

by Hayden Spiess

Jersey City, N.J. — Copper Property CTL Pass Through Trust has sold seven JCPenney retail locations on the East Coast in three transactions totaling $65.2 million. The assets include stores in Delaware, Maryland, New Hampshire and Virginia. The buyers were not disclosed. Copper Property is a New York common law trust that was established to acquire 160 retail properties and six warehouse distribution centers from department store chain JCPenney as part of the retailer’s Chapter 11 reorganization plan. The stores are located at the following malls and shopping centers: Christiana …

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Lauren-Holden-Jessica-Zaski
Company newsIllinoisNews

Two New Senior Real Estate Executives Join ShopCore

by Hayden Spiess

Chicago — ShopCore Properties, an affiliate of Blackstone, has named Lauren Holden as executive vice president and chief operating officer and Jessica Zaski as executive vice president and chief transactions officer. Holden joins the company from Clarion Partners, where she was head of asset management. Zaski previously served as senior vice president and co-head of acquisitions for Acadia Realty Trust. Additionally, the company will be taking on the management of 52 shopping centers for Blackstone. These grocery-anchored centers were recently acquired by Blackstone Real Estate Income Trust.

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Regal-Celebration-Pointe
Company newsNews

Regal Cinemas’ Parent Company Cineworld Group Files for Chapter 11 Bankruptcy Protection

by Katie Sloan

Brentford, U.K. — Cineworld Group, parent company to Regal Cinemas among other international theater brands, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas.  While a specific plan regarding the company’s real estate was not announced, Cineworld expects to pursue an “optimization strategy” regarding its locations across the U.S. as part of its bankruptcy proceedings. The company is engaging in discussions with its landlords on improving cinema lease terms in hopes of further positioning Cineworld for long-term growth in the U.S., the …

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Sprouts_Shoppes-Webb-Gin_Snellville-Atlanta
Company newsMinnesotaNewsOklahoma

Northmarq Agrees to Acquire Commercial Real Estate Brokerage Stan Johnson Co.

by Katie Sloan

Minneapolis and Tulsa, Okla. — Commercial real estate capital markets platform Northmarq has agreed to acquire Stan Johnson Co., a Tulsa-based real estate brokerage and advisory firm, for an undisclosed price. The acquisition will include Stan Johnson’s affiliated debt services company, Four Pillars Capital Markets. Minneapolis-based Northmarq offers commercial real estate investors access to experts in debt, equity, investment sales and loan servicing. The company boasts an annual transaction volume of $33 billion and has 22 investment sales offices across 13 states. Stan Johnson Co. has closed nearly 7,500 transactions exceeding $45 …

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bed-bath-beyond
Company newsNew JerseyNews

Bed Bath & Beyond to Close 150 Stores, Cut Staff, Restructure Debt

by Katie Sloan

Union, N.J. — Bed Bath & Beyond Inc. (NASDAQ: BBBY) announced this morning that it will close approximately 150 of its lower-producing stores across the country. The Union-based home goods retailer also revealed that it is cutting its workforce by about 20 percent across its corporate and supply chain staff. Additionally, the company has secured more than $500 million in new financing, including the expansion of an existing credit line and a new $375 million loan. Bed Bath & Beyond says that these moves are in effort to meet demand of …

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La-Centerra
Company newsIllinoisNewsTennessee

JLL, Poag Shopping Centers Enter Partnership to Acquire, Redevelop Mixed-Use Assets

by Katie Sloan

Chicago and Memphis Tenn. — Chicago-based JLL has entered into a strategic partnership with Memphis, Tennessee-based Poag Shopping Centers to acquire and redevelop mixed-use assets. Poag will provide development and redevelopment services for JLL-managed centers across the U.S., while JLL will provide management and operational services to Poag’s 10 open-air lifestyle centers. Poag will partner with JLL on its existing pipeline of redevelopment work and intends to grow this platform as more malls and open-air centers are revamped for today’s changing retail environment. Poag will also work with JLL to answer …

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Ann-Smith
Company newsIllinoisNews

Ann Smith Joins Cullinan Properties as Senior Vice President, Director of Leasing and Marketing

by Katie Sloan

East Peoria, Ill. — Cullinan Properties has hired Ann Smith as senior vice president and director of leasing and marketing. In her new role, Smith will direct all aspects of the East Peoria, Illinois-based company’s leasing and marketing, including lease negotiations, portfolio merchandising, tenant relationships, marketing efforts and corporate branding strategy. Prior to joining Cullinan, Smith spent 18 years in various leasing and tenant coordination roles at Retail Properties of America (RPAI) and Kite Property Group. “We’re excited for Ann to join Cullinan Properties as she brings unmatched leasing experience and …

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AlabamaCompany newsNewsTexas

Real Estate Investment Firm Centennial Acquires Operating Platform of Bayer Properties

by Katie Sloan

Dallas and Birmingham, Ala. — Dallas-based real estate investment firm Centennial has acquired the operating platform of Birmingham-based Bayer Properties. Bayer’s management portfolio includes nearly 8 million square feet of open-air fashion, power and neighborhood retail centers, as well as mixed-use properties. The combined organization will utilize the Centennial name and the company’s headquarters will remain in Dallas. Bayer’s Birmingham headquarters will remain operational and will become a regional office for Centennial. Bayer’s president, Jami Wadkins, will join Centennial as Chief Operating Officer immediately upon acquisition. “Centennial’s current portfolio consists primarily …

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Macy's Toys "R" Us
Company newsNew YorkNews

Toys “R” Us to Open In-Store Shops at Macy’s Locations Across the US

by Katie Sloan

New York City — Macy’s has announced a partnership with WHP Global to open Toys “R” Us in-store shops within all of its locations across the U.S. Toys “R” Us stores will range from 1,000 to 10,000 square feet and are set to open from late July through October 15.  Each location will feature colorful fixtures, demonstration tables for customers to interact with toys, and a “Geoffrey on a Bench” photo opportunity for families. The in-store shops may also grow by an additional 500 to 3,000 square feet during the …

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Sephora
Company newsNewsRetailersWisconsin

Kohl’s Bets on Brick-and-Mortar with Plans to Open 100 Smaller-Format Stores, Revitalize Existing Locations

by Katie Sloan

Menomonee, Wis. — Kohl’s (NYSE: KSS) has announced plans to increase its investment in brick-and-mortar with the addition of 100 new, smaller-format locations over the next four years in previously untapped markets.  This expansion follows the pilot of 20 stores featuring the company’s smaller-format design, which averages around 35,000 square feet versus the traditional 80,000-square-foot iteration. In June, the Menomonee-based company will be opening a smaller-format shop in Bonney Lake, Washington, and in the fall, stores are set to open in San Angelo, Texas; Morgantown, West Virginia; Tacoma, Washington; and Lenox, …

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