Logansport, Ind. — Park Development has unveiled plans to redevelop the vacant Logansport Mall in central Indiana into an open-air retail center named The Junction. Built in 1968, the mall has sat largely vacant for the past decade. Design plans
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Arcadia, Calif. — Unibail-Rodamco-Westfield (URW) has sold Westfield Santa Anita, a 1.5 million-square-foot regional mall located roughly 15 miles northeast of Los Angeles in Arcadia, for $537.5 million. The transaction represents the largest price paid for a regional mall in the U.S.
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Cherry Hill, N.J. — Pennsylvania Real Estate Investment Trust (PREIT) has welcomed several new tenants to Cherry Hill Mall in metro Philadelphia. Apparel brands Psycho Bunny and Levi’s have signed leases for 2,390 and 3,000 square feet with plans to open
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Paramus, N.J. — Unibail-Rodamco-Westfield (URW), a shopping center owner-operator based in France, has unveiled plans to redevelop Westfield Garden State Plaza, a 2.1 million-square-foot regional mall in the Northern New Jersey community of Paramus. According to Forbes, Westfield Garden State Plaza
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Shopping center developers, owners and managers are using property technology (prop tech) to make sense of a wealth of new, retail-generated data to create an ongoing, positive experience for customers. Sandy Sigal, president and CEO of NewMark Merrill, explains that geofencing and phone
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The popularity of property technology (prop tech) has expanded rapidly as retail owners and operators look for chances to streamline and improve their properties via data collection. However, says Sandy Sigal, president and CEO of NewMark Merrill, the hardest part
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Cumming, Ga. — Franklin Street has arranged a 20,388-square-foot lease with Burlington at Cumming Town Center, a 311,396-square-foot shopping center in Cumming, about 35 miles north of Atlanta. Sam Kreuger and Kaitlyn Theriot of Franklin Street represented the landlord, Site Centers,
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“Retail has one very serious advantage as an asset class — it provides a lot of data. However, very few people actually look at the data,” says Sandy Sigal, president and CEO of NewMark Merrill. Historically, gathering data required landlords
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Retail, when it really boils down to it, is dictated by the almighty dollar. This, of course, means those who hold those dollars are in control. Consumers have been on quite the wild ride over the past 16 months, and
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Alpharetta, Ga. — Trademark Property Co. will oversee the redevelopment of North Point Mall in Alpharetta. According to several media outlets, the previous owner, Brookfield Properties, relinquished ownership back to New York Life Insurance Co. earlier this month. Trademark will
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Lynchburg, Va. — Liberty University will redevelop the West End of River Ridge, a university-owned mall, less than one mile from campus. The university will demolish the Macy’s building in the first quarter of this year and plans to turn
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Indianapolis — Simon Property Group Inc. has completed its acquisition of an 80 percent ownership interest in The Taubman Realty Group Limited Partnership (TRG) for approximately $3.4 billion. Under the terms of the transaction, Simon, through its operating partnership, Simon
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