Paragon Outlet Partners will open Paragon Outlets Grand Prairie, a $100 million, 417,000-sq.-ft. outlet center in Grand Prairie, Texas next week.
The center features more than 100 retailers. Saks Fifth Avenue OFF 5 TH and Bloomingdale’s Outlet Store anchor the property. Other retailers include J.Crew Factory, Nike Factory Store, DKNY, the Puma Store, Coach Factory and Michael Kors.
“We’re elated to be celebrating the grand openings of two of the only five new outlet centers that will open in the U.S. this year,” said Paragon Outlets Principal Robert A. Brvenik in a statement. “We know area shoppers are eager to shop and save at our exciting collection of iconic brands. That’s why we’ll keep Paragon Outlets Gran Prairie open until midnight both Friday and Saturday in conjunction with Texas’ tax free weekend.”
Levin Management Grows Its Portfolio
Levin Management secured five new property management and leasing assignments, including:
Olde Lafayette Village, a 95,000-sq.-ft. retail center in Lafayette, N.Y. The center features a blend of factory outlet stores, specialty stores, antiques shops and restaurants;
Whiting Town Center, a 118,000-sq.-ft. grocery-anchored shopping center in Whiting, N.J.;
Pathmark Plaza, a 63,764-sq.-ft. neighborhood shopping center in Staten Island, N.Y.;
Central Ave., a 30,000-sq.-ft. single-tenant supermarket property in Scarsdale, N.Y.;
Atlantic Plaza, a 21,800-sq.-ft. shopping center in Pleasantville, N.J.
JP Morgan Chase Expands New York Retail Space
JP Morgan Chase signed a 15-year renewal and expansion lease with W&H Properties for a 21,683-sq.-ft. space at One Grand Central Place in New York City.
Gene Spiegelman and Michael O’Neill, of Cushman & Wakefield, represented the tenant in the transaction. Jared Lack, of Newmark Grubb Knight Frank, represented the landlord.
Sports Authority Takes Over Former Borders Store in Northridge
Sports Authority signed a lease for a 53,936-sq.-ft. store at Northridge Fashion Center in Northridge, Cal. The retailer will occupy a former Borders space.
Big Lots to Open at Hudson Mall in Jersey City
Big Lots signed a lease with Pennsylvania Real Estate Investment Trust for a 30,600-sq.-ft. store at Hudson Mall in Jersey City, N.J. The retailer plans to open its new location in early 2013.
Tiffany and Burberry Brit Among Retailers Opening at Westfield San Francisco Centre</2h>
Westfield Group signed deals with several new retailers to occupy space at its Westfield San Francisco Centre in San Francisco.
Tiffany & Co. agreed to take 3,500 sq. ft. of space. Onassis Clothing will open a 2,500-sq.-ft. store at the property in the fall. Burberry Brit will open a 2,500-sq.-ft. store. RED Valentino will open a 950-sq.-ft. store.
Other Notable News
The Inland Group appointed Catherine L. Lynch as a member of its board of directors. She will retain her duties as CFO and due diligence director for Inland Real Estate Investment Corp., a subsidiary of The Inland Group Inc. Lynch joined Inland in 1989. Prior to that, she worked at KPMG Peat Marwick LLP.
The MGHerring Property Group LLC hired Michael E. Rulli to oversee the property management teams at The Village at Fairview in Fairview, Texas, The Village at Allen in Allen, Texas, Uptown Village at Cedar Hill in Cedar Hill, Texas, The Village at Riverwatch in Augusta, Ga., Golden Triangle Mall in Denton, Texas and other properties. Rulli will be responsible for the supervision, direction and administration of the on-site management staff, asset management, property maintenance and repairs, accounts receivables, selecting service contractors and approving property budgets.
RiverRock Real Estate Group hired Jim Lynch as retail practice leader/account manager. In his new position, Lynch will oversee the firm’s retail team and its 3-million-sq.-ft. Red Mountain Retail Group portfolio. Prior to joining RiverRock, he served as general manager with Century National Properties. He has more than 23 years of experience in the industry.
SRS Real Estate Partners hired Scott Gardner and Chris Pitts as senior vice presidents. Gardner has more than 10 years of experience in commercial real estate. Previously, he worked as senior vice president with UCR moodyrambin PAGE. Pitts has nine years of experience in the industry. Prior to joining SRS, he was also with UCR moodyrambin PAGE, where he focused on tenant representation, project leasing and land sales.