Cool Springs Galleria
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Cool Springs Galleria
CoolSprings Galleria is an enclosed super-regional shopping mall in the Cool Springs commercial and residential corridor between Franklin and Brentwood, Tennessee, south of Nashville. Opened in 1991, it features 150 stores. The anchor stores are JCPenney, 2 Belk stores, H&M, American Girl, Ulta Beauty, Dillard's, Forever 21, and Macy's. The major tenant is The Cheesecake Factory. CBL Properties developed the mall in a joint venture with the Edward J. DeBartolo Corporation, and has owned it since its opening; CBL also owns an adjacent power center called CoolSprings Crossing which was developed simultaneously. History CBL & Associates Properties (now CBL Properties), a shopping mall developer based in Chattanooga, Tennessee, first announced plans to build a shopping mall in Franklin, Tennessee in 1989. It would be situated at the interchange of Interstate 65 and Moores Lane (Tennessee State Route 441). CBL developed the mall through a joint venture with the Edward J. DeBartol ...
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Franklin, Tennessee
Franklin is a city in and county seat of Williamson County, Tennessee, United States. About south of Nashville, it is one of the principal cities of the Nashville metropolitan area and Middle Tennessee. As of 2020, its population was 83,454. It is the seventh-largest city in Tennessee. The city developed on both sides of the Harpeth River, a tributary of the Cumberland River. In the 19th century, Franklin (as the county seat) was the trading and judicial center for primarily rural Williamson County and remained so well into the 20th century as the county remained rural and agricultural in nature. Since 1980, areas of northern Franklin have been developed for residential and related businesses, in addition to modern service industries. The population has increased rapidly as growth moved in all directions from the core. Despite recent growth and development, Franklin is noted for its many older buildings and neighborhoods, which are protected by city ordinances. History ...
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Retail Park
A retail park is a type of shopping centre found on the fringes of most large towns and cities in the United Kingdom and other European countries. They form a key aspect of European retail geographies, alongside indoor shopping centres, standalone stores like hypermarkets and more traditional high streets. Cushman & Wakefield define a retail park as any shopping centre with mostly retail warehouse units, of a size or larger. Retail parks have a number of retailers in a single location, but as opposed to an indoor centre, there is no roof and they aren't therefore weather-proof. History Retail parks originate from out of town retail location containing big box retailers which are not suited to pedestrianised high streets, such as garden centres, home stores supermarkets. More recently, many high street retaillers have moved to retail parks, since retail parks offer cheaper rents and cheaper parking for customers. For example, in the UK, Marks and Spencer and Next have closed ...
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The Home Depot
The Home Depot, Inc., is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. Home Depot is the largest home improvement retailer in the United States. In 2021, the company had 490,600 employees and more than $151 billion in revenue. The company is headquartered in incorporated Cobb County, Georgia, with an Atlanta mailing address. It operates many big-box format stores across the United States (including the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands); all 10 provinces of Canada; and all 32 Mexican states and Mexico City. MRO company Interline Brands (now The Home Depot Pro) is also owned by The Home Depot, with 70 distribution centers across the United States. It has been involved in several controversies, primarily involving the security and safety of its consumers. History 1978–1999 The Home Depot was co-founded by Bernard Ma ...
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Service Merchandise
Service Merchandise was a retail chain of catalog showrooms carrying jewelry, toys, sporting goods, and electronics. The company, which first began in 1934 as a five-and-dime store, was in existence for 68 years before ceasing operations in 2002. History Service Merchandise's history can be traced back to 1934, to a small five-and-dime store founded by Harry and Mary Zimmerman in the town of Pulaski, Tennessee. After leaving the wholesale business, they opened Service Merchandise, Inc., the first of what evolved into a chain of catalog showrooms opened in 1960 at 309 Broadway in downtown Nashville, Tennessee. During the 1970s and 1980s, Service Merchandise was a leading catalog-showroom retailer. At its peak, the company achieved more than $4 billion in annual sales. As the company expanded, it began to open showrooms nationwide, mostly in the vicinity of major shopping malls, which were in vogue in the 1970s. In the early 1980s, the Service Merchandise headquarters moved from ...
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Target Corporation
Target Corporation (doing business as Target and stylized in all lowercase since 2018) is an American big box department store chain headquartered in Minneapolis, Minnesota. It is the seventh largest retailer in the United States, and a component of the S&P 500 Index. Target was established as the discount division of Dayton's department store of Minneapolis in 1962. It began expanding the store nationwide in the 1980s (as part of the Dayton-Hudson Corporation), and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed Target Corporation in 2000, and divested itself of its last department store chains in 2004. It suffered from a massive, highly publicized security breach of customer credit card data and the failure of its short-lived Target Canada subsidiary in the early 2010s, but experienced revitalized success with its expansion in urban markets within the United ...
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Sears
Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail ordering catalog company migrating to opening retail locations in 1925, the first in Chicago. In 2005, the company was bought by the management of the American big box discount chain Kmart, which upon completion of the merger, formed Sears Holdings. Through the 1980s, Sears was the largest retailer in the United States. In 2018, it was the 31st-largest. After several years of declining sales, Sears's parent company filed for Chapter 11 bankruptcy on October 15, 2018. It announced on January 16, 2019, that it had won its bankruptcy auction, and that a reduced number of 425 stores would remain open, including 223 Sears stores. Sears was based in the Sears Tower in Chicago from 1973 until 1995, and is currently headquartered in Hof ...
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The Avenues (shopping Mall)
The Avenues (also referred to and often known as Avenues Mall) is a two-level regional shopping mall located on the southside of Jacksonville, Florida, and opened in 1990 on the Interstate 95 corridor, and is off exit 339 at the intersection of U.S. 1 (Philips Highway) and Southside Boulevard. The mall, managed by Simon Property Group, which manages 25% of it, has a parking deck on the northwestern side. Its anchor stores are Belk, Dillard's, Forever 21, and JCPenney. Other stores located at the mall include Aldo, H&M, LOFT, BoxLunch, Build-A-Bear Workshop, MAC, LUSH Fresh Handmade Cosmetics, Pandora, and Le Macaron French Pastries. History The mall opened on September 26, 1990 with JCPenney, Maison Blanche (originally slated to open as May-Cohen's/May Florida), and Sears, followed by the opening of Dillard's (first proposed as Ivey's, which was purchased on June 4) in 1991, along with another at Cool Springs Galleria. Furthermore, Parisian was dedicated in 1994 ...
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Hecht's
Hecht's, also known as Hecht Brothers, Hecht Bros. and the Hecht Company, was a large chain of department stores that operated mainly in the mid-Atlantic and southern region of the United States. The firm originated in Baltimore, Maryland. By 2005, Hecht's had some 81 stores in 19 markets in Maryland, the District of Columbia, Virginia, North Carolina, Tennessee, Delaware, New Jersey, and Pennsylvania. Its locations in New Jersey, Delaware, and the majority of those in Pennsylvania were operated under the name of Strawbridge's. Hecht's administrative office was in Arlington, Virginia. Hecht's was founded and was operated for over a century (1857–1959) as a family firm. It was purchased in 1959 by The May Department Stores Company which in turn, was acquired by Federated Department Stores on August 30, 2005. On February 1, 2006, Federated dissolved the former May Company divisions, and the existing Hecht's stores were divided between Macy's East and Macy's South, with stores in ...
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Proffitt's
Proffitt's was a department store chain based in Alcoa, Tennessee. On March 8, 2006, the Proffitt's and McRae's stores were converted into Belk stores. Belk acquired the two chains in July 2005 from Saks, Inc. History Beginnings Jeweler David W. Proffitt and James Ellis founded the Ellis-Proffitt Co. on Main Street in downtown Maryville, Tennessee, in 1919. The first store had seven departments: ladies ready-to-wear, ladies accessories, millinery, men's shoes, dry goods, and bargain basement. Ellis sold his share of the company to Proffitt in 1921 due to illness. The company expanded by opening its second store in Athens, Tennessee in 1936. In the 1960s, the Maryville store moved from downtown to Midland Plaza in Alcoa. In 1982 the store relocated again to Foothills Mall in Maryville where two stores remained until the Belk acquisition, one for Women and the other for Men, Kids, and Home. A warehouse and distribution center opened in Maryville in 1970. A location i ...
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Castner Knott
Castner Knott was a Nashville, Tennessee-based regional department store chain which operated stores in Alabama, Kentucky, and Tennessee. The chain was in business for a century from 1898 to 1998, in its later years as a division of Mercantile Stores Company. Castner Knott's historic flagship location on Nashville's Church Street closed in 1996, while the remaining stores were among those sold to Little Rock, Arkansas-based Dillard's, when it acquired Mercantile in 1998. The five high-volume mall stores ( Bellevue Center, CoolSprings Galleria, Hickory Hollow Mall, The Mall at Green Hills and Rivergate Mall) in the greater Nashville area, where Dillard's already had locations, were sold to Saks Incorporated and rebranded as Proffitt's. The stores were then sold in 2001 to May Company, who, in turn, rebranded these locations as Hecht's. In 2006, those stores were converted to the Macy's name as a result of the May Company-Federated Department Stores merger. Macy's would eventu ...
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Anchor Store
In retail, an "anchor tenant", sometimes called an "anchor store", "draw tenant", or "key tenant", is a considerably larger tenant in a shopping mall, often a department store or retail chain. They are typically located at the ends of malls. With their broad appeal, they are intended to attract a significant cross-section of the shopping public to the center. They are often offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. Some examples of anchor stores in the United States are Macy's, Sears, JCPenney, Nordstrom, Neiman Marcus, Saks Fifth Avenue. Origins When the planned shopping centre format was developed by Victor Gruen in the early to mid-1950s, signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to the smaller shops in the centre as well. Anchors generally have their rents heavily discounted, and m ...
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Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates. He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to the DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies’ wholly owned and controlled affiliates ( ...
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