It looks like Xanadu Meadowlands, North Jersey's ill-fated retail/entertainment complex has finally found the right developer. Over the weekend, Triple Five Group, the owners of the Mall of America, signed a letter of intent with Xanadu's lenders to take over the project. Given Triple Five's experience with venues of this kind (in addition to retail, Mall of America features a movie theater complex, an amusement park and other entertainment components), this seems like a step in the right direction. For more on retail and retail real estate follow the links below:
- Leonard Green Offers $1.6 Billion for Jo-Ann Stores (The New York Times)
- Beleaguered Blockbuster to Close More Stores (KKTV.com)
- A&P Seeking 25 Additional Lease Rejections (Supermarket News)
- Bustling Malls Show They Still Have Hold on Consumers (Los Angeles Times)
- Shops at Atlas Park Get Another Lump of Coal as Mall Crawls Through Second Christmas in Foreclosure (New York Daily News)
- The 11 Most Incredible Shopping Malls in the World (Business Insider)
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