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BRIEFLY NOTED

Floyd KOs Concord

After barreling up the East Coast, closing shopping centers for brief periods, Hurricane Floyd caused other problems: a delay of the grand opening of Concord Mills, the 1.4 million-square-foot value megamall located 10 miles north of Charlotte, N.C. Originally set to make its debut Sept. 16, the opening was pushed back a day after news that the storm would make land at Wilmington, N.C. The chief concern: Flying debris from the storm would hurt shoppers and staff, said a spokeswoman for The Mills Corp., Arlington, Va. The center opened as rescheduled, on Sept. 17.

Crown American Realty Trust downsizes

In a move expected to improve ongoing cash flow by $2 million per year, Crown American Realty Trust will eliminate approximately 12% of corporate office staff, the Johnston, Pa.-based firm said in September. Twenty corporate office and three field staff positions are being terminated as a result of the completion of the redevelopments of Valley Mall in Hagerstown, Md., and the Washington (Pa.) Crown Center.

Supermarket mergers raise questions

The consolidation of the supermarket industry both in the United States and Europe may not go as smoothly as participants may like. At press time, there was a possibility that Royal Ahold's acquisition of Pathmark Stores would be blocked due to antitrust concerns, said The Wall Street Journal, citing unnamed sources close to the deal. Meanwhile, British retail trade magazine Retail Week reported that the Carrefour/Promodès merger, which would create Europe's largest retailer, might face similar problems with European Commission officials. The combined entity would have 25% of the grocery business in Spain, and up to 50% of the market in parts of France.

A century of Golden State real estate

Okay, so it's not a millennium issue, but California doesn't have 1,000 years of real estate development history. California Real Estate, the official magazine of the California Association of Realtors (CAR), will publish "100 Years of Real Estate" next month. "Less than a century ago real estate was bought and sold with nothing more than a vague property description scribbled on a crumpled paper napkin, a handshake and a smile — a far cry from the standard forms, termite inspections and disclosure reports of today," said Diana Bull, CAR president. "This commemorative issue will cover everything from the evolution of the Golden State to the enormous impact the real estate industry has had on it."

Flying high in the Windy City

It's getting pricier to open a store in downtown Chicago. Asking rents for the State Street/Wabash Avenue shopping district have soared 34.4% in the past year to $52.28 per square foot, according to locally based Northern Realty Group's 10th annual survey of retail space. The jump is the largest in the city's history. Meanwhile, the district's overall vacancy rate rose slightly, from 2% last year to 2.9% this year. Coming soon to the district: a new Goodman Theatre and Borders Books and Music.

Judge OKs TIF for Westfield

One hotly contested battle regarding tax-increment financing (TIF) for a regional mall was resolved in late September, as a Des Peres, Mo., judge allowed a $29.8 million TIF package to redevelop Westfield Shoppingtown West County mall. A group led by Cleveland-based Richard E. Jacobs Group had challenged Westfield America, West County's owner/ manager, and the city of Des Peres, claiming that the financing package violated state regulations pertaining to blight.