Corporate Governance

Recent completion of the $60 million power center Coastal North Town Center signaled the arrival of Myrtle Beach’s first Publix supermarket and Hobby Lobby store.

Chicago -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Summit Crossing located in Crown Point, Indiana. The 11,859-sq.-ft. center was purchased by a California-based private investor for $3.2 million.
 
Summit Crossing is located at the southeast corner of Route 55 and East Summit Street in Crown Point, in the Chicago MSA. The 100% leased center features a tenant mix that includes ATI Physical Therapy, Advance Auto Parts, Supercuts and Starbucks.

Austin, Texas -- GBT Realty Corp. announced its acquisition of a prime retail site in the heart of one of the fastest-growing cities in Texas and the U.S. Located in Cedar Park, Texas – a community that has grown over 400% since 2004 – Lakeline Commons is a 1.43-acre site that is shadow-anchored by Target and adjacent to The Home Depot.  

GBT acquired the north Austin outparcel for $1.6 million on March 19 from Regions Bank.  No additional terms are available.

Dallas -- SRS Real Estate Partners has appointed Woody McMinn as president of North American brokerage in the Dallas corporate headquarters office. In his newly created position for SRS, McMinn will be responsible for North American brokerage operations, leading market leaders and their respective teams, encouraging collaboration across markets and leading recruiting efforts to grow brokerage, offices, operations and productivity.

New York -- Prospects for stellar rent growth and low vacancy helped make San Francisco the top-ranked city, followed by New York, in Marcus & Millichap’s 2015 National Retail Index, an annual real estate ranking of 46 major U.S. markets. Rounding out the top five: San Jose (#3); Austin (#4) and San Diego (#5).

By Ken Nisch

The evolution of shopping based on the consumer mindset that is reflective of the past and targeted for the future can be described as a “Digital Ecosystem.” Much like the proverbial iceberg, this ecosystem has most of the system existing before the consumer “waterline.” Above this waterline exist the elements for which we are most accepting; such as mobile and tablet interface, kiosks across applications ranging from the ATM, to the calling of an Uber cab street side.

Arlington, Va. – The Food Marketing Institute (FMI) is reportedly asking major credit card companies to delay the October 2015 mandate for U.S. retailers to comply with the Europay, Mastercard Visa (EMV) chip-based payment card standard. According to the Wall Street Journal, the FMI sent a letter to Visa, MasterCard, American Express and Discover Financial Services asking for the deadline to be moved into 2016.

Seattle - Nordstrom has implemented new Oracle Retail Merchandise Operations Management and Oracle Retail Store Inventory Management solutions to support its expansion in Canada. The retailer plans to roll out the latest releases of these Oracle Retail solutions companywide to support its Nordstrom and Nordstrom Rack stores.

Canton, Mass. – Dunkin’ Donuts has signed multi-unit store development agreements with two existing franchise groups to develop seven restaurants in Illinois during the next several years. The two franchise groups and their development plans include:

New York – Lane Bryant is launching its #ImNoAngel omnichannel spring campaign Monday, April 6. The #ImNoAngel campaign, conceptualized by creative agency- Laird+Partners, kicks off with a series of TV advertisements and photographs taken by photographer Cass Bird.

The comprehensive national advertising campaign will feature Bird's images and video across Lane Bryant's stores and social media channels, as well as on billboards, public transportation (including on buses and subways), television and in print.