NewMark Merrill Mountain States this week issued a double-barreled press release: It closed on a $62 million refinancing of the Village at the Peaks and opened the Boulder-area center at close to 90% capacity.
Art Van Furniture will take over a 34,000-sq.-ft. space vacated by H.H. Gregg at Gurnee Town Center in Illinois, according to owner Retail Properties of America, Inc. The electronics chain filed for Chapter 11 bankruptcy protection earlier this year.
PREIT announced that it has fully leased the space vacated by Sears at Magnolia Mall, nine months after the store closed shop at the Florence, South Carolina, property.
Herberger’s has moved to a new location at the Valley View Mall in LaCrosse, Wisconsin, “right-sizing” to a 100,000-sq.-ft. space in a spot recently vacated by Macy’s. Herberger’s was the sixth tenant to backfill vacant department store space at a PREIT-owned mall this year.
A new Marshalls location will co-anchor the Shoppes at Apple Greene in Dunkirk, Maryland, along with Harris Teeter, according to center owners Echo Realty and Marrick Partners.
“Retail that can be replaced by the Internet is suffering. We’re trying to give an experience with great architecture, places to hang out and good people,” Regency Centers’ John Mehigan told the last week. That means food and beverage concepts, and lots of them.
When Simon opened the Forum Shops at Caesars Palace in 1992, the Las Vegas Strip was still a place where one could find $2 blackjack tables and $1.99 steak dinners. Simon Properties took a chance, brought luxury retail to the Strip, and helped pioneer full-price retail on the famed boulevard.
News and updates on new and existing retail center tenants.