Indianapolis - based Simon DeBartolo Group Inc. and The Macerich Co., Santa Monica, Calif., have formed a 50/50 joint venture to acquire 12 regional malls (a combined total of 10.7 million sq. ft. of
retail GLA) from New York - based ERE Yarmouth for $ 974.5 million.
The center will feature 600,000 sq. ft. of
retail GLA, 2 million sq. ft. of office space, two hotels, a 2,000 - unit apartment complex and entertainment components.
In 2001, lifestyle centers comprised 0.8 percent of total U.S.
retail GLA, with 192 properties containing 49 million square feet, according to data compiled for ICSC by the CoStar Group, a Bethesda, Md. - based research firm.
It will feature
retail GLA, a theater complex and restaurant components.
Indianapolis - based Simon Property Group Inc. and The Macerich Co., Santa Monica, Calif., formed a 50/50 joint venture to acquire 12 regional malls (a combined total of 10.7 million sq. ft. of
retail GLA) from New York - based ERE Yarmouth for $ 974.5 million.
The newest acquisitions expand the company's
retail GLA to more than 21.5 million sq. ft. «We feel awfully strong about necessity retail and have been involved in both development and acquisition,» Edens says.
Retail GLA per person in Dade County is 11.7 sq. ft., compared to the national average of 19 sq. ft., says Stephen Bittel, president of Miami - based Terranova Corp..
No tenants have been announced for the project, which will feature 24,500 sq. ft. of
retail GLA and 56,500 sq. ft. of office space when it is complete.
The mall is part of Mill Creek, a 500 — acre, masterplanned development that will include a nature center, hotels and additional
retail GLA.
Respondents were asked to include GLA owned and managed through Dec. 31, 2002, and were instructed to report only
retail GLA and only their percentage of ownership in the case of joint ventures.
Not exact matches
The 2018 Mercedes - AMG
GLA 45 has a Manufacturer's Suggested
Retail Price (MSRP) starting at $ 51,595.
Talking with authority about these ingredients and their action requires
retailers to have an understanding of EPA, DHA, AA and
GLA, says Weiss.
The 250,000 sq. ft. development will be the
retail and entertainment component of Peabody Place, a mixed - use project that will resemble a city within a city with
retail, office, hotel and residential
GLA.
To capture the buying power of these consumers,
retail development has reached an inventory of 41 million sq. ft., with another 8 million sq. ft. of
GLA online for completion in 2003.
Total
GLA for
retail space in Hawaii is 15.5 million sq. ft., with an overall vacancy factor of about 6 percent, according to Fridley.
This update of conventional mall merchandising strategy entails a reduction in space available to specialty
retailers, which account for only 219,000 sq. ft., or about one - fifth of the mall's
GLA.
As a result of the deal, the Simon portfolio grew to 241
retail properties in 35 states comprising a total
GLA of 165 million sq. ft.. The transaction valued CPI at approximately $ 5.78 billion, including the assumption of debt.
Once the acquisition is completed, Simon will own 222
retail properties and eight office buildings comprising total
GLA of 175 million sq. ft.