Sep. 23, 2009 (PR Newswire) --
LAKEWOOD, N.J. Sept. 23 /PRNewswire/ -- The Lightstone Malls, owned and operated by The Lightstone Group of New York City and Lakewood, N.J., report that their regional malls located in secondary markets across the country are producing several new deals with key national brands.
Carl Chudnofsky, executive vice-president of the Lightstone mall portfolio states, "We are very fortunate to announce that we will be opening new stores in our malls in 2010 with key national brands The Buckle, The Dress Barn, Hobby Lobby, Restaurateur Buffalo Wild Wings, The Carmike Theater group, as well as a major national department store chain to be named shortly."
The hot new 7,500 square foot Buffalo Wild Wings is currently under construction in Shawnee, Oklahoma. Hobby Lobby, the #1 consumer requested store in Shawnee, will open a 59,000 square foot store in Shawnee. In addition, Carmike Theaters will also open in Shawnee in early 2010. The Buckle and the Dress Barn are scheduled to open up in early Fall of 2010 in Dakota Square in Minot, North Dakota. Both stores have shown very strong positive sales results throughout the economic downturn on a national basis. Dakota Square currently shows sales of $425 per square foot.
Chudnofsky goes on to say that he has seen an uptick in sales in September. The unemployment in these secondary markets is substantially lower than the national averages. "We see a stronger reaction by the consumer in these smaller markets and the retailer recognizes it," noted Chudnofsky.
About The Lightstone Group
The Lightstone Group is one of the country's largest privately held real estate companies with interests in residential, office, retail, hospitality and industrial real estate assets. Principally through its operating entities including Prime Retail, Prime Group Realty Trust and Beacon Management, the company owns a diversified portfolio of more than 19,000 multifamily units and 24 million square feet of office, industrial, hotel and retail properties in 27 states, the District of Columbia, and Puerto Rico. Headquartered in New York, The Lightstone Group has approximately 1,150 employees and maintains regional offices in Maryland, Illinois and New Jersey. For more information, visit www.lightstonegroup.com.
SOURCE The Lightstone Group
