Corporate Governance

Regency Center has announced the start of a ground-up addition to a center in an affluent section of Miami.   The nation’s largest retail REIT will add 70,000 sq. ft. of retail to an existing 173,000-sq.-ft. Target on US- 1 to create the new center, called Pinecrest place. The bulk of the addition will be occupied by a 46,000-sq.-ft. Whole Foods Market.   Construction is expected to be completed in second quarter 2018.  

Kohl’s Cos. has a new chief marketer.   The retailer on Monday named former Best Buy marketing executive Greg Revelle as chief marketing officer. He will be responsible for Kohl’s marketing organization and overall marketing strategy, including its focus on driving customer engagement through analytics, enhancing the loyalty platform, accelerating customer traffic and continuing to build Kohl’s overall brand position. Revelle will report to Michelle Gass, chief merchandising and customer officer.  

Omega Sports has a new owner.    The Greensboro, North Carolina-based sporting goods retailer has been acquired by Craig and Kristin Carlock. Effective immediately, Craig Carlock, former CEO of specialty grocer The Fresh Market, is Omega’s new CEO.  

Shelby Crossings, a 76,390-sq.-ft. power center in the Detroit suburb of Utica, has been acquired by Beverly Hills, Michigan-based Grand Management & Development.   Mid-America Real Estate Corp., which represented the seller in the transaction, could not disclose the price.   The property features the Bed Bath & Beyond subsidiaries Christmas Tree Shops and BuyBuy Baby, and is surrounded by a larger regional center anchored by Target and Planet Fitness.

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Joe Coradino’s experience-driven rebuilding of PREIT malls has given kids in Pennsylvania something new to build on — or, more like, in.   The state’s first Legoland Discovery Center has opened in the Plymouth Meeting Mall, north of Philadelphia, pushing the percentage of the property’s dining and entertainment space above 45%, compared to an average of 17% at other PREIT malls.  

GameStop is the newest data breach victim.    The gaming retailer is investigating reports that hackers may have siphoned credit card and customer data from its website, according to security news firm KrebsonSecurity.   

Abercrombie & Fitch Co. now has a way to get its fashions into the hands of its loyal shoppers in Southeast Asia — and fast.   Through a new wholesale agreement with Asia's leading online fashion destination Zalora, the teen apparel retailer will begin selling its Hollister merchandise through Zalora's online stores starting next week. The site will also begin offering Abercrombie & Fitch product later this month, according to Abercrombie & Fitch.  

The retail industry is going through an innovation revolution, driven by game-changing technologies such as artificial intelligence, virtual reality and advanced analytics.  

J.C. Penney extending its commitment to beauty and related services.    The retailer said Monday that 50 additional salon locations will be rebranded to The Salon by Instyle this year, as the company continues to revamp its 750 salons nationwide.    Key design elements of the new concept include updated graphics, photography that highlights hair trends, accent lighting, modern fixtures and sleek furniture. Each salon offers an array of services from haircuts to hair treatments to extensions.

The going-out-of-business sales have started at Hhgregg.   The bankrupt retailer began liquidating its assets on Saturday, April 8, after failing to find a buyer. The chain said it expects to close all of its 220 stores by the end of May.