Suburban municipalities that in the 1980s courted office buildings as the perfect new source for coveted tax revenue -- nearly invisible neighbors with no impact on school systems -- now accept the fact that some of those buildings will be replaced with apartment complexes and mixed-use projects. In … [Read more...] about 7.11.22: SUBURBAN OFFICES MORPH TO RESIDENTIAL AND OTHER USES
12.19.19: MACK-CALI DIVESTING SUBURBAN OFFICE HOLDINGS
On December 19, 2019, Mack-Cali Realty Corporation (NYSE: CLI) announced that it will be divesting all of its suburban office holdings -- spanning 6.6 million square feet -- in 2020, as recommended by its shareholder committee. The company has already approved the sale of two of its N.J. office … [Read more...] about 12.19.19: MACK-CALI DIVESTING SUBURBAN OFFICE HOLDINGS
6.12.18: Simon Wins Battle of the Outlet Mall in Suburban St. Louis
In 2013, Simon Property Group and Taubman Centers Inc. both built outlet center projects in Chesterfield, Missouri, which is in the St. Louis area. At the time, experts believed the trade area could support only one traditional outlet center, but neither company would back down from proceeding, … [Read more...] about 6.12.18: Simon Wins Battle of the Outlet Mall in Suburban St. Louis
