The ICSC Blog

June 30, 2011
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BJ’s to go private

Private-equity firms Leonard Green & Partners and CVC Capital Partners said they will acquire BJ’s Wholesale Club for $2.8 billion in cash. The deal, which remains subject to shareholder approval and is expected to close during the fourth quarter, would be the sixth-largest U.S. retail transaction since 2006, according to data provider Dealogic.   BJ’s…

June 30, 2011
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Discounter Aldi Opens First Enclosed Mall Store

In May, German discount grocer Aldi, which has been methodically opening new stores in company-owned, freestanding sites the United States for decades, did something it had never done before in this country. The company opened a new store in an enclosed shopping mall, the 833,000-square-foot Westfield Chicago Ridge in southwest suburban Chicago Ridge, Ill. "The…

June 29, 2011
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BLACKSTONE COMPLETES ACQUISITION OF CENTRO PROPERTIES GROUP US

- POSITIONS COMPANY TO DRIVE LEASING AND REDEVELOPMENT EFFORTS – NEW YORK, June 28, 2011 – BRE Retail Holdings Inc., an affiliate of Blackstone Real Estate Partners VI L.P. (“Blackstone”), today announced that it has closed the previously announced transaction to purchase the US assets and platform of Centro Properties Group and its managed funds…

June 23, 2011
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24 shopping centers bloom on Singapore’s Orchard Road

By Curt Hazlett When it comes to retail development, Singapore is the little engine that can’t stop. The island city-state, which is ranked 191st among nations in size, but sixth in gross domestic product, never seems to stop refining, renovating and redeveloping its shopping districts, even when construction cranes are rusting in other parts of…

June 21, 2011
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“What a difference a year makes.”

By Jesse Tron The title, while perhaps trite, is apropos in the case of RECon and the shopping center industry at large. Last year’s conference was certainly long on optimism but somewhat short on action. In 2010 most attendees were seeing the same amount of meetings they had on their schedules as in pre-recessionary years;…

June 15, 2011
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Banks more picky, Europe Conference told

Have Europe's retail property owners, banks and regulators learned any lessons from the Great Recession they are just now climbing out of? Yes and no, the continent's top executives said during a panel discussion at the ICSC European Conference in Paris today. On the one hand, owners and banks are basing financing on cash flow…

June 10, 2011
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RECon: A View from a Newcomer

Emily Corbin, marketing & real estate student, Sam Walton College of Business, University of Arkansas My Father, a small carwash developer based in Arkansas, is always traveling and going to different meetings or conferences across the United States to promote his business. Since I was young, he has asked me to go with him, but…