Strategy

Brixmor Property Group has purchased Arborland Center, a 404,000-sq.-ft. center in Ann Arbor, Michigan, for $102 million. The center is anchored by Kroger and Nordstrom Rack and is situated between the University of Michigan and Eastern Michigan University.  

CBRE made known its intent to make an aggressive push in San Francisco with its December hire of Matt Kircher, a veteran of Terranomics with more than 20 years of leasing experience in Northern California. This week CBRE filled out the new director of leasing’s executive staff.   Joining Kircher are first vice presidents Jessica Birmingham, Annie Prupas, and Katie Singer; vice president Drew Greenspan; associate broker Meaghan Haley; senior GIS specialist Gary Palubicki; and client services coordinator Andrea Chavez.

A value-oriented regional department store chain could be the latest retail casualty.   Gordmans Stores Inc. is preparing to file for bankruptcy, Bloomberg reported, saying the filing could occur as soon as this month.    Founded in 1915, the Omaha-based retailer operates 106 stores in 22 states.  

KAI Total Pavement Management was recognized with Best Parking Lot Pavement Project award at the 2017 National Pavement Expo awards ceremony.   KAI Total Pavement Management received the award for the parking improvements project at the Target store in Kalispell, Montana.  

Decron Properties’ sale of a Target-anchored center in Las Vegas was its sixth disposition of an office or retail asset in the last two years as it continues to focus on multi-family housing projects.   The $17.5 million sale of the Flamingo Maryland center near the Las Vegas Strip added to a bank of $300 million in proceeds realized from the deals that the Los Angeles based company put toward the purchase of seven multifamily communities in California.  

The Michaels Companies is making a move to further inspire its hobbyists online.    A new partnership with online destination Craftsy is giving Michaels’ shoppers access to on-demand classes. Specifically, Michaels will leverage Craftsy's growing video library of more than 1,300 on-demand lessons from expert instructors sharing their crafting experiences.  

Every company has liquidation inventory: returned, excess, obsolete or damaged merchandise that can’t go back on store shelves. Though most organizations would rather not admit they have a need for it, liquidation is the rule – not the exception – in retail.  

Luxury department store retailer Neiman Marcus is looking for relief from its heavy debt.   The company has hired Lazard Ltd. to explore debt restructuring options, but it is no immediate risk of bankruptcy, reported Reuters.   

For good reason, retailers in recent years have sought to understand the shopping habits and preferences of the millennial generation. The oldest millennials, born in or after 1980, are now well into their thirties – and have certainly reached maturity as consumers. It’s now time to shift the focus and look at the next generation behind these millennials to see if they differ from their digital-savvy counterparts.    

Target’s omnichannel journey may have started five years ago, but newly-emerging digital touchpoints continue to change the game.   By leveraging machine learning to tap into customer demand, the mass merchandiser is defining which touchpoints are not only valuable, but influencing its shoppers’ paths-to-purchase. The initiative was discussed at the “Determining New Omni-KPIs To Hit Goals And Key Drivers” session at eTail West 2017, in Palm Springs, California, Feb. 27-March 2.