Archive for the ‘Shopping Center’ category

Weekly Retail Recap July 23rd, 2010

July 23, 2010

WEEKLY RETAIL RECAP

  • Menard wins Wisconsin Supreme Court appeal
    The Wisconsin State Supreme Court has sided with home-improvement retailer John Menard, who sought to overturn an arbitration decision in a wrongful termination case against his former general counsel.
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  • NPD: More digital games purchased in stores than online
    According to the PC Games Digital Downloads: Analyst Report, from The NPD Group, in 2009, 21.3 million PC Game full-game digital downloads were purchased online in the United States compared with 23.5 million physical units purchased at retail during the same period.
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  • Roundy’s to expand in Chicago
    Grocery retailer Roundy’s said it has plans to open between 12 and 18 stores in the Chicago area over the next five years under the Mariano’s Fresh Market banner, according to a report by Supermarket News.
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  • Sprouts offers high-efficiency HVAC, refrigeration solutions
    A new Sprouts Farmers Market that opened late June in Culver City, Calif., is projected to use 50% less refrigerant than the industry average, thanks to high-performance heating, ventilation, air conditioning and refrigeration solutions that meet the company’s sustainability objectives.
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Institutional Investors Throwing Big Money Around Over A-Quality Retail Property

November 14, 2009

Wednesday November 11, 2009 08:04 PM

After what’s seemed like an eternity of little or no action in the retail property investment arena, several major retail investment transactions north of $100 million have surfaced since October. Considering that news of retail property sale transactions higher than even $25 million have been few and far between for the past year, does this latest string of large deals signify the start of a …

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Columbia Properties buys East Cobb’s Merhcants Exchange

October 19, 2009

Columbia Properties, Inc. announces its $17 million purchase of Merchants Exchange, a 130,013 square foot shopping center in east Cobb county, Ga. Merchants Exchange is a 98 percent leased neighborhood-oriented shopping center, anchored by LA Fitness® and Picture Show movie theater.

“Through our long-standing relationship with BB&T, we were able to secure a below-market loan providing our investors with a well-located, stabilized asset generating a high return,” says Andy Campbell, partner, Columbia Properties.

Columbia Properties has plans to acquire additional retail assets in the metropolitan Atlanta area over the next 12 to 18 months. “Great investment opportunities in retail real estate are beginning to present themselves and we feel we’re well positioned to take advantage of those opportunities,” continues Campbell.

Merchants Exchange is located at the intersection of Upper Roswell Road and East Cobb Drive in Marietta, Ga. East Cobb county is one of the most established and affluent submarkets in the Atlanta metro area, and Merchants Exchange benefits from a strong demographic of residents with high household incomes.

Kohl’s, TJX, J.C. Penney and Macy’s beat expectations

October 12, 2009

Chain Store Age

New York City ( October 8, 2009 )

Many department store retailers turned in better-than-expected performances in September, led by Kohl’s Corp. and TJX Cos.

Kohl’s said Thursday that its same-store sales climbed 5.5% in September, surpassing analysts’ estimates, and raised its earnings outlook for the third quarter. Total sales for the five weeks ended Oct. 3 rose 9.6%, helped by robust sales of accessories.

TJX Cos. also turned in a strong performance, reporting a 7% increase in its September same-store sales, beating analyst estimates and leading the discount retailer to raise its guidance for the third and fourth quarters.

“We saw strong trends continue in September, and customer traffic counts accelerated beyond their already-high levels,” said CEO Carol Meyrowitz in a statement. Year-to-date, same-store sales rose 4%.

At J.C. Penney Co., same-store sales slipped 1.4%, a smaller drop than analysts predicted. The retailer raised its guidance based on the better-than-expected results.

Macy’s also beat expectations, with a 2.3% decline, better than the predicted 4.6% decrease.

Dillard’s said its same-store sales dropped 6%.

In the luxury sector, Saks said its September same-store sales fell 11.6% in September on softness in all merchandise categories, as even more-affluent shoppers continue to scale back on their luxury-fashion purchases. Analysts had expected a smaller sales drop-off of 11.1%.

Saks said results for its online division, Saks Direct, and Saks Off 5th, its outlet brand that offers discount designer clothing and accessories, were relatively strong during the month.

Nordstrom said its same-store sales slipped 2.4% in the September period, beating estimates for a 6% fall.

Marcus & Millichap to market Atlanta Trophy Retail

October 4, 2009

100% Leased Shopping Center, Kroger Outparcels, Atlanta(MSA)

September 22, 2009