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MallsNewsNorth Carolina

Macerich Acquires Crabtree Valley Mall in Raleigh for $290 Million, Plans $60 Million Capital Improvement

by Abby Cox

Raleigh, N.C. — The Macerich Co. has acquired Crabtree Valley Mall, a Class A retail property totaling approximately 1.3 million square feet in Raleigh, for $290 million. The seller was CVM Holdings LLC, according to local news outlet WRAL. The largest mall in North Carolina’s Research Triangle area, Crabtree opened in 1972 and is home to more than 200 stores and restaurants. Anchor tenants at the property include Belk and Macy’s. Additional retailers include Apple, Banana Republic, Brahmin, Brooks Brothers, Build-A-Bear Workshop, Chubbies, Coach, H&M, The LEGO Store, Michael Kors, TAG …

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"Retail Bankruptcy & Restructuring — Lessons from 2024 & What’s Ahead" panel
A&G Real Estate PartnersContent PartnersDevelopmentEconomic DevelopmentFeaturesFinanceIndustry ContentInvestment salesLeasingMallsMarketingMixed-useNet leaseOperationsRestaurantsRetailersVideosWebinar

Webinar: Retail Bankruptcy & Restructuring — Lessons from 2024 & What’s Ahead

by Sarah Daniels

The March 14 Shopping Center Business webinar “Retail Bankruptcy & Restructuring — Lessons from 2024 & What’s Ahead” covered the state of a retail industry that is both “frenetic and cautious,” in the words of Dana Telsey of Telsey Advisory Group. Tune in to the six-minute mark of the on-demand webinar for Dana’s impressive summary of the latest news in retail. Panelists covered key insights into the evolving retail landscape, including the trends for bankruptcies and liquidations in 2024 and whether those trajectories are likely to continue into 2025. Economic …

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ALDI_Northlake_Square_Tucker_Georgia
DevelopmentFeaturesMallsRestaurantsRetailers

JLL: U.S. Retail Sector Remains Optimistic as Market Conditions Shift

by Abby Cox

Chicago — Retail closures are at a cyclical high, totaling a whopping 9,900 business shutdowns in 2024, according to JLL’s fourth-quarter 2024 retail report entitled “United States Retail Market Dynamics.” For the first time in several years, store closures outpaced store openings in a calendar year. Fabric and crafts retailer JOANN, who filed for Chapter 11 bankruptcy protection twice within a year, is shuttering all 800 stores, while major department store chain Macy’s will close 150 stores over the next three years, with 66 closures anticipated in 2025 alone. The highest number …

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DevelopmentGeorgiaMallsMixed-useNews

Branch Properties Plans Mixed-Use Redevelopment of 492,798-Square-Foot Lakeshore Mall in Gainesville, Georgia

by Hayden Spiess

Gainesville, Ga. — Branch Properties has announced plans for the redevelopment of Lakeshore Mall, a 492,798-square-foot retail property located in Gainesville, roughly 55 miles northeast of Atlanta.  Plans for the mixed-use redevelopment include 305,444 square feet of retail space, as well as 652 multifamily units and 38,200 square feet of outdoor community greenspace. The property will also have the capacity for the future development of a hotel and townhomes.  Current Lakeshore Mall anchors Dick’s Sporting Goods and Belk will remain open throughout the project, with the former relocating to a new …

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FinanceMallsMichiganNews

PREIT Secures $80 Million Refinancing for Woodland Mall in Grand Rapids, Michigan

by Hayden Spiess

Grand Rapids, Mich. — PREIT has received an $80 million mortgage for the refinancing of Woodland Mall in Grand Rapids. Tenants at the recently redeveloped property include Von Maur, The Cheesecake Factory, Sephora and Urban Outfitters. According to the company, the refinancing will save PREIT roughly $5 million in interest expense over the life of the loan. JLL arranged the financing through a commercial mortgage-backed security (CMBS) lender. 

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Jonathan Lapat SRS Retail Locations Quote from article
Content PartnersDevelopmentFeaturesFinanceIndustry ContentLeasingMallsPower centersRestaurantsRetailers

Restaurants Execute Expansion Plans with Measured Approaches

by Sarah Daniels

To say that the restaurant industry is sending mixed signals could be the understatement of the year. The National Restaurant Association expected restaurant sales in 2024 to top $1 trillion for the first time ever. But as the year has progressed, the number of operators who anticipated sales growth in the coming months dipped to 28 percent in August from 40 percent in April amid inflation and economic uncertainty, according to the organization’s latest performance index survey. At the same time, the fortunes of the major restaurant segments are largely …

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Content PartnersFeaturesLeasingMallsMarketingOperationsPower centersRestaurantsRetail InsightRetailersVideos

NewMark Merrill: Harness Retail Data to Improve Customer Experience, Streamline Operations

by Sarah Daniels

  Sandy Sigal argues that the evolving fields of automation and artificial intelligence (AI) are a perfect fit for retail. “We generate the most relevant data on an everyday basis, and that data affects the outcomes and success of our centers,” explains Sigal. In a discussion on the pivotal role of technology in the retail sector, Sigal emphasizes that understanding customer behavior is paramount for shopping center owners. By leveraging technology to track customer movement and sentiment — where they come from, how long they stay, how they feel about …

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NewMark Merrill AI quote
Content PartnersFeaturesIndustry ContentLeasingMallsMarketingOperationsPower centersRetail InsightRetailers

NewMark Merrill: AI, Automation Will Benefit In-Person Retail

by Sarah Daniels

Automation is not only here to stay — it’s here to make the tasks of owning, operating, marketing and leasing a shopping center easier. That is the view of Sandy Sigal, chairman, CEO and president of Calabasas, Calif.-based NewMark Merrill Companies. “I see automation as a net positive,” he explains. “The efficiency level inside shopping centers is going to go way up. Customer satisfaction levels are going to go way up too.” Sigal envisions a future where personalization, driven by artificial intelligence (AI), transforms the shopping experience, offering tailored recommendations and …

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Learn from Industry LeadersMallsPower centersRetail InsightRetailersVideos

NewMark Merrill’s Proactive Outlook Prioritizes Placemaking

by Sarah Daniels

  Sandy Sigal believes in a holistic approach to the properties he’s acquired. He pairs tech-savvy data gathering to understand trends and opportunities with a focus on creating shopping experiences consumers crave and connection with their communities. This strategy is essential to making NewMark Merrill’s projects into successes, including the company’s latest California projects: the Rialto Village shopping center in the Inland Empire, which just completed preleasing, and the Corbin & Parthenia shopping center in the San Fernando Valley area, which is slated for renovations. Knowing your customers allows you to account for their retail needs and desires …

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Ancillary RetailEconomic DevelopmentFeaturesLearn from Industry LeadersMallsPop-Up RetailPower centersRestaurantsRetail InsightRetailersVideos

City of Glendale: Support for New Business Bolstered by Streamlining

by Sarah Daniels

  Glendale, California is home to some of Southern California’s most popular destinations and its draw for merchants, residents and visitors is undeniable. Brookfield’s Glendale Galleria and Caruso’s The Americana at Brand are two of the top shopping centers in California, iconic locations for major retailers. What can Glendale offer to make itself even more attractive for a wider range of businesses? The city is focused on streamlining permitting systems and offering a concierge service to ensure promptness, according to Bradley Calvert, director of community development for the City of Glendale.  “Typically we assign a …

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