Property Types Retail
Bellevue Square Shopping Center Undergoing $40M Renovation
May 6, 2008

Kemper Development Co. is giving the Bellevue Square regional shopping center a long overdue makeover, according to the Seattle Post-Intelligencer. The company, which owns about 10 percent of downtown Bellevue's commercial real estate, will spend an estimated $40 million to revitalize a property that has not undergone major changes since it was converted into an indoor mall in the 1980s. The project will take the city's Eastside area a step closer to its goal of becoming a coveted shopping destination. Kemper expects to wrap up the renovation of Bellevue Square in time to accommodate shoppers during this year's holiday season.

 
Recent Retail Headlines
Corus, Lehman Bros. Make D.C. Loans
Corus Bank closed a $72 million loan to MR BP Office #1 L.L.C. to finance the construction of a nine-story Class A office building located at 55 M Street SE in Washington, D.C.
H&M Opens First of Series of Atlanta Shops
The Swedish clothing retailer will debut its first in-town store at Atlantic Station on June 13.
JV Formed to Develop Suburban Des Moines Retail
Capital Growth Madison Marquette of Minneapolis and DRA Properties L.L.C., an Ankeny, Iowa-based real estate company, have formed a partnership to develop about 500,000 square feet of retail space in Ankeny.
Barneys CEO Officially Resigns
Following several rumors and reports of the resignation of its CEO, Barneys New York has officially announced that Howard Socol, chairman, president and CEO of the company, has resigned.
Macy's Announces Openings in Southwest
Cincinnati-based Macy's Inc. announced plans to open three new Macy's stores in the Phoenix market within the next two years.