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BEIRUT, Lebanon, Nov. 13 — In the upscale center of Beirut, the normally somber atmosphere at the graveside of the assassinated former prime minister, Rafik Hariri, is increasingly tense.
In the last decade, the town has been trying to regain its former image as a more upscale center of culture and relaxation.
A consultant's report agreed with the council, concluding that an upscale center would only draw shoppers away from Los Cerritos.
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"In effect, these upscale centers are upscale department stores with an upscale selection".
While traditional shopping centers depend on anchor stores to bring in customers, upscale centers like the Americana Manhasset and Woodbury Village do not, retailing experts say.
Yet all of the upscale centers unabashedly use their poshness as a key selling point, displaying images of tanned patients playing volleyball and sailing, or showcasing polished hardwood floors and ocean vistas in their brochures.
Michigan Gov. Jennifer Granholm Tuesday signed into law a measure that helps upscale mall owner Taubman Centers in its effort to thwart a hostile takeover bid.
Simon Property Group Inc. and Westfield America Trust said Monday they extended their cash takeover offer of $20 per share for upscale mall owners Taubman Centers Inc. until midnight May 30.
Simon Property Group said on Wednesday it raised its bid for upscale mall owner Taubman Centers to $20 per share from $18, and that the U.S. unit of Aussie real-estate investor Westfield America Trust would become its partner in the offer.
In other news, mall owners Simon Property Group and Westfield America Trust pulled their $1.74 billion takeover offer for upscale mall operator Taubman Centers, after Michigan's governor inked an anti-takeover law.
Its northern section, known as Short Hills, gives its name to an upscale shopping center, the Mall at Short Hills.
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