Articles

Owner finding new tenants for former Macy’s

High-end custom homebuilder Moussa Khoury and a partner bought the former Macy’s store at Washington Square Mall in 2009 for about $775,000. They paid cash since commercial lending had vanished. Two years later, the investment has begun paying off.

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Prospects bright for Borders replacements

Brokers expect strong demand from other retailers, in part because the failed bookstore chain carefully chose its real estate, opting for locations near concentrations of affluent and educated consumers.

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Well-located Carmel retail center plagued by vacancies

Merchants’ Square shopping center, built in 1970 as the enclosed Keystone Square Mall and redeveloped into an open-air center and renamed in the mid-1990s, is riddled with vacancies and bracing for another high-profile departure, despite its prime location.

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Multiple tenants likely needed to plug Nordstrom hole

Nordstrom occupies a staggering 210,000 square feet spread across three floors—60 percent more space than the Seattle-based chain occupies at the Fashion Mall at Keystone and likely more than any single retailer would be willing to lease.

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Nordstrom closing Circle Centre store

Nordstrom plans to close its store at Circle Centre mall, dealing a substantial setback for downtown. The Seattle-based chain was scheduled to announce the closure to employees at a mandatory staff meeting Thursday morning, a person familiar with the plans told IBJ.

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