Retailers lining up for Candlestick Mills.SAN FRANCISCO--(BUSINESS WIRE)--May 29, 1997--DeBartolo Entertainment, The Mills Corporation The Mills Corporation was a publicly traded real estate investment trust headquartered in Chevy Chase, Maryland, United States, acquired on April 3, 2007 by an investment group comprised of Simon Property Group and Farallon Capital Management. and Simon DeBartolo Group announced today that more than 40 retailers have expressed interest in store locations at the proposed Candlestick Candlestick A price chart that displays the high, low, open, and close for a security each day over a specified period of time. Mills shopping center at Candlestick Point. The announcement came following the conclusion of last week's International Council of Shopping Centers The International Council of Shopping Centers (ICSC) is an international trade association of the shopping center industry. The organization, founded in 1957, has 65,000 members worldwide, which include shopping center owners, developers and managers, as well as other individuals, convention in Las Vegas. Major retailers who have expressed interest in Candlestick Mills include Off 5th Saks Fifth Avenue Saks Fifth Avenue is a chain of upscale American department stores that is owned and operated by Saks Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes in the elite luxury department store market with Neiman Marcus, Bergdorf Goodman and Barneys New Outlet, American Wilderness Experience, Virgin Megastore, Gameworks, The Sports Authority, Off Rodeo Drive Beverly Hills, Gap Outlet Inc., Group USA, Charlotte Russe, Reebok Ree´bok` n. 1. (Zool.) The peele. , Anchor Blue, Foozles, Athlete's Foot athlete's foot: see ringworm. athlete's foot Form of ringworm that affects the feet. In the inflammatory type, the infection may lie inactive much of the time, with occasional acute episodes in which blisters develop, mostly between the toes. , Greg Norman Golf, Nine West Outlet and Just for Feet. These tenants and others offering a wide selection of fashion for the entire family, accessories, housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. and more have already reserved over 500,000 square feet, or approximately one-third of the proposed 1.4 million square foot shopping center. Mills' Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Laurence C. Siegel commented, "We are delighted by the commitment shown by these tenants at this early stage of our development program. We look forward to bringing the Mills' experience to San Francisco and Northern California. Candlestick Mills will be a combination of world class shopping, offering value and selection, as well as dining and entertainment venues unmatched in any other retail format." The proposed Candlestick Mills super-regional value and entertainment-oriented project will be located just five miles from downtown San Francisco, on the site of the existing 3Com Stadium. The project will be integrated with the planned San Francisco 49ers San Francisco voters will decide the outcome of the project when voting on Propositions D and F on the June 3, 1997 ballot. Proposition D authorizes the city to issue $100 million in bonds to pay for its share of the sports stadium, and Proposition F amends zoning ordinances at the site. Pending the outcome of the vote, the three developers will commence additional due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. studies relating to demographics, traffic, engineering and overall feasibility of the site. A recently released market research study, conducted by noted real-estate analysts The Sedway Group, reports that Candlestick Mills has the most favorable demographics of all Mills centers. "The increasing interest of major retailers, the positive findings of The Sedway Group and the growing support of San Francisco voters show that this project can't miss," said Mark Rivers, Senior Vice President of DeBartolo Entertainment. He added, "And to top it off, we have the Super Bowl champions <onlyinclude>This is a list of Super Bowl champions, that is, all the franchises that have won the championship game of the National Football League. Super Bowls are held in an American city that is chosen years in advance. of the real estate industry on our team -- The Mills Corporation and Simon DeBartolo Group." DeBartolo Entertainment is a leading national development company recently created to capitalize on the growth of entertainment-based real estate. The company's primary focus is the development of entertainment centers; the creation of specialty retail and food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. concepts; and the refinement of a sports marketing program into specialty uses within a real estate context. DeBartolo Entertainment is chaired by Edward J. DeBartolo, Jr., who is also a director in Simon DeBartolo Group, Inc. Simon DeBartolo Group, Inc., headquartered in Indianapolis, is the largest publicly traded real estate company in North America as measured by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and currently has approximately 158 million shares and partnership units outstanding. It is a self-administered and self-managed real estate investment trust which, through its subsidiary partnerships, is engaged primarily in the ownership, development, management, leasing, acquisition and expansion of income-producing properties, primarily regional malls and community shopping centers. Simon DeBartolo Group currently owns or has an interest in 186 properties which consist of regional malls, community shopping centers and specialty and mixed-use properties containing an aggregate of 113 million square feet of gross leasable area Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. in 33 states. Simon DeBartolo Group, together with its affiliated management company, manages approximately 129 million square feet of gross leasable area in retail and mixed-use properties. In addition to the Candlestick Mills partnership, Simon DeBartolo Group, Inc. has partnership interests with The Mills Corporation in Ontario Mills, Grapevine Mills, Arizona Mills and Concord Mills. The Mills Corporation is a fully-integrated, self-managed real estate investment trust based in Arlington, Va. The Company currently wholly owns and operates four super-regional, value and entertainment-oriented malls: Potomac Mills (Washington, DC/ Baltimore), Franklin Mills (Philadelphia/Wilmington), Gurnee Mills (Chicago/Milwaukee), Sawgrass Mills (Fort Lauderdale/Miami/ Palm Beach) and 11 community centers across the United States. In addition, The Mills Corporation operates and owns 50% of a fifth super-regional, value and entertainment-oriented mall, Ontario Mills (Los Angeles), which the Company developed together with its partners the Simon DeBartolo Group and Kan Am. CONTACT: Kamer/Singer Matt Reid, 415/512-6800 Susan Goyette, 703/526-5146 |
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