Paris — As part of its “Better Places 2030” strategy to reduce carbon emissions 50% by the year 2030, Unibail-Rodamco-Westfield (URW) now generates clean, renewable energy at seven of its Westfield shopping centers in the U.S. Westfield Valley Fair in Silicon Valley, Calif.; Westfield UTC in San Diego; and Westfield Garden State Plaza in Paramus, N.J., are now among the country’s most environmentally conscious retail destinations. The shopping centers’ parent company, Unibail-Rodamco-Westfield (URW), has completed installation of, and started generating power from, new solar panel arrays at the centers — …
property management
Sugar Land, Texas — A development team by Houston-based Lionstone Investments will renovate Sugar Land Town Square, a 1.4 million-square-foot mixed-use destination located on the southwestern outskirts of Houston. Lionstone is partnering with Dallas-based creative real estate firm Rebees and Planned Community Developers on the project, which will upgrade landscaping and outdoor common areas to allow for social distancing and more public seating as part of Phase I. In addition, the team will add new signage and tenant storefronts and revamp the tenant roster to include local entrepreneurs with original …
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 …
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 …
Fort Worth, Texas — Trademark Property Company, the Fort Worth, Texas-based retail and mixed-use development, investment and institutional services firm, is taking its focus on experiential retail and guest experiences to the next level with hire of Chuck Steelman as vice president of experience. Steelman will use his near decade of expertise in event and VIP client experience management for the Neiman Marcus Group to elevate and lead Trademark’s experiential retail and guest experience platforms. “In order to thrive, brick-and-mortar retail must offer customers an experience that e-commerce can’t give …
Salt Lake City — Commercial Asset Preservation, LLC (CAP), a nationwide provider of maintenance, repair and inspection services for operating and vacant retail, restaurant, medical, office and industrial real estate, has hired Samuel Cerminaro, Jr. as a national sales executive. Cerminaro was recently the national accounts manager at CTS Flooring in Limerick, Pa., where he was responsible for business development and account management. “Sam brings many years of experience in the facility maintenance industry,” says Marc Insul, president and COO of Commercial Asset Preservation. “His experience, analytical approach and creative …
Indianapolis — Simon Property Group has terminated its Feb. 9 merger agreement with Taubman Centers Inc. Simon also filed an action on June 10 in Michigan’s Oakland County Circuit Court saying Taubman breached the covenants in the merger agreement. Under the terms of the agreement, Simon was to acquire an 80% interest in Taubman for approximately $3.6 billion. Indianapolis-based Simon says its termination of the merger agreement is based on two separate grounds. “First, the COVID-19 pandemic has had a uniquely material and disproportionate effect on Taubman compared with other …
Bal Harbour, Fla. — With carefully considered planning, following CDC guidelines and in alignment with state and local officials, Bal Harbour Shops opened on May 18 with increased safety precautions to protect customers, retailers and employees. In keeping with Miami-Dade County and Bal Harbour Village ordinances, retail stores and indoor restaurant seating occupancy will be limited to 50% and salons will limit occupancy to 25%. “For over 55 years, Bal Harbour Shops has maintained an emotional connection with our customer and our community by enhancing the shopping experience. Making our …
Fremont, Calif. — In observance of Governor Newsom’s new directive, Pacific Commons, a regional lifestyle center in Fremont, Calif., is now offering retail-to-go services with curbside pickup options available to shoppers. While the center itself is open, individual retailers will each determine when they will begin offering sales and curbside services, and their hours will vary. Shoppers taking advantage of retail-to-go services are asked to make their purchases from each retailer or restaurant online or over the phone; payment must be made electronically. When shoppers arrive at Pacific Commons, they …
Fairfax, Va. — As various states begin to open back up, Peterson Companies, known throughout the Washington, D.C., region as one of the largest shopping/lifestyle center owners and managers, has developed a plan to safely welcome back its tenants and their customers, once permitted to do so. Elements of this plan will be implemented at several of its signature properties throughout the DMV including National Harbor, Downtown Silver Spring, Rio in Gaithersburg, Fairfax Corner and Fair Lakes. To better understand changing consumer preferences, the company recently surveyed its customers and …