Unibail-Rodamco-Westfield sells Long Island mall for $29.7M

first_imgEmail Address* Message* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink In October, Newsday reported that Urban Edge was in talks with Unibail to acquire the Massapequa mall. The shopping center’s problems predate the pandemic; since 2015, it’s lost several large tenants, including JC Penney and Wal-Mart. Oyster Bay Supervisor Joseph S. Saladino told the publication in October that elected officials were interested in seeing the property be redeveloped to function as a community hub, or to bring new jobs to the town.“We’d like to see this site flourish as a new economic hub to ensure that revenue derived by the school district is never shifted to the residential taxpayers,” Saladino told Newsday.Urban Edge’s properties include several shopping centers on Long Island, such as Huntington Commons, Burnside Commons and Meadowbrook Commons. Earlier in 2020, it also acquired a large mixed-use shopping center in southern Brooklyn.The seller, URW, has faced some issues this year as the pandemic has forced malls to shut down. The retail landlord and investor reported that rental income from U.S. operations fell to $464 million in the third quarter, a 39 percent decrease year-over-year. It also reported that it’s operating at a $6.3 billion net loss.Contact Sasha Jones Tagslong islandRetailshopping mallstristate-weeklycenter_img Photo Illustration of Urban Edge CEO Jeff Olson and Sunrise Mall in Massapequa, NY. (Getty, Urban Edge) A 1.2 million-square-foot mall in Massapequa, New York, is under new ownership.Retail REIT Urban Edge Properties announced that it’s acquired Sunrise Mall in Nassau County from Unibail-Rodamco-Westfield for $29.7 million, plus as much as $6 million of additional contingent consideration.The mall is spread out over 77 acres, with anchor tenants that include Macy’s, Sears and Dick’s Sporting Goods. It’s currently just 65 percent occupied.“Sunrise Mall is a unique asset with a prime location in a dense, attractive region along the southern shore of Long Island,” said Jeff Olson, Chief Executive Officer of Urban Edge. “This acquisition provides a terrific opportunity for Urban Edge to leverage our redevelopment expertise in repurposing underutilized land and creating value.”Read moreUnibail-Rodamco-Westfield says its real estate is worth 11% less than last yearSouth Brooklyn mixed-use shopping portfolio trades for $165MUnibail-Rodamco sues Express over $30M in missed rent Share via Shortlink Full Name*last_img read more

Making use of the head

first_imgMove over metal fans — there’s a new head-banging king in town.As part of an investigation into how bees native to Australia pollinate tomato plants, Callin Switzer and colleagues stumbled onto a surprising find — to shake pollen out of the cone-shaped flowers, blue-banded bees bang their heads against them at a rate of 350 times per second.“It was pretty unexpected — it just made me think of heavy-metal bands,” said Switzer, a Harvard graduate student in the lab of Assistant Professor of Organismic and Evolutionary Biology Robin Hopkins. “I had shot some video of bees at the Adelaide Botanic Gardens, and when a colleague and I watched it, we said to each other, ‘Is it doing what I think it’s doing?’”Uncovering unusual behavior wasn’t Switzer’s initial aim.“Most of my work is on pollination and native bees like bumblebees,” he said. “When farmers bring in bees to pollinate their crops it’s most often honeybees, but certain plants — including tomatoes — can’t be pollinated by honeybees because of the way the plants release pollen.”Head-banging bees <a href=”https://www.youtube.com/watch?v=yV4FdnBfsjA” rel=”nofollow” target=”_blank”> <img src=”https://img.youtube.com/vi/yV4FdnBfsjA/0.jpg” alt=”0″ title=”How To Choose The Correct Channel Type For Your Video Content ” /> </a> While researching how bees native to Australia pollinate tomato plants, Harvard scientists stumbled onto a surprising find — to shake pollen out of the cone-shaped flowers, Australian blue-banded bees actually bang their heads against them at the headache-inducing rate of 350 times per second. Some flowers, Switzer said, are distinguished by a central, cone-shaped group of anthers, known as the anther cone, which releases pollen only through small pores.In most of the world, the job of shaking the pollen free falls to bumblebees.Studies have shown that the bees, which can be found in virtually every corner of the globe, pollinate the flowers by gripping the anthers with their mandibles, then using their powerful flight muscles to vibrate their entire body and shake the pollen from the plant.One of the few areas where bumblebees aren’t native, however, is Australia.That doesn’t mean tomato growers down under are out of luck. Local species — particularly the blue-banded bee — have taken up the tomato-pollinating mantle.The question Switzer and colleagues first set out to answer was whether Australian bees behaved similarly to bumblebees when pollinating flowers.“I was mostly interested to see if they were vibrating at the same frequency … and the amount of time they spend on each flower,” Switzer said. “There are some people who believe [those factors] may play an important role in how good bees are at pollinating, because if bees are visiting a greater number of flowers they’re probably more successful at pollinating.”To get definitive answers on exactly how blue-banded bees were pollinating the flowers, Switzer spent several days at the Adelaide Botanic Garden with a high-speed camera.“I started off getting videos that were zoomed out, because we can get good info from those, but when we looked at the video, it wasn’t clear if the bees were grabbing the anther with their mandibles,” Switzer said. “I went back the next day and zoomed it as close as I could get, and got videos of the bees banging against the flowers.”While Switzer and colleagues did find that blue-banded bees spend less time on each flower than bumblebees, it remains an open question whether one strategy is better than the other. The answer is much more than an academic matter.Approximately 8 percent of flowering plants ― an estimated 20,000 different species — are pollinated in the same way, Switzer said, so understanding the process could have effects beyond the farm and greenhouse.“We wanted to get more information about bees in Australia because there is still an ongoing debate about whether people should import bumblebees to pollinate tomatoes,” he said. “We didn’t answer the question of whether blue-banded bees are equally good or better than bumblebees … but there are studies that show blue-banded bees could be a viable alternative to bumblebees in greenhouses, and our data shows they’re spending less time on flowers and buzzing at a higher frequency, and those seem like good things.”last_img read more