Two CB Richard Ellis Brokers Jump To Cushman
Nov 3, 2004, By David Bodamer
C. Bradley Mendelson and David A. Green, two veteran retail brokers, are moving from CB Richard Ellis Inc. to Cushman & Wakefield Inc. Mendelson, who started at Insignia/ESG in 1997, became an executive vice president for CB Richard Ellis when those two firms merged last year. Green started at Insignia/ESG in 1991. They were co-recipients of the Real Estate Board of New York's Most Creative Retail Deal in 2000 for the 105,000-square-foot Toys 'R' Us store in Times Square ...
Accruent Acquires Competitor Tequila
Oct 29, 2004
Accruent, a developer of contract management software for retailers, acquired competitor Tequila software Oct. 25 for an undisclosed amount, according to Accruent CEO Mark Friedman. The deal will officially be announced at the National Retail Tenant Association’s trade show in Fort Lauderdale starting Oct. 31....
Gas Prices Putting a Crimp on Discount Retailers
Oct 27, 2004, By David Koch
Car owners aren't the only ones carefully watching high gas prices. Market analysts who cover discount retail stores are also keeping a sharp lookout on creeping costs at the pump. With crude oil approaching $53 on the Nymex, the sentiment on Wall Street is that higher gas prices are hurting discount retailers as lower-income customers get squeezed...
REITS Catch a Break From Congress
Oct 20, 2004, By David Bodamer
REIT managers' jobs will get a little bit easier thanks to provisions that were tacked onto the American Jobs Creation Act of 2004 that both the House and Senate passed last week. Most significantly, REITs will be able to avoid the fate that almost befell Pennsylvania REIT earlier this year when the mall owner nearly forfeited its REIT status due to a minor accounting mistake ...
Feeling the Pinch: Wal-Mart's expansion could hurt supermarkets
Oct 6, 2004, By David Koch
With a 55 million-square-foot expansion announced, Wal-Mart is set to squeeze supermarkets further. Stores in strip malls have plenty to worry about with the world's largest retailer's plans renovation and expansion of existing stores and the addition of about 125 to 185 stores nationwide, according to industry watchers ...
Merry Christmas? Probably Not
Sep 30, 2004, By David Koch
The year 2004 may end with a whimper, not a bang, for retailers. Following a disappointing back-to-school season and tepid summer sales, most industry watchers expect holiday sales growth well below last year's 5.1 percent. Projections vary widely -- 3 percent to 6.5 percent growth, with high gas prices cutting discretionary spending at the one end of projections but growing housing starts encouraging home furnishings sales at the other ...
Gap Creates New Store for Older Women
Sep 15, 2004
First, it was Sarah Jessica Parker as Gap's new poster girl. Now, Gap Inc. is trying to win over Baby Boomer women with style at affordable prices. The company announced today it is developing a new chain of specialty apparel stores geared toward women over 35. Gap said it would build 10 new brand stores in two locations by late 2005 ...
Caruso Wins First Round of Mall Wars
Sep 15, 2004
The outdoor lifestyle center has defeated the enclosed mall-at least in Glendale, Calif. On Tuesday night, voters in the southern California city narrowly approved three measures that would allow renowned developer Rick Caruso to build his $264 million Americana at Brand outdoor mall ...
August retail hampered by slow economy
Sep 1, 2004
Consumer confidence took an unexpected dip -- attributed to concerns over job growth -- and on the heels of data from Wal-Mart and elsewhere in retail-land that point to more shopper anxiety ahead. So, are we setting up for a weak fourth quarter ...
General Growth Drops $12 Billion On Rouse
Aug 25, 2004, By Curt Hazlett
Even in a season of big deals, General Growth's $12 billion acquisition of Rouse stands out. One clear reason is price. General Growth agreed to pay $67.50 a share for the Columbia, Md.-based Rouse, a 33 percent premium over the REIT's previous close, and also agreed to assume $5.4 billion in Rouse debt ...
Retail Braves the Wrath of Hurricane Charley
Aug 18, 2004
Approximately 46 million square feet of retail space is located in the Florida counties that were beaten and battered by hurricane Charley and tropical storm Bonnie ...
Mills To Pay $1.3 Billion For GM Pension Trust Portfolio
Aug 11, 2004
Mills Corp. is paying $1.3 billion for full interests in three B-class malls and 50 percent interests in five A-Class malls controlled by General Motors Pension Trust, according to Citigroup Smith Barney analyst Jonathan Litt...
GGP Tests International Waters
Aug 4, 2004
General Growth Properties is following its peers and investing in retail properties outside U.S. borders, though at a more cautious pace than rivals Mills Corp. or Simon Property Group. The Chicago-based REIT, currently the second largest owner of U.S. retail space, announced plans this week to commit $100 million to joint ventures in Brazil and Costa Rica...
Does AMC Deal Signal A Turnaround For Movie Theaters?
Jul 28, 2004
Another blockbuster deal shows that theater chains are working their way out of a screen glut -- and that bodes well for retail property owners banking on movies to draw traffic into their properties. AMC Entertainment Inc., the second-largest U.S. theater chain, will go private. Equity firm J.P. Morgan and AMC's majority owner, Apollo Management, are buying the chain for $2 billion ...
New CEO At Jones Lang LaSalle
Jul 21, 2004
Chicago-based commercial real estate service firm Jones Lang LaSalle has hired a new CEO. Colin Dyer, 51, who is now CEO of WorldWide Retail Exchange, will become the next CEO of the 17,000-employee firm on Sept. 7. Jones Lang LaSalle manages roughly 725 million sq. ft. of commercial real estate space globally....
