Activity is heating up again on the Simon/General Growth Properties front, as the industry looks into Simon's revised plan for General Growth's reorganization. Meanwhile, the reporters at The Boston Globe do an inspired bit of freakonomics in their tracking of Staples-sold pens as a leading economic indicator. For this and other stories about retail and retail real estate, follow the links below:
- Simon will present its revised reorganization plan to the General Growth board of directors tomorrow, according to Chicago Real Estate Daily.
- General Growth investor Bruce Berkowitz says Simon's offer still doesn't make sense as it will give Simon too much power over tenants, reports Business Week.
- Here, investor Todd Sullivan, of Valueplays.net, offers his view on the bid.
- Calculated Risk reports that American Institute of Architects' Billings Index, a leading measure of investment in commercial real estate, continued to contract in March.
- Department store chain J.C. Penney plans to grow sales in next three years by focusing on apparel, accessories and home goods, according to the Dallas News.
- The Boston Globe reports that Staples has been selling more rollerball pens in recent months, a possible sign the economy is improving.
- Benjamin Property Group offers shopping centers owners tips on effective use of social media.