UPDATE: S&K Menswear Closing All Remaining Stores in Bankruptcy
May 25th, 2009Bankrupt men’s apparel retailer, S&K Famous Brands, has commenced liquidation sales at all of its remaining 105 stores, which are located in 26 states. Jonathan Tibus, the company’s chief restructuring officer said, “In spite of our best efforts, the…
Historic Highland Park Village Sells for $164M
May 22nd, 2009Highland Park Village, a 246,200-square-foot lifestyle center in Dallas, TX, was recently sold by Henry S. Miller to HP Village Partners, an entity owned by Highland Park natives Ray and Heather Washburne and Elisa and Stephen Summers. According to CoStar…
ICSC RECon 2009 Recap: Straight From the Participants
May 21st, 2009This week in Las Vegas, the International Council of Shopping Centers (ICSC) held the retail real estate industry’s largest convention of the year, RECon 2009. Though the impact of the recession was apparent in lower attendance than the record numbers…
CRI Society Launches New Website
May 21st, 2009Welcome to the new CRI Society website!
Crossroads Marketplace Sells for $79M
May 21st, 2009Lakha Investments of Bellevue, WA recently sold Crossroads Marketplace, a 539,270-square-foot power center in Chino Hills, CA for $79 million, at a 5.87% cap rate. The buyer, SKT investments, assumed the seller’s CMBS loan on the property.
Located…
Despite Economy, CRE Portfolios Performing Adequately for Banks
May 20th, 2009For all of the dread concerning a widespread crash in the commercial real estate markets that has been put into words in the first quarter of 2009, the nation’s largest banks seem relatively unruffled coming out of the quarter.
That’s not to say that…
CRE Lending Conditions at Community Banks Likely To Decline
May 20th, 2009Commercial real estate lending conditions for community banks are likely to decline further in coming quarters after worsening significantly in the first quarter of 2009, according to the Commercial Real Estate Lending Index from Banc Investment Group…
Bank Watch (May 17-23): Feds Come Down on Chicago Area CRE Lender
May 20th, 2009First Mutual Bancorp of Illinois Inc., a Harvey, IL-based bank holding company that owns and controls Mutual Bank also in Harvey, entered into a written agreement with the Federal Reserve Bank of Chicago to maintain financial soundness.
Among other…
Closures & Layoffs (May 17-23): AmEx, HP, Medtronic, Seagate Cutting Thousands
May 20th, 2009American Express is undertaking a companywide reengineering through the remainder of 2009. The reengineering plan includes: a reduction of staffing levels, scaled back investment spending, and further cutbacks in operating costs. The company will eliminate…
Lease Cancellations (May 17-23): Filene’s To Cut Payments on 13 Properties
May 20th, 2009Trimeris Inc. entered into an agreement releasing it from $8.3 million in future sublease obligations relating to an office and laboratory building it formerly occupied at 3500 Paramount Parkway in Morrisville, NC. Trimeris will pay $1.8 million to terminate…
