Finance & Capital Management

Tech providers unveil key trends for 2014

Technology trends are rippling through the retail real estate universe. Among the most important are new apps that dig deeply into data and automate tasks such as site selection, identifying and diagnosing underperforming stores and much more. Then there are apps that analyze what is going on inside shopping centers and stores. Technology is also helping to address a major change in lease accounting rules.

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How we use technology is changing

The nation’s largest arts and crafts retailer plans to go public this year and the launch of a new ecommerce platform that gives Michaels Stores long overdue online sales capabilities is a key element of its growth strategy.

Rockville, Md. — Federal Realty Investment Trust has acquired controlling interests in two shopping centers in Affluent Monmouth County, N.J., for $161 million. Both the Grove at Shrewsbury and Brook 35 are located on Route 35 and serve the emerging bedroom and second home communities of Shrewsbury, Red Bank, Rumson, Fair Haven, Little Silver, and Middletown. The acquisition was made with a combination of downREIT units, cash and the assumption of $68 million of fixed rate debt secured by the properties.

Japanese apparel retailer Fast Retailing remains deliberate in its approach to growth of its Uniqlo brand in the U.S. with plans for five more stores by mid-year.

There are currently 1,300 Uniqlo locations worldwide in 13 countries, but only 17 stores in the U.S. The five new stores the company is adding this spring and summer will be located in King of Prussia, Pa., Stamford, Conn., and Daly City, Concord, and Milpitas, Calif. The company’s other existing stores are clustered in the Northeast with and northern California.

Target “expects more and pays less” for data centers

The WhiteWave Foods Company has named Kevin C. Yost as president of the company’s newly acquired Earthbound Farm business. Charlie Sweat, previously CEO of Earthbound Farm, will move into an advisory role to ensure a smooth transition.

The rest of the Earthbound Farm management team will continue to serve in their current roles.

New York -- On Tuesday, Mexican retail company Grupo Gigante said in a regulatory filing that it will list shares in Office Depot de Mexico, the local division of the U.S. office-supply chain it purchased last year.

The listing would be public in Mexico and private in the United States and other markets.

New York -- Uniqlo will continue its expansion in the United States by opening five stores this spring/summer, including its first-ever location in the greater Philadelphia metropolitan area.
 
The five new Uniqlo stores scheduled to open in spring/summer are: