CoStar Reports on Retail Expansion Plans, New Developments, Acquisitions/Mergers/Sales, Closings or Bankruptcies, Personnel, Sustainability and more…
This week in the Retail Roundup, CoStar reports on
expansions or new concepts at Columbia, Office Max, Disney Store, and Fresh & Easy;
new retail developments in NJ, MO, CA, MI and OK;
acquisition, merger, loan or sale activity at Weingarten and Hines, Inland and Feldman, and Charlotte Russe;
closings, cutbacks or bankruptcies at National Wholesale Liquidators, Sears, Yum Brands, and Harold's Stores;
personnel announcements at Kimco, Gotham and ICSC;
green building news at Fred Meyer; and more.
Did you miss last week's CoStar Advisor national retail story, "Retail REITs Feeling Effects of Tenant Fallout and Leasing Slowdown"? If so, follow this link to read the story.
ICSC Lowers its Prediction for a Holiday Sales Gain to 1%; Following Worst October in 35 Years
The International Council of Shopping Centers has lowered its Holiday comparable store sales growth forecast to 1.0%, down from a previous forecast of 1.7%. The change came after ICSC's chain store sales index for October showed a 0.9% decrease in year-over-year same store sales, its weakest October performance in more than 35 years. When ICSC excluded Wal-Mart from results, the decline was 4.2%. About the October results, Michael P. Niemira, ICSC's chief economist and director of research said, "consumers put off any discretionary spending resulting in exceedingly weak October sales results."
Taubman Centers Survey Said Average Shopper Will Spend $400 on Black Friday
Taubman Centers recently completed a survey of nearly 8,000 of its shoppers to predict Black Friday shopping patterns. Taubman said shoppers would be in malls in droves on Nov. 28; and 60% of those plan to spend the same amount they did in 2007, while 9% plan to spend more. The shopping will continue, with 42% shopping through the weekend. 73% of shoppers said they wouldn't leave themselves out of their spending, if they find the right item. Specifically, shoppers said they expect to spend $400 on Black Friday alone. The stores they'll frequent, in order, include women's, men's and children's apparel, toys, electronics, books, CDs, jewelry and home goods.
(Editor's Note: To keep up on happenings and trends in retail real estate, subscribe to CoStar's Retail News Roundup, a weekly column covering retailer expansions and new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales. new shopping centers, personnel changes, and sustainability. Follow this link for access to back issues of the roundup. In addition to appearing every week in the national news and retail news sections of our web site, you may also receive the Retail News Roundup for free via email by requesting to be added to the distribution list by contacting senior editor, Sasha Pardy at spardy@CoStar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.
EXPANSIONS / NEW CONCEPTS
Fresh & Easy Opens 100th Store; Sets Sights for 200th in Nov. 2009
Fresh & Easy Neighborhood Market celebrated the opening of its 100th store on Nov. 12, 2008; exactly one year following the opening of its first store in Los Angeles. CEO Tim Mason said the company has had a "fantastic" first year with the response from customers "surpassing its expectations." He added that the company is in a good position for the economic downturn because of its "budget prices." Fresh & Easy now operates 26 stores in Phoenix; 25 in Las Vegas; and 49 in Southern California. More are scheduled to be added in those markets, as well as northern California; but at a slower pace due to the downturn. The company is aiming to hit 200 stores in November 2009.
Columbia Opens Second Stand-Alone Store; More to Come
Outdoor Apparel and Gear brand, Columbia Sportswear Company (NASDAQ: COLM
), opened a new Columbia retail store at the Portland International Airport on Nov. 14. The stand-alone store is the company's second -- the Columbia flagship store and adjacent "Mountain Hardwear" store in its home base of Portland. Two more Columbia stores are scheduled to open later this month in Minneapolis and Seattle, followed by a Chicago store in 2009.
OfficeMax Founder Launching Max Wellness Retail Concept
Michael Feuer, founder of OfficeMax, along with business partner Jared Florian, is launching a new retail company. Dubbed "Max Wellness," the concept is a healthy living store that would include vitamins and supplements, medicine, medical and fitness supplies, and an in-store pharmacy and mini-clinic. Unlike a typical drugstore, Max Wellness would not sell typical food, convenience and beauty products found in those stores.
The first four stores are expected to open in the first half of 2009 in the Cleveland, Naples and Fort Myers, FL areas. Preferred store size is 6,000 to 10,000 square feet. The two plan to grow the chain nationally by 2012.
RCS Appointed to Find New Disney Store Locations
New York-based RCS Real Estate Advisors was the company retained by Disney for its May 2008 reacquisition of the North American Disney Store retail chain from Children’s Place. Since then, Disney has appointed RCS to serve as the chain's outsourced real estate department.
Following the Children's Place transaction, there were 98 Disney Stores closed and 220 remained open. RCS told CoStar that Disney is done closing stores, other than those that are scheduled to close when leases expire. Disney has asked RCS to maintain, a constant store count, which encompasses replacing underperforming stores with new locations that better meet the Disney customer demographics.
Currently, RCS is facilitating the selection and negotiation of 10 new regional mall locations and seeking six additional locations for new Disney Stores in 2009. In 2010, RCS is expected to identify and negotiate 20 new locations, including a site for a brand new Disney flagship store in Times Square.
(Editor's Note: To keep up on happenings and trends in retail real estate, subscribe to CoStar's Retail News Roundup, a weekly column covering retailer expansions and new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales. new shopping centers, personnel changes, and sustainability. Follow this link for access to back issues of the roundup. In addition to appearing every week in the national news and retail news sections of our web site, you may also receive the Retail News Roundup for free via email by requesting to be added to the distribution list by contacting senior editor, Sasha Pardy at spardy@costar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.
NEW SUPPLY
Simon's Jersey Shore Premium Outlets Now Open in Tinton Falls
Simon Property Group's (NYSE: SPG) Chelsea outlet division has opened a new, $157 million outlet center in Tinton Falls, NJ. Jersey Shore Premium Outlets is located on 60 acres just off the Garden State Parkway at exit 100A on Route 66 East, is comprised of 435,000 square feet, and houses 120 outlet stores.
Tenants include Ann Taylor, BCBG Max Azria, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Cole Haan, Elie Tahari, Geox, Guess, J.Crew, Juicy Couture, Kate Spade, Kenneth Cole, Lucky Brand Jeans, Michael Kors, Nike, Sony, Theory and Tommy Hilfiger.
Westfield Receives Approval for $800M New Century Plan
The Los Angeles Planning Commission unanimously approved Westfield's $800 million plan for a major expansion of its Century City mixed-use development, called "The New Century."
Westfield is relocating the Bloomingdale's, currently in the center of the project's 874,000 square feet of retail space bounded by Santa Monica Blvd, Century Park West, and Constellation Blvd, to the base of a 39-story tower (the former plan was 49 stories) that it will build after it demolishes the 360,964-square-foot office building at 1801 Avenue of the Stars / 1930 Century Park West. Westfield will build 358,881 square feet of retail space, 262 residential units, and office space, as well as a transit station it dubs a future "Subway to the Sea."
Other existing major tenants include AMC Theatres, Borders, and the Container Store. The new streetscape design, and relocation of Bloomingdale's to make way for specialty retailers, dining, and entertainment tenants, Westfield says, will create a live/work/play environment.
Westfield is designing the New Century project to LEED standards. Sustainable elements of the project include a greening, landscape and pedestrian plan connecting to Century City as a whole; creating acres of open space; a comprehensive recycling program and waste reduction strategy for tenants, shoppers and residents; high efficiency buildings with fixtures and equipment that minimize the use of water and energy; recycling water for landscape irrigation; and solar powered renewable energy on rooftops of the new buildings.
RIS Progressing on Shoppes at Eagles Landing Plan
RIS Inc. is seeking approval to develop the Shoppes at Eagles Landing, located on 250 acres at the intersection of Business 54 and Highway 54 in Lake Ozark, Missouri. Building supply retailer, Menard's, has signed on to anchor the shopping center's 700,000-square-foot first phase with a 162,000-square-foot store. The second phase of the development would involve 50,000 square feet of retail space situated along a "boardwalk"; and the third would involve 150 apartment units. Eagles Landing would feature a "rustic/wilderness-inspired" theme with an "old-town" ambiance. Land clearing is scheduled for completion by May 2009, with construction on the Menard's to commence soon after for a grand opening in 2010.
Cousins Properties and Horizon Group Partner to Develop Oklahoma City Outlet Center
Atlanta-based Cousins Properties (NYSE: CUZ) is forming a joint venture with Horizon Group Properties (OTC:HGPI.PK) to pursue the planned development of The Outlet Shoppes at Oklahoma City, a 341,400-square-foot outlet shopping center in Oklahoma City.
Located at the intersection of Interstate 40 and Council Road, the project is scheduled to being spring 2009, with a grand opening planned for July 2010. According to Horizon, there is no other outlet center within 145 miles of the site and the center will be located near a tourist-drawing Bass Pro Shops.
Rosemont, IL-based Horizon Group, an outlet center owner/developer with a current portfolio 1.6 million square feet of outlet centers in eight states and an additional 1.5 million square feet in development, will handle development, management and leasing of the project.
Village of Orchard Hills Development Secures Von Maur as Anchor Tenant
Robert B. Aikens & Associates announced Von Maur as the anchor of The Village of Orchard Hills, a 400,000-square-foot mixed-use lifestyle center it is developing at the corner of Three Mile Road and East Beltline Ave in Grand Rapids Township, Michigan. The Von Maur store will be 120,000 square feet and will be its first in Western Michigan. The project will also include 156 residential units. Construction is scheduled to commence early 2010, with delivery fall 2011.
Westfield Opens $240M Galleria at Roseville Expansion
Westfield celebrated the opening of a phase one expansion to the 820,000-square-foot Westfield Galleria at Roseville in Roseville, CA on Nov. 13, 2008.
The $240 million, 400,000-square-foot expansion brings 50 new retailers to the mall including Aeropostale, Beachworks, Delia’s, H&M, Hot Topic, Janie & Jack, Journeys Kidz, Lids, Louis Vuitton, Love Culture, Lush, Mainland Skate, No Fear, Popcornopolis, Pumpkin Patch, Stride Rite, Takken’s Shoes and Teavana.
The expansion also involved a new parking garage, kids play area, and a dining terrace including California Crisp, Hibachi-San, Melt Gelato & Crepe Café, Panda Express, Rubio's Fresh Mexican Grill, UFood Grill, Villa Pizza, New York Deli, Sultan's Fresh Mediterranean, and more.
(Editor's Note: To keep up on happenings and trends in retail real estate, subscribe to CoStar's Retail News Roundup, a weekly column covering retailer expansions and new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales. new shopping centers, personnel changes, and sustainability. Follow this link for access to back issues of the roundup. In addition to appearing every week in the national news and retail news sections of our web site, you may also receive the Retail News Roundup for free via email by requesting to be added to the distribution list by contacting senior editor, Sasha Pardy at spardy@costar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.
ACQUISITION/MERGER/SALE/LOAN ACTIVITY
Weingarten and Hines Create $271M Joint Venture for 12 Shopping Centers
Weingarten Realty Investors (NYSE: WRI) is selling 12 supermarket-anchored shopping centers for $271 million into a joint venture with Hines Real Estate Investment Trust. Under terms of the agreement, Hines will acquire a 70% interest and Weingarten will maintain a 30% interest, as well as provide ongoing management and leasing of the properties. The transaction will close in stages -- the first, involving eight properties valued at $205 million, closed on Nov. 14, 2008.
The 12 centers total 1.5 million square feet, are 96% leased, and are located in high-income, high-density demographic markets in five states. Center anchors include Kroger, Randall's (Safeway), H-E-B, Publix, B.J.'s Wholesale and Harris Teeter, Marshall's, Barnes and Noble, Palais Royal and Stein Mart. Weingarten said the supermarkets at these centers tout average sales in excess of $450 per square foot.
Weingarten provided preferred equity in the amount of $134 million for the initial closing of the joint venture. Its equity position will be reduced at the end of this year when $100 million of financing committed by an un-named "major life insurance company," closes.
The Dallas office of Holliday Fenoglio Fowler represented Weingarten in structuring the venture.
Inland to Assume Title of Three Feldman Malls, Deal to Leave Feldman With Minority Interest in Only Three Malls
Great Neck, NY-based regional mall owner/manager, Feldman Mall Properties, today announced an agreement with Inland American Real Estate Trust ("Inland") for Feldman to repurchase 2 million shares of convertible preferred stock from Inland. In exchange, Feldman will turn over to Inland titles to three of its six remaining malls; subject to the mortgage indebtedness secured by the Malls. In addition, Inland will pay Feldman $9.125 million in cash; which represents the amount by which the value of the malls, subject to outstanding indebtedness, exceeds the value of the preferred stock.
This transaction is subject to approvals of the board of directors of both companies; but if the transaction is completed Feldman said it would have the cash it needs to redeem from Kodiak 28,500 preferred securities of FMP Statutory Trust (a subsidiary of Feldman), which carry a $28.5 million liquidation value. In addition, Feldman said it would be able to redeem and retire $29.38 million of unsecured junior subordinated notes also held by FMP Statutory Trust.
In the event Feldman is unsuccessful in completing the Inland transaction, the mall owner said it would need to raise sufficient additional capital or successfully renegotiate existing debt in order to continue to fund its on-going operations. However, the likelihood of Feldman achieving these alternatives is low, as the company said, "The current economic and business environment makes the achievement of any such alternative transactions especially difficult ." Feldman has been working to secure additional capital for more than a year now with little success.
FOLLOW THIS LINK TO READ THE REST OF THIS STORY.
Charlotte Russe Receives Buyout Proposal; Appoints New Board; Plans to Open 20-25 Stores in 2009
On Nov. 12, the day it reported its fourth quarter results, ladies apparel retailer, Charlotte Russe (NASDAQ: CHIC), announced receipt of a buyout proposal from KarpReilly Capital Partners LP ("KarpReilly") and H.I.G. Capital, LLC to acquire all of the company's outstanding shares for $9.00 to $9.50 per share. Charlotte Russe said its board will review the proposal "carefully in light of current economic conditions."
Jennifer Salopek, Chairman of Charlotte Russe said that it has already corrected one premise of the buyout proposal - that the company had no permanent management team. The company announced the hiring of John Goodman, former president and CEO of Mervyn's, as its new CEO; hired Emilia Fabricant, former president and chief merchandising officer of babystyle, as its new president and chief merchandising officer; and also hired Fred Silny, former SVP and CFO of Guess as its new EVP and CFO.
Under direction of this new board, the company will execute a strategic plan to optimize its business. The company full year results included an 11.1% increase in net sales, 1.5% decrease in comparable store sales, a 44.8% decrease in earnings per share, and the opening of 57 new stores. The company said it had no long-term debt and $45.5 million in cash.
Charlotte Russe currently operates 485 typically mall-based stores in 47 states. The company plans to open 20-25 new stores in 2009.
(Editor's Note: To keep up on happenings and trends in retail real estate, subscribe to CoStar's Retail News Roundup, a weekly column covering retailer expansions and new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales. new shopping centers, personnel changes, and sustainability. Follow this link for access to back issues of the roundup. In addition to appearing every week in the national news and retail news sections of our web site, you may also receive the Retail News Roundup for free via email by requesting to be added to the distribution list by contacting senior editor, Sasha Pardy at spardy@costar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.
CLOSINGS/CUTBACKS/BANKRUPTCIES
Sears Shuttering 19 Stores Early Next Year; 2 Million Square Feet Set to Go Dark
Sears Holdings Corporation (Nasdaq: SHLD) is closing seven underperforming stores in February 2009, in addition to its recent announcement that 12 stores would close in January.
The Hoffman Estates, IL-based retailer is scheduled to close February 4, 2009 four Great Indoors stores located in Las Vegas, NV (139,320 sq. ft.); Woodbridge, NJ (157,808 sq. ft.); Chino Hills, CA (130,000 sq. ft.) and Schaumburg, IL. Great Indoors stores is an upscale home furnishings and accessories concept sears launched in 1998 with a goal of creating a 100-store chain -- it closed some stores in 2003 and 2005 and will be left with 12 Great Indoors stores after these close.
Other stores scheduled to close in early February include a Kmart in Fairmont, MN (80,918 sq. ft.); Sears Essentials in Clearwater, FL (89,616 sq. ft.); and two Sears Grand stores in Menomonee Falls, WI (82,368 sq. ft.) and American Fork, UT (80,448 sq. ft.).
Previously announced stores scheduled to close by January 31, 2008 include eight Kmarts in Marietta, GA (109,038 sq. ft.); Phoenix (151,756 sq. ft.) and Mesa, AZ; Forest Park, OH (122,694 sq. ft.); Northridge, CA (108,000 sq. ft.); Clarksville, IN (108,813 sq. ft.); Sarasota, FL and Knoxville, TN. A Sears Grand in Columbia, SC (130,740 sq. ft.); Sears Essentials in St. Petersburg, FL (87,200 sq. ft.); and two other Sears stores in Indianapolis, IN (231,066 sq. ft. at Lafayette Square Mall) and Florissant, MO (182,442 sq. ft. at Jamestown Mall) will also close.
National Wholesale Liquidators Files Bankruptcy
West Hempstead, NY-based National Wholesale Liquidators filed Chapter 11 bankruptcy on Nov. 10, 2008. The closeout goods retailer listed assets and debt of $100 million to $500 million; it listed 62 affiliate companies. The company said that in part, it was forced to file due to a reduction in credit by GE that hampered $15 million in vendor deliveries.
According to CoStar Tenant, the retailer has more about 50 stores in CT, DC, DE, IL, MA, MD, MI, NJ, NY, PA and RI -- its stores average 60,000 square feet, but range in size from 10,000 to 200,000 square feet. Its headquarters building in West Hempstead is a 150,000-square-foot industrial building located in the Central Nassau Industrial Submarket.
Dallas-based Harold's Stores Inc. and its related companies (Harold's Stores Inc., Harold's Direct Inc., Harold's Financial Corp., HSTX Inc., Harold's of Jackson Inc., Harold's Limited Partner Inc. and Harold's Stores of Texas LP) have filed Chapter 11 bankruptcy.
Founded in 1948 in Norman, OK, the high-end men's and women's apparel retailer lists on its website 44 store locations in AL (2), AK (2), CA (1), CO (1), GA (3), IN (1), KS (2), KY (1), LA (1), MS (1), MO (2), NB (2), NC (2), OK (5), SC (1), TN (2), TX (12), UT (1), and VA (2). Stores carry the Harold's and Harold Powell banners.
Harold's listed assets and liabilities between $10 million to $50 million in its bankruptcy filing and cited increased competition and a weak economy as primary issues.
The company has ceased accepting orders on its website and is liquidating all merchandise in its stores as part of its store closure process. Gordon Brothers Group is serving as the company's liquidation advisor.
According to CoStar Tenant, Harold's leases a 85,954-square-foot distribution center at 705 E. Lindsey St. in Norman, Oklahoma. It's largest store is 44,271 square feet and located at the Crabtree Valley Mall in Raleigh, North Carolina. Harold's typical store is 4,000 to 6,000 square feet and located in an upscale regional mall.
For Harold's store locations, follow this link.
Yum Brands Eliminating Several Hundred Jobs
Yum Brands (NYSE:YUM) is set to cut "several hundred" jobs, said Reuters, in a report that said Yum is selling company-owned Kentucky Fried Chicken and Pizza Hut restaurants to franchisees in an effort to restructure its U.S. business. Specifically, Yum will sell half of the units in the two chains; but will maintain its level of company-owned Taco Bell restaurants. While approximately 200 positions from the sold stores will be transferred to the company's other brands, Yum said "several hundred" net job losses would result as the company cuts employees at its offices in Louisville, Dallas, and Irvine, CA.
(Editor's Note: To keep up on happenings and trends in retail real estate, subscribe to CoStar's Retail News Roundup, a weekly column covering retailer expansions and new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales. new shopping centers, personnel changes, and sustainability. Follow this link for access to back issues of the roundup. In addition to appearing every week in the national news and retail news sections of our web site, you may also receive the Retail News Roundup for free via email by requesting to be added to the distribution list by contacting senior editor, Sasha Pardy at spardy@costar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.
PERSONNEL ANNOUNCEMENTS
Kimco Makes Management Changes, in Light of Retiring President and COO
New Hyde Park, NY-based retail REIT, Kimco Realty Corporation (NYSE: KIM) today announced management changes, including a new president and chief operating officer.
Michael Flynn is retiring from his post as president and chief operating officer at the end of this year. David Henry will take over as president and will continue to serve as vice chairman and chief investment officer.
David Lukes, currently an executive vice president in charge of the financial performance of Kimco's U.S. and Puerto Rico portfolios, will take over as chief operating officer, directing the strategy and day-to-day activities of the company's shopping center business.
Flynn has been with Kimco for 17 years, as president and chief operating officer since 1997, vice president since 1996, and a member of the board of directors since 1991. He will continue to serve on Kimco's investment committee, consulting on the company’s business projects in the Florida market and participating in periodic business unit and portfolio reviews.
Michael Pappagallo, currently chief financial officer, is adding the responsibility of chief administrative officer, overseeing corporate planning and administration.
Milton Cooper will continue to serve as chief executive officer and chairman of the board, and will also lead an expanded office of the chairman that includes himself, Lukes, Henry, and Pappagallo.
Gotham Hires Jeffrey Kaye as VP of Development
The Gotham Organization, developer of major urban infill redevelopment projects Harlem USA and DC USA, hired Jeffrey Kaye as vice president of development. A 15-year industry veteran, Kaye's experience includes development, finance, construction and architecture. In his new role, Kaye will manage Gotham's existing projects, as well as cultivate new development opportunities.
Prior to joining Gotham, Kaye was a principal and founder of Sterling Kaye Development, Inc., a real estate company with a focus on situational development; served as a director at Anbau Enterprises, Inc., a high-end residential development company; and in the mid-1990s as an architect at Perkins Eastman Architects.
Kaye graduated from Lehigh University with a degree in architecture in 1995 and is an active member of REBNY and ULI.
ICSC Names Former Sugar Land Texas Mayor as Economic Development Research Scholar
ICSC recently named David Wallace its Research Scholar for Economic Development. In this capacity, Wallace, for two years, will focus his research on partnerships between local governments and the retail real estate development community and will work with ICSC's Research Department to publish books and articles, produce videos and speak at meetings and conferences on the topic.
Wallace is a former mayor of Sugar Land, Texas, and a founding partner of Houston-based Wallace Bajjali Development Partner. As mayor, the formation of public-private partnerships was a key tenet during his term, which ended last July. "If there is a service that the city provides and a private-sector company can do it faster and better than we can, then we need to look really seriously at outsourcing and creating a partnership,” Wallace said. He has had a hand in the development of two major infill mixed-use development projects in Texas.
(Editor's Note: To keep up on happenings and trends in retail real estate, subscribe to CoStar's Retail News Roundup, a weekly column covering retailer expansions and new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales. new shopping centers, personnel changes, and sustainability. Follow this link for access to back issues of the roundup. In addition to appearing every week in the national news and retail news sections of our web site, you may also receive the Retail News Roundup for free via email by requesting to be added to the distribution list by contacting senior editor, Sasha Pardy at spardy@costar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.
SUSTAINABILITY/ GREENING
Fred Meyer to Earn Silver LEED Certification on Southeast Portland Store
Fred Meyer is spending $15 million renovating a store at 39th and Hawthorne in Southeast Portland, OR to become LEED-Silver certified. The store would be the first LEED-certified supermarket in Oregon and would also be the first LEED-certified store in Kroger's fleet of brands. The renovation process is planned for spring 2009 completion.
Elements of the project that will earn the store LEED certification include heavy-duty insulation; low-flow bathroom and kitchen water fixtures; energy efficient ventilation and refrigeration systems; low-maintenance concrete floors; many skylights; and a recycling program for at least 70% of the store's waste.
(Editor's Note: To keep up on happenings and trends in retail real estate, subscribe to CoStar's Retail News Roundup, a weekly column covering retailer expansions and new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales. new shopping centers, personnel changes, and sustainability. Follow this link for access to back issues of the roundup. In addition to appearing every week in the national news and retail news sections of our web site, you may also receive the Retail News Roundup for free via email by requesting to be added to the distribution list by contacting senior editor, Sasha Pardy at spardy@costar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.