Strategy

Bryn Mawr, Pa. -- WP Realty and Angelo, Gordon & Co. announced the acquisition of the Shaw’s portfolio, consisting of seven Shaw’s-anchored shopping centers and one free-standing Hannaford Bros. located throughout Massachusetts, Maine and Rhode Island.

The portfolio totals 659,143 sq. ft, is 97% leased and contains a mix of national, regional and local tenants. Shaw’s occupies 419,098 sq. ft. across the portfolio, Hannaford Bros. occupies 45,882 sq. ft., Staples 23,942 sq. ft., among others.
 

Frisco, Texas -- New York City-based Centro Properties Group said that The Foundry Big & Tall Supply Co. has opened at Preston Ridge, located in Frisco, Texas.

The 5,000-sq.-ft. store is part of the new Growth Brands Division at J.C. Penney Co.

Preston Ridge is owned by Centro.
 

Walmart acquired a minority interest in Chinese e-commerce company Yihaodian, the company announced Friday morning. Yihaodian was launched in July 2008 and currently offers 75,000 products and next-day delivery on essential items from an existing logistics network in Shanghai, Beijing and Guangzhou.

New York City -- Safeway’s store in the Georgetown section of Washington, D.C, has earned LEED (Leadership in Energy and Environmental Design) certification. The 71,067-sq.ft. store is the grocer’s second LEED-certified store, and the first LEED certified store in DC.

New York City -- Veteran retailer Leo Kahn, who developed his family-owned wholesale business into the Purity Supreme chain, co-founded Staples, and pioneered selling natural foods in supermarket-sized venues, died on Wednesday in Boston. He was 94.

New York City -- Target Corp. and United Food and Commercial Workers Local 1500 have settled a dispute regarding which workers may cast ballots in a union election at the retailer's Valley Stream, N.Y., store, paving the way for the National Labor Relations Board to schedule the vote, Crain’s New York reported.

The election next month will apparently be the first at a Target store since 1990, when a union drive failed at a Detroit store.

Fort Worth, Texas -- Trademark Property Co. said it is relaunching its WestBend mixed-use development in Fort Worth, Texas.

The move comes after strategically halting construction in fall of 2008 to wait for a recovery in the retail market. The first order of business will be the completion of the seven-level garage providing 798 parking spaces to serve the existing office buildings and restaurants. Additional new retail construction is slated to begin in mid-2012 with a grand opening projected for late 2013.

SAN FRANCISCO — Gap Inc. has announced plans to bring the Gap brand to Serbia and Ukraine through new agreements with existing franchise partners. The stores are scheduled to open in 2011 in the cities of Belgrade and Kiev where customers will be able to shop products from Gap, GapKids and babyGap.