Corporate Governance

Stuart, Fla. -- Konover South announced the acquisition of 4.43-acres of land for its new 30,587-sq.-ft. Stuart Landings retail center in Stuart, Florida, for $2.25 million.

The center will be located at SE Federal Highway and SE Miami Ave., which shares U.S. 1 access with an adjacent Walmart Supercenter. Stuart Landings will feature a 17,837-sq.-ft. Aldi, a 3,500-sq.-ft. Aspen Dental with additional lease negotiations underway.

The strong dollar’s influence on tourism and store traffic led the Neiman Marcus Group to report a decline in same-store sales for the first time in six years.

GameStop’s Technology Brands division has reached another milestone toward its goal of generating $1.5 billion in revenue by 2019.

The retailer announced it has opened its 1,000th technology brand store. The company now boasts the title of largest video game retailer in the world, as well as the largest AT&T authorized retailer and largest Apple-authorized specialist in the United States.

Plymouth Meeting, Pa. -- PREIT will begin construction next summer on LEGOLAND Discovery Center Philadelphia at Plymouth Meeting Mall in Plymouth Meeting, Pennsylvania. The 33,000 sq. ft. attraction, is a unique indoor attractions based on the popular LEGO brick, designed for families with children aged 3-10.

The instability in the executive suite at Barnes & Noble continues, as the retailer has named a new CIO just months after installing a new chief digital officer.

The retailer has named William Wood as its new CIO. Wood comes from EZCORP Inc., where he also served as chief information officer. He will report directly to Ron Boire, CEO.

Despite the mixed outlook for holiday sales, the private equity community remains interested in retail, believing that the sector can offer the opportunity to achieve scalable growth.

Hastings, Minn. -- Mid-America Real Estate announced it recently secured a new retail lease on behalf of Westview Shopping Center in Hastings, Minnesota.

Ace Hardware signed a lease for 14,980 sq. ft. at Westview Shopping Center located at the corner of South Frontage Road and Pleasant Avenue.

Ace Hardware will anchor the 130,395 sq. ft. center that is also home to Sterling Drug. The location is expected to open in spring 2016.

Boston -- Gordon Brothers Group and Hilco Merchant Resources announced that the companies will be managing the stores closing process, which has begun, for Los Angeles-based, Kitson, at all 17 locations throughout California, Oregon, and Nevada. Sales are offering discounts of up to 50% on all of the fashion apparel, gifts and novelty merchandise. Store fixtures, furniture and equipment will also be available for sale.