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Trademark Completes Initial Renovation of Zona Rosa Mixed-Use Center in Kansas City

by Katie Lee

Kansas City, Mo. — Trademark Property Company, mixed-use investor, developer and operator, completed the initial renovations of Zona Rosa, a 1.1 million-square-foot mixed-use town center located in Kansas City’s Northland. “By carefully considering each amenity addition and renovation, we’ve reinvigorated the overall Zona Rosa experience to be a vital part of the community,” says Terry Montesi, CEO of Trademark Property. Zona Rosa improvements included tearing down a building to create open green space featuring outdoor seating, lawn games and event activities, including The Rink at Zona Rosa, an outdoor ice rink available …

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Post-COVID Capital

by Katie Lee

— By Carty Davis — The evolving restaurant facility, changing priorities in CAPEX and capital through and post-COVID.   As regulations and mandates end, owners and operators continue to adapt to a post-COVID society. Declining COVID cases and vaccine availability on a large scale show hints of the virus fading into the past, which is encouraging to business owners and the overall economy. While COVID may be on the decline, consumer behaviors, preferences and the distribution systems that support these evolving consumer tastes are here to stay. The quick-service restaurant …

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Levin Management Promotes Senior Property Manager to Portfolio Manager

by Katie Lee

North Plainfield, N.J. — Denise Ciaravino has been promoted to portfolio manager at Levin Management Corporation (LMC), according to Erika Toscani, vice president of property management. Ciaravino joined the North Plainfield, N.J.-based commercial real estate services firm in 2006 as property manager and was named senior property manager in 2009; for the past decade she has overseen the day-to-day operation of a shopping center portfolio totaling approximately 1 million square feet. In her new role as portfolio manager, Ciaravino will also be the single point of contact for a 9-property, …

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Washington Prime Group Files for Chapter 11 Bankruptcy Amid Pandemic-Related Struggles

by Katie Lee

Columbus, Ohio — Washington Prime Group, an Ohio-based owner-operator of regional malls and shopping centers, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. WPG cited insurmountable operating challenges tied to the COVID-19 pandemic as the primary catalyst behind the move. Against that backdrop, both CNBC and Reuters reported that many of the company’s tenants were unable to pay rent at various points in time over the last 16 months as public health mandates and lockdowns decimated foot traffic throughout the brick-and-mortar …

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Midwood to Open $100 Million Shops at Sportsmen’s Lodge in Studio City, CA

by Katie Lee

Studio City, Calif. — Midwood Investment & Development is nearing completion on The Shops at Sportsmen’s Lodge, a $100 million retail redevelopment of land formerly occupied by a meeting and convention center in Studio City, Calif. A rolling opening for the 90,000-square-foot property is scheduled to begin in June. The Shops at Sportsmen’s Lodge will be anchored by Erewhon, a Los Angeles-based market and café known for its selection of organic, healthy foods. Other tenants will include Civil Coffee, Free People Movement, Madison Reed, Myodetox, Roberta’s Pizza, SALT Optics, Tocaya, …

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Kimco Realty and Weingarten Realty Plan to Merge

by Katie Lee

Jericho, N.Y., and Houston — Kimco Realty Corp., one of North America’s largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets, and Weingarten Realty Investors, a grocery-anchored Sun Belt shopping center owner, manager and developer, have entered into a definitive merger agreement under which Weingarten will merge with and into Kimco, with Kimco continuing as the surviving public company. The transaction will create the preeminent open-air shopping center and mixed-use real estate owner in the country. The combined company is expected to have a pro …

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William S. Taubman Promoted to President & COO of The Taubman Company LLC

by Katie Lee

Bloomfield Hills, Mich. — The Taubman Company LLC has promoted William S. Taubman to president of the company; he will also retain his role as chief operating officer. Taubman will continue to report to Robert S. Taubman, chairman and chief executive officer, while leading the company’s development, center operations, leasing and strategic communications functions. “Billy grew up in our business and is a creative, extremely well-respected thought leader within the retail real estate industry,” says Robert Taubman. “He has deep and productive relationships throughout retailing, and particularly with our luxury …

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construction and designmanagementNewsproperty managementretailers

Liberty University to Redevelop Portion of Mall Near Campus

by Katie Lee

Lynchburg, Va. — The first week of January, River Ridge outlined the next phase of its redevelopment, beginning with the demolition of the former Macy’s building on the West End of the property scheduled for first quarter 2021. The revitalized West End is envisioned as River Ridge’s restaurant and entertainment hub along with traditional retail and personal services options. It will provide a contemporary, open-air shopping experience with higher store elevations and urban-esque storefront designs, as well as an outdoor venue for family themed community events. “Now that updates to the …

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New Food Hall, Politan Row at Colony Square, Coming to Midtown Atlanta

by Katie Lee

Atlanta — A new food hall is coming to Colony Square, the 50-year-old mixed-use destination undergoing a massive $400 million transformation at the corner of 14th and Peachtree Street in Midtown Atlanta. The food hall will open this spring and is being carefully crafted to align with the way people want to dine post-pandemic. Politan Group will operate the food hall known as Politan Row at Colony Square, according to project developer North American Properties (NAP). The founder and CEO of Politan Group, Will Donaldson, launched the company in 2014 …

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Mall Owner CBL Plans for Chapter 11 Filing After Losing $215.3M in First Half of 2020

by Katie Lee

Chattanooga, Tenn. — CBL Properties 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 the company’s August 18 second-quarter earnings call, where CBL revealed that it had drawn down its entire revolving credit …

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