Strategy

Ellicott City, Md. -- Investment Program Association announced it is honoring Daniel L. Goodwin, principal and chairman of Inland Real Estate Group with its Lifetime Achievement Award. The award was recently presented at the IPA Annual Conference.

Oak Brook, Ill. -- Inland Real Estate Acquisitions, Inc. announced it facilitated the acquisition of 13 properties purchased in October by Inland related parties. The acquisitions total more than 1.65 million sq. ft. across nine states for a total purchase price of more than $432.2 million. The properties acquired include a student housing community, six shopping centers and single-tenant retail stores.

The 13 properties consist of:

Target Corp. is bringing its smaller-sized, urban format to one of lower Manhattan’s trendiest — and wealthiest — neighborhoods.

The retailer will open an approximately 45,000-sq.-ft. store on Greenwich Street in Tribeca, near Battery Park, a fast-growing and affluent residential area, and the Financial District.

The two-level store is scheduled to open in October 2016. It is located in a 14-story, 625,000-sq.-ft. mixed-use building, whose landlord is Jack Resnick & Sons.

Lowe's has appointed an executive of the health insurance industry to its board of directors.

The retailer said that its board of directors has appointed Bertram L. Scott, 65, to the board, effective immediately. The announcement brings Lowe's board of directors to 12 members, 11 of whom are independent.

Home goods and Sephora helped JCPenney turn the page on the next chapter of its story of transformation by exceeding top-line growth expectations in the third quarter.

For its third quarter ended Oct. 31, the company reported net sales of $2.90 billion compared to $2.76 billion in the third quarter of 2014. Same store sales increased 6.4 % for the period. JCPenney cut its loss by 27% to $137 million, or 45 cents a share. Total sales increased 4.8 percent to $2.9 billion versus $2.76 billion last year.

Target's board of directors has added a former executive of the retailer's largest supplier.

The board announced it has elected Melanie Healey, former group president, North America, of the Procter & Gamble Company, as a new director, effective immediately.

Strong back-to-school sales allowed Kohl's to upstage Macy's in the third quarter.

Kohl's revenue rose a better-than expected 1.2% to $4.43 billion in the period ended Oct. 31. Same-store sales rose 1%. Earnings fell to $120 million, or 63 cents a share, from $142 million, or 70 cents a share, a year earlier. Excluding a loss on the extinguishment of debt, adjusted per-share earnings were 75 cents a share, which also beat expectations.

Apple Inc. may be planning an entry into the fledging industry of mobile person-to-person payment.

According to the Wall Street Journal, Apple is in discussions with several banks to develop a service that would let consumers make mobile payments to each other, rather than use cash or personal checks. The service would be in direct competition with the Venmo mobile payment platform from PayPal, which is popular among millennial consumers.