Shopping Center/Mall Update: Tanger, Simon, Barclay

Tanger has acquired the Pinecrest complex on Cleveland’s east side. Photo: Courtesy of Tanger

Tanger (Greensboro, N.C.) acquires third full-price mall: The owner/operator of outlet and open-air shopping destinations has bought Pinecrest, a 640,000-square-foot mixed-use center in Orange, Ohio, on Cleveland’s east side. Anchored by Whole Foods Market, Pinecrest’s retail lineup includes Alo Yoga, UNTUCKit, Madewell, Sephora, Warby Parker, Indochino, Williams-Sonoma, Pottery Barn, REI and Nike, while its dining/entertainment options include Shake Shack, Kitchen Social, First Watch, Firebirds Wood Fired Grill, Silverspot Cinema and Pinstripes. The $167 million buy marks Tanger’s third full-price mall in the past couple of years. (It also operates 38 outlet centers.)

Simon (Indianapolis) updating Long Island mall: The redo of Smith Haven Mall in Lake Grove, N.Y., will include adding Zara and Sur La Table stores. The work is slated to start this summer and be completed next year. Those stores will join a recently opened Primark store, along with a new Mango locale, along with more than 130 other stores. Slated to open in March is the Golf Lounge 18, featuring a full bar and multiple TVs.

Barclay Group (Phoenix) developing Kroger-anchored centers: The company has been in the midst of opening seven Kroger-anchored shopping centers in the West over the last 15 months, including two in January: The Flying Horse in Colorado Springs, Colo., anchored by a Kroger King Sooper’s Marketplace, and Morrison Ranch in Gilbert, Ariz., which has a Kroger Fry’s Marketplace. Slated to open later this year are two complexes that will be home to Fry’s locales: Heritage West in Buckeye, Ariz., and Sycamore Farms in Surprise, Ariz.