March 28th, at They sold square pizza.
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La Perla Outlet 1 locations. It seems Westchester is doing better than Rockland retail wise you are right we are squeezed between Westchester and Paramus.
There is no way Nanuet mall is ever going to get back. March 28th, at 6: Every retailer has a better store in Westchester, Dutchess or Bergen. Bergen excels at duplocating most stores in Paramus, wich is just about unherd of everywhere else in this country except the cities around Los Angeles perhaps. March 29th, at 1: March 29th, at 4: Its a nice mall.
March 29th, at 7: The first time I went there I was a freshman at Purchase College. I cant put my finger on it. I have not been to Green Acres Mall since this renovation. March 30th, at 9: How it has survived in the shadow of Green acres is amazing, but I guess you could say the same reguarding Broadway Mall in terms of being only 7.
March 30th, at The same can be said for Brunswick Square doing so well with Menlo and Woodbridge not too far off, and Livingston Mall doing well even though Short Hills is only 4 miles off. As you have said in post after post, that is why the malls around the metro area especially in New Jersey need to constently renovate to keep pace with their compitition.
When I visit my family in Raleigh N. I think many people are bored with Macys we need something new and different. August 18th, at 8: One of the things that makes Green Acres interesting is the mirror immage dumbell design that make up two of the three wings with JC Penney dead center.
The Sears wing contains the food court on the upper level. Here is the mall map, http: The store opened in Sep of March 27th, at 4: Ron October 28th, at 3: I know for a time in the 80ss crime used to be a problem around the mall. From the looks of things, it seems to have cleared up. The mall looks beautiful. SEAN August 18th, at 9: Joan October 18th, at 8: I remember Green Acres before they enclosed it.
Kleins was an anchor store and I believe just before that Lanes was in there. I worked in the Kleins briefly before I found out I was expecting complications made working impossible. Joan, my mom loved kleins.. SEAN October 24th, at 9: New York — The Macerich Co. Kings Plaza spans 1. Macerich plans on placing secured debt on the property at the closing of the transaction, which is slated for late Macerich owns Queens Center, the largest mall in Queens.
February 3rd, at 4: The shopping center owner and manager purchased the property from a subsidiary of New York-based Vornado Realty Trust. Simultaneously, the company has been selling its non-core assets and recycling capital. Macherich, a publicly traded REIT based in Santa Monica, now owns approximately 66 million square feet of gross leasable retail space in its portfolio, which consists primarily of interests in 61 regional shopping centers. February 4th, at 1: February 15th, at 6: With private equity and institutional investors pumping an increasing amount of capital into commercial real estate, REITs are finding the current environment provides a compelling option to raise equity by selling off properties rather than raise debt levels through new offerings in the public markets.
That is one of the primary drivers behind The Macerich Co. During its fourth-quarter conference call, Macerich executives said they had placed 17 malls and one office building on the market. And as I said last quarter: You can never have too much equity, and you can never have too little debt. Four of the properties have CMBS exposure: We also had another broker expose the three assets we own in the Greater Seattle area to the market. So there are 17 assets that are being exposed on the retail side of the market, and the office complex at Redmond Town Center is also in the market right now.
Coppola said the REIT did not intend to sell all 17 assets, but rather to offer a sampling on a limited time offer. Macerich has received a significant amount of interest in the properties, Coppola said. Half a dozen groups are bidding on the 14 assets with some groups bidding on more than one. February 28th, at 8: Reports that Macerich Co. There will be few opportunities for acquisitions or development of new properties, and redevelopment will continue to be the main avenue for growth in the regional mall space, according to analysts who track the sector.
On the positive side, occupancies and tenant sales should remain strong and rents are expected to rise. At the end of the fourth quarter, the national vacancy rate for regional malls averaged only 8. Going forward, that means regional mall REITs will likely have an opportunity to raise their rents, especially given that retailers seem to be in an expansion mode, says Todd Sullivan, a Massachusetts-based investor and author of the blog Value Plays.
On the flip side, it also means there will be few motivated sellers of high-grade mall properties, he points out. In fact, record low cost of capital would make financing new acquisitions easy for firms looking to grow their portfolios, according to Jason Lail, manager of the real estate research group at SNL Financial, a Charlottesville, Va.
In fact, Taubman Centers Inc. For example, in September, Taubman and partner New Century Development broke ground for the ,sq.
Mall of San Juan in Puerto Rico. Some of the regional mall players might be able to grow this year through redevelopment and expansion of existing centers, or forays into outlet center development, according to Rich Moore, a REIT analyst with RBC Markets. Of these growth sources, each is contributing significantly to the earnings with the exception of our redevelopments, which will just start to impact our bottom line toward the end of this year.
Pragmatic Guy February 5th, at 2: All this talk of the mall and not one person mentions Green Acres Bowl which was open 24 hours. It was where the Sears is now. SEAN April 19th, at 9: While Vornado Realty Trust has proved quite successful in disposing of its retail properties, the REIT continues to see negative impact from its investments in non-traditional assets, in particular its stakes in struggling chains J.
Its investments in J. As of year-end , Vornado has been able to shrink its retail portfolio properties totaling Smotrich in an Apr. In March, the REIT also moved to sell 40 percent, or 10 million, of its JCP shares, after the department store chain reported double-digit same-store sales declines for the fourth quarter. Even with the loss, analysts at Fitch Ratings viewed the disposition as a net positive. Vornado also disposed of most of its Mart assets.
The Green Acres Mall in Valley Stream could have a new facade and expanded retail space in the near future as part of renovations planned for the shopping complex by its owner, Macerich Co. Macerich, based in Santa Monica, California, is considering replacing the Sunrise Multiplex Cinemas, a building adjacent to the mall that the company bought last year, with more stores, said Amaka Oweazim, marketing manager for Green Acres.
In addition, the mall will undergo reconstruction on its south side to build a facade with multiple shop fronts. Oweazim said the mall will let the theater, which is run by Dedham, Mass. She declined to give a time line or specify when the theater would close. National Amusements did not return requests for comment.
Macerich may also seek local tax breaks for the Green Acres redevelopment. Fred Parola, executive director of the Hempstead Industrial Development Agency, said he has had preliminary meetings with the company about its plans to revamp the property.
Macerich would have to qualify Green Acres as a tourist destination — meaning that it draws 51 percent or more of its visitors from outside Nassau County — to apply for tax breaks, because the Hempstead IDA does not give tax assistance to retail projects, Parola said.
He added that Macerich was interested in a property tax abatement and sales tax exemption. January 10th, at This move by Macerich is reflexive do to the adition of Neiman Marcus at Roosevelt Field a few miles to the northeast. January 12th, at 2: Maybe I should have copied the article better. Everything in my post came from the article from the NewsDay link.
Look at the leasing brochure on page 7 and see the rendering for the expansion area. It looks like Macerich will build a new mega cinema on a upper level. The new expansion will be called Green Acres Plaza. Based on the lease brochures, Macerich is planning a lot of changes. Here is the quote,. January 12th, at 9: Good to see that the cinema will be replaced since that was one of the earliest multiplexes that National Amusements had built. I want to say it opened somewhere around ish?
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