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Retail

Ascena’s new owners in hot water with mall owners

Mall operator Simon Property Group and its associated landlords have filed objections against the Mahwah-based mall retailer's Chapter 11 plan of reorganization after Ascena's purchaser, private equity Sycamore Partners, laid out its intentions to close more stores than originally agreed upon.

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Two business people assembling blank white jigsaw puzzles with concrete wall background

Centenarian jeweler elevates two to SVP, EVP

Anne Russell, the company's former vice president of merchandising, has been appointed as executive vice president of branding and merchandising; and Donna Bouchard, the company's former vice president of advertising and community relations, has been appointed as senior vice president of specialty business.

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Building Momentum

Few industries have seen greater pandemic-fueled disruption than the retail, restaurant and entertainment sectors, which struggled over the past year as the business of selling goods, services and experiences change swiftly and markedly. Yet amid the resulting challenges, there are signs of improvement and tangible progress. Leasing activity is picking up, and so – in turn – is construction. In fact, according to Levin Management Corp. CEO Matthew K. Harding and Maxim Gagneron, the company’s vice president of construction and development, construction activity throughout the commercial real estate services firm’s shopping center portfolio is back to pre-pandemic levels. In the following exchange, Harding and Gagneron weigh in on the North Plainfield-based company’s current activity, and the role construction plays in retail dealmaking and a property’s competitive positioning today and moving forward.

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Fair distribution

Community solar programs in New Jersey allow both renters and homeowners to take part in supporting renewable energy without purchasing or installing solar panels on their property. Instead, subscribers can claim a portion of a large solar development near them. The customer receives community solar credits for the clean energy that is produced by their portion of the solar project and these credits reduce the customer’s monthly electricity bill. Then, the customer pays the community solar project for these credits but at a 10% discount, guaranteeing savings every month.

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Suite spot

The office market was hit hard by the COVID-19 pandemic as executive orders forced companies to shut physical facilities. Landlords also incurred extra costs in preparing to reopen, installing new systems or implementing new protocols to ensure the health and safety of employees and occupiers.

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