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Welcome to Real Estate Roundup, Chain Store Age's monthly series highlighting top news in commercial real estate. Here are December's biggest stories.
G. Joseph Cosenza, founder of Inland Real Estate Group, passed away on Christmas Day at 81. His investment club grew into one of the nation's largest owners and managers of commercial real estate.
Big Lots has struck a deal to keep 200-400 stores open through a sale transaction with Gordon Brothers Retail Partners. Malls saw a surge in traffic on Super Saturday, rising 11.3% compared to the previous week.
Eden Prairie Center added seven new tenants, expanding its mix of retailers and restaurants. At the ICSC show, several operators said commercial real estate space is going fast, despite being overbuilt earlier.
Party City plans to close all 700 stores nationwide through a "wind down" process. Sun Belt cities topped CoStar Group's list of best retail markets in 2024, with Phoenix, Orlando, and Las Vegas leading the way.
Newmark hired Luca de Ambrosis Ortigara, a European consultant with 35 years of luxury development experience. Westchester's Ridge Hill unveiled a new central gathering space, Town Square, which will host over 100 annual events.
Poag Development invested $1.3 million in property improvements at RiverTown Crossings shopping center in Michigan. Round1 signed a lease for its first NYC location at The Shops at Skyview in Queens.
Lincoln Market signed a 20-year lease for a new Manhattan store, set to open late 2025. Easton Town Center announced new retailers and restaurants to celebrate its 25th year. Mall of America logged 500,000 visitors on Black Friday weekend.
