Marketing

New York -- Urban Edge Properties announced the acquisition of Pan Bay Center, located in the Howard Beach neighborhood of Queens, New York, for $27 million. The property includes almost the entire block on the west side of Cross Bay Boulevard between 156th Avenue and 157th Avenue.

The 50,000 sq. ft. property is currently 85% leased with local retail tenants on the ground floor and medical office tenants on the second floor. The property includes 97 parking spaces.

Saks Fifth Avenue has another store to its lineup at Brookfield Place in downtown Manhattan.

The retailer, a division of Hudson’s Bay Company, said it will open a 16,750-sq.-ft. dedicated men’s store at the center, in spring 2017. As previously announced, Saks will open an 85,000-sq.-ft. full line store at Brookfield Place.

Photo: Pete Van Helden has been named chief executive of Stater Bros. Markets

Retail business industry veteran Lawrence Jackson has been named to the board of directors of cloud-based enterprise retail technology provider Aptos Inc. (formerly Epicor Retail Solutions).

On-demand alcohol delivery app Drizly is in a growth mode. The start-up has an average transaction of around $70, about three times higher than a normal, average in-store transaction, the founders told Boston.com. [Boston.com]

The October 2015 launch of the Handmade at Amazon online arts and crafts marketplace was seen as a harbinger of doom for Etsy. However, Etsy CEO Chad Dickerson has publicly stated he doesn’t see Handmade at Amazon as a threat, and TheStreet reports that feedback from sellers on both platforms backs up Dickerson’s assertion. [TheStreet]

Amazon.com had a merry (and prosperous) holiday season, at least according to a limited set of statistics released by the e-tail giant.

Amazon touted the impact of mobile commerce on its 21st holiday season, reporting that nearly 70% of its customers shopped using a mobile device. However, Amazon did not break that figure down into how many shoppers actually made mobile purchases compared to those who browsed on a mobile device and bought through another channel.

The holiday season got off to a horrible start at Bed Bath & Beyond and things went downhill from there, judging from the industry leader’s uncharacteristic and concerning profit warning.

The company badly missed its third quarter sales and profit forecast for a period that included most of Thanksgiving weekend, and said its same-store sales for the fourth quarter were likely to increase 1%.