Shopping Centers Today -> July 2004
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MILLS HEADED TO SCOTLAND?

The Mills Corp. says it is looking to build a regional mall in Scotland. The value megamall developer, which opened its first European project, Madrid Xanadú, last year, could start work on its second by late this year or early next. Mills has already said it is looking at sites in Spain and Italy, but this is its first mention of any project in Scotland. The company says it is talking with British developer Wilson Bowden, but disclosed no further details. Mills will be spending as much as $300 million on the 1 million-square-foot development, in Ravenscraig, about 20 minutes southeast of Glasgow, according to a Morgan Stanley report.

OSHKOSH LAUNCHES FAMILY STORES

OshKosh B’Gosh, a chain known for its children’s apparel, is now targeting all age groups through a chain of new stores it calls “family lifestyle” stores. The OshKosh, Wis., company has opened units in Maple Grove, Minn.; Marietta, Ga.; Southlake, Texas; and other areas. The chain plans to open 14 more by the end of this year and an additional 25 next year. OshKosh called the new concept its “primary growth vehicle” in its first-quarter financial report, released in April. The chain operates 162 stores, most of them in outlet centers. Its clothing is sold also in department and discount stores.

SONY OPENING IN U.S. MALLS

Electronics giant Sony Corp. is rolling out stores in top-end U.S. malls. So far it has opened units in Beverly Center, Los Angeles; Copley Place, Boston; Houston (Texas) Galleria; and South Coast Plaza, Costa Mesa, Calif. The company says it plans to open five more in similar centers by the end of the year. Sony has operated its own stores in Canada for about 25 years and currently has 71 units there. The 5,000-square-foot U.S. stores are meant to educate consumers about Sony products, the company says, and not to compete with the many retailers that sell Sony electronics, some of which could be in the same malls.

LEND LEASE BIDS FOR GENERAL PROPERTY

Lend Lease Corp. is seeking to create what would be the second-largest property development firm in Australia, through an A$6.6 billion ($4.6 billion) bid for General Property Trust. The two Sydney-based companies would form an entity second in size only to Westfield Group. The Lend Lease–General Property union has been valued at A$10 billion.

INLAND PAYS $350 MILLION FOR 10 CENTERS

Inland Western Retail Real Estate Trust has acquired 10 centers in separate transactions at a total cost of $350 million, continuing the steady growth of parent Inland Group of Cos. The newly acquired centers are in Arizona, Colorado, Louisiana, Michigan, Nevada, South Carolina and Texas. Oak Brook, Ill.–based Inland Group owns two other shopping center firms: Inland Retail Real Estate Trust and Inland Real Estate Corp. Inland Western, which was formed last year and buys mainly properties in the West, now has a portfolio of 27 centers totaling 4.3 million square feet and is looking to buy more. Last month Inland Real Estate Corp. began trading on the New York Stock Exchange. It owns 138 shopping centers; Inland Retail Real Estate Trust owns 270.

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