The US shopping center industry appears to be back in growth mode, based on comments from the two largest mall REITs, which reported their year-end results this week.
I guess the Las Vegas comeback is a done deal if fashion retailers are coming to town – or actually to The Shops at Summerlin, the open-air “downtown” for Howard Hughes' masterplanned community in the Las Vegas Valley, the company announced.
To absolutely no one's surprise, JCPenney announced earlier this month that it will close “underperforming” 33 stores (while still opening one in Brooklyn) this year.
The new year brings some good news from DDR Corp., which reported its results including a lot of buying and selling, its highest leased percentage in five years—and, yes, new development.