Midtown Shopping Center in Los Angeles is seeking to expand and upgrade to become a more pedestrian- and family-friendly destination. The retail center had been destroyed in the 1990s riots. It has acquired more land for its expansion.
The retail sector drove job growth in April, according to statistics from the government and ICSC. Retail jobs in shopping centers rose by 33,000, accounting for one-fifth of the 165,000 jobs added in April, ICSC said. Restaurants and bars hired an additional 38,000 people.
Urstadt Biddle Properties has acquired a retail center in New Milford, Conn., for $22.5 million. The 229,000-square-foot New Milford Shopping Plaza is anchored by a 102,000-square-foot Wal-Mart and a 72,000-square-foot Stop & Shop supermarket. Urstadt acquired the property from WestRidge Realty Advisors in an off-market deal.