Simon Property Group is pushing its footprint globally, with a focus on the outlet concept. The REIT has announced plans to develop an outlet center in Brazil and is also beginning development on the first upscale outlet center in Canada. "Outside the U.S., the outlet sector is still in the earlier stages of development and growth," said John Klein, president of Simon's Premium Outlets division.
ING Real Estate is expected to open its $200 million expansion to the Lakeside Joondalup shopping center in Australia on Dec. 4. The expansion has doubled the size of the mall and will include 120 new shops.
Retailers will release their November sales figures Thursday, numbers that will include last week's busy Black Friday. Some analysts predict steep declines, with sales in some categories falling as much as one-fourth from last year.
Two Rivers Venture has acquired the 25,000-square-foot retail portion of the Two Rivers Plaza center in Bolingbrook, Ill., from 3900 Pine Grove Inc. for $8.2 million. The center is shadow-anchored by Jewel/Osco and Target.