Strategy

Tilly’s has appointed Jon Kubo to serve in the company’s newly created position of chief digital officer, effective Aug. 15.   Kubo will oversee e-commerce and digital marketing to define a long-term vision for the specialty retailer’s digital commerce efforts and create consistency in digital consumer experiences across all interaction points.  

Dollar General continues to expand its store portfolio at a rapid pace.   The discounter on Monday opened its 13,000th store, in Birmingham, Alabama. The company operates approximately 675 stores in Alabama.    The new store is one of the planned 900 new stores Dollar General expects to open in 2016.

Two long-tenured retail real estate veterans have joined CBRE Group’s retail services teams in key Ohio markets.    New to CBRE’s Cincinnati office is Melissa Ruther, whose 15-year career has included stints in both leasing and tenant representation at Anchor Associates, Edge Real Estate Group, and most recently JLL. A CBRE press release made note of her strong relationships with retailers, developers, and the brokerage community.  

Tanger Factory Outlet Centers, Inc., acquired 100% ownership of Tanger Outlets Savannah, adjacent to the Savannah International Airport. The deal it made with its lone partner in the 420,000-sq.-ft. center included a $15 million cash payment and assignment of all outparcels on the property.   "The center is currently 99% occupied and is undergoing a second expansion to accommodate retailer demand for space," said Steven B. Tanger, president and CEO.   

Schimenti Construction will play a major role in the opening of the Westfield World Trade Center retail center and transportation hub in downtown Manhattan on Aug. 16.    The Ridgefield, Conn.-based firm served as the general contractor for nine stores in the new retail and center, developing spaces for Banana Republic, H&M, Fossil, Victoria’s Secret, Under Armour, COS, Breitling, & Other Stories, and Cole Haan.  

To understand the current state of the Detroit real estate market, and to appreciate how and why Detroit is such a hot market today, we have to look to the past. Historical context is crucial here because, more than most cities, the story of Detroit is the story of a city shaped by its past. In many cases, the building blocks of today’s development boom are being literally and figuratively laid across foundations that were laid years ago.  

J.C. Penney Co. continues to make progress in its turnaround efforts as its narrowed its second quarter loss and posted a gain in same-store sales even as Macy’s and Kohl’s posted declines.    The retailer also reaffirmed its full year forecast of a 3%- to 4% increase in same-store sales.    It’s been a busy few months for Penney, which has been opening expanded appliance departments and testing in-store partnerships with Ashley Furniture and Empire Today.