Most Clicked ICSC SmartBrief Stories
1. Simon, Westfield look at General Growth assets
ICSC SmartBrief | Nov 18, 2009
Simon Property Group has hired a law firm and investment firm to help it evaluate a possible acquisition of General Growth Properties. Westfield Group is also looking at General Growth, which is expected to file a bankruptcy reorganization plan by February. Wall Street Journal, The (11/18) Bloomberg (11/18)
2. Save-A-Lot announces aggressive 5-year growth strategy
ICSC SmartBrief | Nov 16, 2009
Save-A-Lot plans to expand in the U.S. in the next five years, doubling its portfolio to 2,400 stores. In the near term, it is expected to focus on underserved areas near its existing distribution centers. American City Business Journals (11/13)
3. General Growth wraps up $8.9 billion mortgage restructuring
ICSC SmartBrief | Nov 20, 2009
Huge mall REIT General Growth Properties, which had to seek bankruptcy protection in April, said in a bankruptcy court hearing it had come to an agreement with its lenders to restructure $8.9 billion of mortgage debt secured by 77 malls. The deal is a crucial step toward the REIT's emergence from Chapter 11. "This moves up the entire timetable for getting out of bankruptcy," said Kevin Starke, an analyst with CRT Group LLC. "These guys could be out [in entirety] in the April-June time frame." Wall Street Journal, The (11/20) Bloomberg (11/19) Barron's (subscription required) (11/19)
4. Zell says commercial real estate has further to fall
ICSC SmartBrief | Nov 16, 2009
Barron's (subscription required) (11/16)
5. Equity One acquires N.Y. center for $104 million
ICSC SmartBrief | Nov 16, 2009
Equity One acquired Westbury Plaza in Nassau County, N.Y., from Kimco Realty and DRA Advisors for $103.7 million. The 400,000-square-foot center is anchored by Wal-Mart and Costco. RetailTrafficMag.com (11/13)
6. Commercial real estate's problems: Beyond any rescue?
ICSC SmartBrief | Nov 20, 2009
The U.S. government has pulled off a lot of bailouts recently, but in the deepening problems of commercial real estate, it might have met its match. It increasingly looks as if the government might have to just stand by and let bondholders and banks take huge losses on the nation's $3.4 trillion of deteriorating debt secured by commercial properties. The problem starts with voters. When it comes to wooing votes, giving a helping hand to bondholders doesn't work nearly as well as trying to keep families from losing their homes to foreclosure. Wall Street Journal, The (11/19)
7. Smaller urban stores on tap for Target
ICSC SmartBrief | Nov 18, 2009
Gregg Steinhafel, CEO of Target, said the retailer is considering smaller-format stores for dense urban areas. Though no specific sites have been chosen, he said, "We have to work harder at trying to get a smaller Target in those areas." Bloomberg (11/18)
8. Shopping center REITs report third-quarter increase in leasing demand
ICSC SmartBrief | Nov 18, 2009
Shopping center REITs reported an increase in leasing activity in the third quarter. "I think we saw signs of stabilization. Sequential occupancy increases were somewhat encouraging," said Robert McMillan, an analyst with Standard & Poor's Equity Research Services. "Some of the big-box space that has been vacated is being leased, so once demand picks up, that should help pricing." RetailTrafficMag.com (11/17)
9. Column: Retail trends for 2010 include m-commerce, factory outlets
ICSC SmartBrief | Nov 18, 2009
Michael Baker, a consultant and analyst for global retail, said that as the global economy starts to recover, retailers around the world are focusing more on the future and less on struggling to stay alive. Baker offers a list of the top 10 retail trends for next year. He says mobile commerce is set to explode, while factory outlets have remained a bright spot in the industry. Age (Melbourne, Australia), The (11/18)
10. After seizing numerous banks, FDIC a major U.S. property owner
ICSC SmartBrief | Nov 18, 2009
Along with more than 150 banks taken over when they failed, the U.S. government got an enormous mixed bag of properties, together valued by appraisers at about $1.8 billion. The Federal Deposit Insurance Corp. is working at selling the assets, but it is a task that could take years. The bank regulator ended up with more than 5,000 parcels of undeveloped or partially developed land, office buildings, stores, shopping centers and houses. They include a $1.7 million lodge in Colorado and an $18,700 clapboard house in Alabama. Wall Street Journal, The (11/17)
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Companies in the news
- Dillard's Inc.
- General Growth Properties Inc.
- HBC
- Metrovacesa
- RBC Capital Markets
- Saks Incorporated
- Sears Canada
- Sears Holdings Corp