Behringer Harvard Opportunity REIT I has formed a joint venture with Hunter Property Fund Management in the U.K. to acquire property in Central Europe. Its first acquisition is a portfolio of 15 retail and industrial properties, mostly in Prague.
Mekong Property expects to open Mekong Plaza, a 100,000-square-foot Asian-themed shopping center, in Mesa, Ariz., in October. The center will include restaurants, beauty salons and a 38,000-square-foot grocery store.
The number of people who visit retail outlets and shopping centers in the U.K. dropped 2.6% in July from a year prior, found a study. "We forecast that sales volumes will contract in July-September, the first such fall since early 2006," noted an economist.
CBL & Associates Properties will thrive in the economic downturn because it is disciplined about its development pipeline, said a company executive, not landbanking or building properties without anchor tenants in place. According to the ICSC, retail development is continuing at a steady pace.
Maria Comfort, chief merchandising officer at Hot Topic, has resigned to take on the role of president and CMO at Wet Seal. Specialty retailer Hot Topic said CEO Betsy McLaughlin will take over Comfort's responsibilities.