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ATLANTA-Macy's is shuttering seven stores in April with an estimated 500,000 sf; Kmart is walking away from about one million sf by April; and JC Penney is cutting up to 1,200 workers in July at its 150,000-sf catalog distribution warehouse in suburban Forest Park.
SAN DIEGO, CA-A 20-year plus veteran of the real estate industry, James Munson is chosen to fulfill the post of managing director of transaction services for Burnham Real Estate Services.
SEATTLE-The Canada-based retailer is closing 34 of its 39 discount furniture stores throught the United States. The mass shutdown of U.S. stores should be complete by spring.
NEW YORK CITY-Adding diversity to three of its REITS, locally based W.P. Carey picks up seven distribution centers from hardware wholesaler TruServ, all of which will be leased back under 20-year triple net agreements.
RICHMOND, VA- Real Estate Research Corp. brings in a heavy hitter to lead its Mid-Atlantic region activities. Robert Gray, the president of Robert Gray and Co., will concentrate his efforts on consulting and analysis for regional markets from Washington, DC to Philadelphia.
ORLANDO-Area retail industry analysts tell GlobeSt.com the vacated space will either be subdivided and rented to local tenants at lower rents or leased to regional or national tenants who likely will ask the owner to demolish the structures and erect a new building.
SANTA CLARAProperty owners will have to relinquish their properties to the city, after a Santa Clara judge approved a court order that allows the city to take control of the aging Tropicana Shopping Center by eminent domain.
BALTIMORE, MD-The Johns Hopkins University makes haste in its effort to develop the mixed-use Charles Village Project by bringing joint venture Collegetown Development Alliance on board as the project builder.
SANTA CLARA-Property owners will have to relinquish their properties to the city, after a Santa Clara judge approved a court order that allows the city to take control of the aging Tropicana Shopping Center by eminent domain.
RANCHO CUCAMONGA, CA-The company buys the single-story, freestanding facilityfrom the Wilkins Family Trust. TACC will use the building to house its corporate headquarters, as well as its manufacturing and warehousing