With everyone at ICSC, this week might have gotten to a slow start. But a lot of interesting news emerged this weekend, including speculation that private equity player the Blackstone Group is about to join Brookfield's offer for General Growth's reorganization and a report that Sears Holdings started testing laundromats at Kmart stores. For these and other stories about retail and retail real estate follow the links below:
- The Wall Street Journal reports that after Simon decided to pull out its bid for General Growth's reorganization, the Blackstone Group will likely join Brookfield's deal.
- Sears Holdings has started testing a laundromat at its store in Iowa City, according to the Chicago Sun-Times.
- Equity One Inc. agreed to buy the U.S. unit of Capital Shopping Centers, a British shopping center operator, according to Reuters.
- Opposition is already underway against Wal-Mart's plan to bring one of its stores to East New York, reports the New York Daily News.
- Reuters reports that financier Bennet LeBow has invested $25 million in cash in Borders, giving him a 15 percent stake in the bookseller and the position of chairman of the board of directors.
- A story in Fortune claims Home Depot continues to struggle.
- Bloomberg Businessweek ran a story on mall developer Rick Caruso, noting Caruso is looking to join the run for the post of Mayor of Los Angeles.
- Our sister publication Supermarket News reports that grocers are investing in smaller, cheaper store formats.