Wednesday, May 23, 2018

Mall News

GNC Holdings, Inc. plans to close some 200 stores this year, depending on the outcome of lease renegotiations or relocation opportunities, which are ongoing, and expects few new stores to open this year. Sears is closing 40 more stores, including 31 Sears stores and 9 Kmart stores in 24 states, in addition to the 166 stores the company said it would close this year. Most will close in July and August..Simon Property Group met with the Burlington, MA Planning Board to discuss a proposed project for the former Sears and Sears Automotive sites at the Burlington Mall. The plan calls for expanding the mall corridor into the existing Sears space and creating numerous small retail and restaurant locations, and demolishing the Auto Center to create a 35,000 square foot building for small retail and restaurant locations. There will be pedestrian-friendly connections between the two buildings and improvements to landscaping and greenspace. Simon  and Marriott International plan to develop 5 hotels under various Marriott brands at Simon shopping centers over the next few years, two in Florida, and one each in New York, Texas and Tennessee. Currently there are more than 15 Marriott-branded hotels at Simon properties.

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