Southlake Mall, which has been Northwest Indiana s premier shopping destination since it opened in 1974, is again under new management after its owner defaulted on debt in Israel and now reportedly faces foreclosure.
California-based Pacific Retail Capital Partners and New York City-based Golden East Investors were appointed to oversee seven Starwood malls, including the 1.36 million-square-foot Southlake Mall at U.S. 30 and Mississippi Street in Hobart.
The holders of bonds totaling 910 million Israeli shekel, or about $250 million, selected the companies late last year as trustees to manage Southlake, as well as Belden Village Mall in Canton, Ohio; Capital Mall in Olympia, Washington; Great Northern Mall in North Olmsted, Ohio; Parkway Plaza in El Cajon, California; Plaza West Covina in Covina, California; and Franklin Park Mall in Toledo, Ohio.
U.S. retail sales could rise as much as 8.2% to more than $4.33 trillion this year as more people get the COVID-19 vaccine and the economy reopens, the National Retail Federation (NRF) said on Wednesday.
The City of Winnipeg is bringing back some its temporary employees who were laid off earlier in the pandemic, as it begins to reopen its libraries and fitness facilities.