Malls

Simon, Taubman Revise Merger Agreement, Reduce Asking Price by $800 Million

by Alex Tostado November 16, 2020

Indianapolis and Bloomfield, Mich. — Simon Property Group and Taubman Centers Inc. have modified their merger agreement to include a new purchase price of $43 per share, enabling Simon to proceed with its acquisition of an 80 percent interest in Taubman. CNBC reports that the decline in the agreed-upon share price from $52.50 per share effectively reduces the price tag of the deal by $800 million. This announcement comes just as the two regional mall REITs were set to square off in Circuit Court for the Sixth Judicial District of Oakland …

November 16, 2020

Ancillary Retail Industry Content Leasing Malls Marketing Pop-Up Retail Webinar

Webinar: Driving Retail Income Through Specialty Leasing & Ancillary Revenue

by Sarah Daniels October 23, 2020

On October 15 Ancillary Retail hosted a webinar titled “Driving Income Through Specialty Leasing and Ancillary Revenue.” Webinar panelists shared how important it is to quickly shift strategy, not just in relation to COVID-19, but everywhere that customers and retailers are already adapting to omnichannel shopping. Events and marketing efforts are being streamlined to go virtual while also supporting those customers who are still comfortable visiting brick-and-mortar stores. Cynthia Czech shared details about Pacific Retail Capital Partners’ successful rollout of CosmeCon 2020 that included boxes for attendees to use during …

October 23, 2020

Malls New Jersey News Retailers

Triple Five Group Reopens American Dream in East Rutherford, New Jersey

by Alex Tostado October 1, 2020

East Rutherford, N.J. — Triple Five Group has reopened the American Dream shopping and entertainment destination in East Rutherford, located just outside New York City. American Dream is located in the Meadowlands Sports Complex by MetLife Stadium, home of the New York Jets and Giants and features some 3 million square feet of retail and entertainment space. According to local media reports, marquee attractions include such as the Nickelodeon Universe theme park, DreamWorks water park, Angry Birds mini-golf and an NHL-sized ice skating rink are now open under limited capacities. …

October 1, 2020

Industry Content Leasing Malls Nevada Operations Restaurants Retailers Webinar

Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector Responding to COVID-19?

by Sarah Daniels September 11, 2020

Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector responding to COVID-19? hosted by Shopping Center Business and Western Real Estate Business, covers the approaches taken by an expert panel of retail leaders responding to COVID-19. Watch Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector responding to COVID-19? to learn what retailers, restaurants, and developers need to thrive and what our panelists anticipate for retail in the near future. See a list of some topics covered below. How significantly has decreased tourism affected …

September 11, 2020

Leasing Malls Operations Restaurants Retailers Webinar

Webinar: Central Florida Retail Outlook: How are Central Florida Markets Responding to COVID-19?

by Sarah Daniels September 9, 2020

(Panelists, top, left to right): Ralph Conti, RaCo Real Estate Advisors; Cindy Schooler, SRS Real Estate Partners; Chuck Whittall, Unicorp National Developments. Shopping Center Business and Southeast Real Estate Business hosted “Central Florida Retail Outlook: How are Central Florida Markets Responding to COVID-19?” Watch to hear how the retail leaders are adapting to the challenges of COVID-19 and its fallout for tourism and travel. See a list of some topics covered below: To what extent has tourism declined in Central Florida this year — and how significantly has that affected the retail …

September 9, 2020

Industry Content Leasing Malls Marketing Michigan Operations Restaurants Retailers Webinar

Webinar: Michigan Retail Outlook: How is Michigan’s Retail Sector Responding to COVID-19?

by Sarah Daniels August 26, 2020

(Panelists, clockwise from top left) Adam Tiktin, Tiktin Real Estate Investment Services; Rod Castan, Courtelis Company; Lyle Stern, Koniver Stern Group; Philip Rosen, Becker (moderator); Duane Stiller, Woolbright Development. Shopping Center Business and Heartland Real Estate Business hosted “Michigan Retail Outlook: How is Michigan’s Retail Sector Responding to COVID-19?” Watch to hear how the industry’s most creative retail leaders are adapting both to COVID-19 and to the accelerated changes in retail exacerbated by COVID-19 has. See a list of some topics covered and their timestamps below: (05:38): How are Governor Whitmer’s …

August 26, 2020

Company news Malls News Retailers Tennessee

CBL Properties Staves Off Bankruptcy with Debt Restructuring, Loses Four Malls to Foreclosure

by Alex Tostado August 19, 2020

Chattanooga, Tenn. — CBL Properties (NYSE: CBL) announced this morning that it has struck a deal with its lenders on a restructuring plan that will eliminate $900 million in debt and reduce annual interest expense by $20 million. Although the official press release from CBL did not mention bankruptcy, a representative from the company told the Chattanooga Times Free Press that the company plans to use the Chapter 11 bankruptcy process to complete the restructuring. The announcement follows yesterday’s second-quarter earnings call, where CBL revealed that it had drawn down its entire …

August 19, 2020

July 22 Shopping Center Business and Southeast Real Estate Business Webinar

Florida Grocery-anchored Industry Content Learn from Industry Leaders Leasing Malls Marketing Operations Restaurants Retailers Videos Webinar

Webinar: South Florida Retail Outlook: What is the Impact of COVID-19 on South Florida’s Retail Sector?

by Sarah Daniels July 27, 2020

Last week, Shopping Center Business and Southeast Real Estate Business hosted “South Florida Retail Outlook: What is the Impact of COVID-19 on South Florida’s Retail Sector?” Listen as a panel of retail experts discusses their gameplans: how they are working with tenants and their employees as the industry seeks to adapt. Hear about attitudes towards loans, rent reductions, property value, next steps and more. See a list of some topics covered and their timestamps below: (07:00): How are restaurants and experiential tenants faring? (09:29) Adapting for the challenges of COVID-19 (17:28) Retail …

July 27, 2020

Malls Michigan News Retailers

Taubman Centers Reopens All Properties Across Portfolio Following Temporary Closures Due to COVID-19

by Alex Tostado July 6, 2020

Bloomfield Hills, Mich. — Taubman Centers Inc. (NYSE: TCO) has reopened all of its properties in the United States and Asia. Most U.S. centers were temporarily closed beginning March 19 in response to the COVID-19 pandemic. Bloomfield Hills-based Taubman says it has been gradually reopening centers using enhanced safety protocols in compliance with local, state and federal laws. Nearly 85 percent of stores within Taubman’s portfolio have reopened, according to Robert Taubman, chairman and CEO. Taubman’s portfolio consists of 26 super-regional and outlet shopping centers. The company is currently being …

July 6, 2020

Company news Malls Michigan News Retailers

Judge Orders Simon, Taubman to be Trial-Ready by Mid-November

by Alex Tostado June 29, 2020

Oakland County, Mich. — The dispute between Simon Property Group Inc. (NYSE: SPG) and Taubman Centers Inc. (NYSE: TCO) over a planned merger will move to a mediation phase. James Alexander, a circuit court judge with the state of Michigan, has ordered that the mediation phase be completed by July 31 and that the companies must be ready for a trial by mid-November. On Thursday, Taubman shareholders voted to approve and adopt the previously announced merger agreement dated Feb. 9 and says the company is “ready, willing and able to …

June 29, 2020

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