REAL ESTATE

Phillips Edison buys Jacksonville Center for $25 million
Phillips Edison has acquired the Harbour Village Shopping Center in Jacksonville for an estimated $24.9 million, according to the Jacksonville Business Journal. The center was sold by a joint venture of MMG Equity Partners and Global Fund Investments, which purchased it in a foreclosure sale for $12.6 million in 2011. At that time, Harbour Village was 86% occupied.
Executive moves at Publix
Publix Super Markets has promoted Bob McGarrity, director of construction, to VP of facilities. McGarriity replaces 42-year company veteran Dave Duncan, who has announced his decision to retire effective Dec. 31, 2016. In other appointments, VP of real estate Jeff Chamberlain will be promoted to senior VP, overseeing real estate and facilities, effective Jan. 1, 2017.

Summerlin master-plan community to host Las Vegas Black Knights

Las Vegas’s first major sports franchise, the National Hockey League’s Black Knights, will build a practice facility in the Summerlin master-plan community west of the Strip.
Accruent acquires Verisae

Accruent, a leading global provider of real estate, facilities and asset management solutions, has acquired Verisae, a provider of cloud-based solutions that connect facilities and assets to the maintenance and service network through the Internet of Things (IoT).
And the retailers adding the most new store space are…

Dollar stores and off-price chains account for half of the spots on a list of 10 retailers adding the most new store square footage, according to commercial real estate and analytics firm CoStar. Walmart tops the list, followed by Dollar General and Forever 21, according to a report by the Chicago Tribune. Click here to read more.
dd’s Discounts expanding into new market

dd's Discounts, a division of Ross Stores, will open its first store in Colorado on Sept. 24. The new 20,000 sq. ft. store is located at University Square Plaza in Greeley, Col. It is part of the company's 2016 expansion plan to add approximately 20 dd's locations nationally throughout the year. With the opening, dd's will operate 193 locations in 15 states.
Nordstrom Rack’s set to open at New Orleans’ Riverwalk

A “Rally at the Rack” party is planned for Oct. 6 in downtown New Orleans for the opening of Nordstrom Rack’s store at The Outlet Collection at Riverwalk. Nordstrom Rack will anchor the south side of the center, which owner Howard Hughes Corporation bills as the nation’s first downtown outlet location. Among the 75-or-so retail brands already doing business there are Guess Factory Store, Kay Jewelers Outlet, Neiman Marcus Last Call Studio, Reebok Outlet Store, and Wilson’s Leather.
Small-format Kohl's stores to open in the Midwest

Kohl’s Corp. is expanding its smaller-store format. The retailer is opening six, smaller-format stores on Sept. 30, all in the Midwest, the Milwaukee Business Journal reported. The locations are all in the Midwest, with two in Wisconsin, and one each in South Dakota, Minnesota, Illinois and Indiana. The stores average approximately 35,000 sq. ft. each, according to the report.
Fox named VP at Divaris

Photo: George Fox Divaris Real Estate has named George Fox VP of sales and leasing at its Virginia Beach office. He will represent both landlords and tenants in North Carolina and Virginia, with a primary focus on the Hampton Roads market.
Now Trending: Online’s impact on store sales is vastly overstated

The narrative is well established: Online sales are rising dramatically and having a major impact on brick-and-mortar retailers. The facts, however, are not quite so cut and dried. Internet sales still account for a remarkably small overall percentage of U.S. retail sales. A quarter century after Amazon’s first shipment was mailed, the Web accounts for less than 9% of U.S. retail sales. With sales of $500 billion, Walmart alone is the equivalent of six Amazons.