Shopping Centers Today -> May 2004
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IN BRIEF
Valor Security
The Mills Corp. hired Valor Security Services to cover its 26 retail
properties across the country and for future U.S. developments.
Valor will hire more than 700 employees to cover the contract, which
brings the Atlanta-based firm’s security portfolio to more
than 160 malls in 34 states.
Grubb & Ellis, BRE Commercial
BRE Commercial, a San Diego-based real estate services firm, merged
with Grubb & Ellis as an affiliate. BRE represents 30 million
square feet of retail, industrial and office properties in Southern
California and has 80 employees. It has been renamed Grubb &
Ellis/BRE Commercial.
Madison Marquette
Madison Marquette obtained leasing contracts for several existing
properties and others in development across the country, owned by
a variety of developers. They include the 200,000-square-foot Shops
at River Park, a lifestyle center in Fresno, Calif., set to open
next year, and the 250,000-square-foot Lake Forest Parke Towne Center,
a community center in Lake Forest, Wash., outside Seattle.
CB Richard Ellis, Navajo Nation
The Navajo Nation, an American Indian tribe that owns 700,000 square
feet of grocery-anchored centers in Arizona, Colorado, New Mexico
and Utah, chose CB Richard Ellis to lease the space.
General Growth Properties
General Growth Properties is leasing the 1.4 million-square-foot
Dulles (Va.) Town Center, about 30 miles west of Washington,
D.C., in partnership with The Lerner Corp., one of the center’s
owners. (The other owner is Cigna Realty Investors.) |
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Simon, NBA
Simon Property Group signed deals with the Indiana Pacers and San
Antonio Spurs professional basketball teams to sell gift cards with
the franchises’ logos. The cards will be sold in Simon’s
Indianapolis- and San Antonio-area malls.
Coreland Cos.
Tustin, Calif.-based Coreland Cos., a real estate services firm,
was awarded 3.5 million square feet of new retail and residential
leasing contracts in Southern California in 2003. That includes
the 173,000-square-foot, Sam’s Club-anchored Hub, in San Bernardino,
and the 168,000-square-foot Country Hills Towne Center, in Diamond
Bar.
Mills, Habitat for Humanity
Habitat for Humanity volunteers at The Mills Corp.’s St. Louis
Mills value megamall built a 1,150-square-foot house for a family
of eight that was shipped to the St. Louis suburb of Hillsdale,
Mo. Mills donated more than 8,000 square feet of leasable space
inside the mall for eight months for the house’s completion.
New England Development
New England Development’s CambridgeSide Galleria, a 1 million-square-foot
regional mall in Cambridge, Mass., says it is trying to attract
office workers by offering free wireless Internet access in two
of the mall’s dining areas.
Charles Dunn Real Estate
Charles Dunn Real Estate Services was awarded the leasing contract
for Triangle Square Shopping Center, a 191,000-square-foot retail-entertainment
property in Costa Mesa, Calif., about 40 miles south of Los Angeles.
The Los Angeles-based firm plans to lease space to a fitness club
and to renovate the food court. Barnes & Noble and Virgin Megastore
anchor the center, which is owned by Triangle Square.
Glendale Galleria
General Growth Properties’ 1.4 million-square-foot Glendale
(Calif.) Galleria opened a new play area for children called Healthy
Habits for Healthy Living. Sponsored by the Glendale Adventist Medical
Center, the area has themes of exercise, fresh air, learning, nutrition,
sleep and vacation.
Robert K. Futterman
Wayne Towne Center Associates, the owners of the 700,000-square-foot
Wayne (N.J.) Towne Center enclosed mall, chose New York City-based
Robert K. Futterman & Associates to lease the center. Futterman
is marketing spaces of between 4,000 square feet and 80,000 square
feet at the center. Wayne Towne Center, which lies about 25 miles
northwest of New York City, is set to undergo a renovation beginning
in February and ending in 2006.
Tysons Corner
Wilmorite’s Tysons Corner Center, a 2 million-square-foot
mall in McLean, Va., is joining this year with the Arthritis
Foundation Metropolitan Washington Chapter to fight the disease.
Activities include promotional displays and a fund-raising walk. |
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Levin Management
Levin Management won a contract to lease and manage Aviation Plaza,
a 510,000-square-foot power center in Linden, N.J., about 20 miles
southwest of New York City. Home Depot, Staples and Target are among
the anchors. SSR Realty Advisors owns Aviation Plaza.
Finard & Co.
Finard & Co. won the management contract for Cowesett Corners,
a 144,264-square-foot, grocery-anchored center in Warwick, R.I.,
about 10 miles south of Providence. Crow Holdings owns the center,
which is anchored by Super Stop & Shop.
Voting machines
The Orange County (Calif.) Registrar of Voters installed voting
machines in six county malls, including Buena Park Mall and Irvine
Spectrum.
Metro Commercial
Metro Commercial Management Services won the management and leasing
contracts for two Philadelphia properties. They are 1424 Chestnut,
a 45,000-square-foot mixed-use development; and a three-level, 150,000-square-foot,
former J.C. Penney store. The Mt. Laurel, N.J.-based company manages
more than 130 retail properties in the Northeast.
Play area
Merle Hay Mall, a 1.2 million-square-foot super-regional in
Des Moines, Iowa, added a 1,875-square-foot children’s
play area and library. The space, called Kid’s Club, features
climbing areas and Iowa-themed attractions. Design firm Knight
Avanté built Kid’s Club. The mall is owned by an Iowa
limited partnership. |
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Jones Lang LaSalle
Jones Lang LaSalle took over the operation of 16 regional malls
from Chicago-based L&H Real Estate Group, bolstering its position
as one of the top three third-party shopping center management firms
in the United States. This brings to 54 the number of regional malls
the firm manages. Jones Lang also runs the retail operations at
some academic and transportation facilities, including Grand Central
Station in New York City and Union Station in Washington, D.C. The
firm now boasts a total of 26 clients, its largest number ever.
The L&H properties Jones Lang will be managing are in Florida,
Illinois, Indiana, Iowa, Ohio, Texas and Wisconsin. L&H is exiting
the management business to concentrate more on development and acquisitions,
the firm says.
General Growth Properties
General Growth Properties has joined the Amber Alert System, which
notifies the public about missing children. General Growth, owner
of 172 malls in 41 states, will post information about children
missing near any of its centers.
The Mills Corp.
The Mills Corp. says it launched two advertising campaigns spanning
26 U.S. markets to “increase the visibility” of both its
value megamalls and its traditional centers. Pedone & Partners
Advertising designed the campaigns, called “Where Great Shopping
Lives” and “More Than You’re Looking For.”
Boston Properties
Boston Properties’ five-building, mixed-use Embarcadero Center
in San Francisco will host a health forum on June 17 called Total
Wellness 2004. The program will involve health screenings, fitness
demonstrations and related events. The center is also starting a
new ad campaign this month to market the facility as an upscale
destination.
Galleria Dallas
A ball will be held at the Galleria Dallas mall on Nov. 11 to celebrate
the completion of renovations and to raise money for medical research.
The makeover includes the addition of 50,000 square feet of retail
to the 1.8 million-square-foot upscale mall, as well as new escalators
and other improvements. The Dallas Heart Ball organization is using
the occasion to raise money to establish a center for pediatric
cardiology research at the Southwestern Medical Center of the University
of Texas at Dallas. UBS Realty Investors owns Galleria Dallas, and
General Growth Properties manages it.
Springwood Real Estate Services
Springwood Real Estate Services, a York, Pa.-based property management
and development firm that focuses on Pennsylvania and Maryland,
launched a third-party brokerage and management subsidiary called
Springwood Commercial Realty.
Tanger Outlet Centers
A Tanger Outlet Centers SUV and trailer is crossing the country
this year, stopping at festivals and other events, offering discounts
at centers in 30 markets. The campaign is called the Tanger Bargain
Hunting Tour.
