Pharrell Williams and Emmitt Smith are among the investors vying for the right to redevelop a mall in Norfolk, Virginia. The rapper and NFL Hall of Fame running back are on competing development teams for the project at the Military Circle Mall, according to the Virginian-Pilot. Slammed by the pandemic, malls are gaining renewed attention as potentials for massive redevelopment. Williams, a Virginia Beach native, is part of a team that includes developers Armada Hoffler
Return of the retailer: Century 21 relaunches
Attention shoppers: Century 21 is coming back. The New York-based discount retail chain that built a loyal following but folded after declaring bankruptcy in September, announced its planned return last week. In a statement on Tuesday, Century 21 Stores said the decision to relaunch came “in response to the outpouring of love from the Big Apple and the admiration” of their “loyal shoppers from around the world.” The announcement was light on details, but the
Taubman’s $475M Mall of San Juan gets “knocked out” after reopening
The Mall of San Juan, in Puerto Rico’s capital, opened to great fanfare in 2015. But the last five years haven’t been kind to the $475 million upscale shopping center, which has grappled with retail bankruptcies, natural disasters and the coronavirus pandemic. Today more than a third of the 631,000-square-foot mall is empty and the property will soon lose its last remaining anchor store, Nordstrom, according to Bloomberg. The mall’s rising vacancy and mounting financial