Corporate Governance

Panjiva: U.S. imports down in September
New York –- Imports to the U.S. were down in September from August, but still there was a measurable year-over-year increase. Sept. 2014 showed levels of imports 7% above imports in Sept. 2013.
German retailers partner with Shopkick
Berlin, Germany –- Five leading German retailers are partnering with U.S. shopping app Shopkick. At launch, Shopkick’s German network is comprised of more than 1,400 stores: all Douglas (largest beauty retailer in Germany), Media Markt and Saturn (together the largest consumer electronics retail chain in Germany), OBI (one of the largest do-it-yourself retailers in Germany) and Karstadt (one of the largest department stores in Germany) locations.

Vaughan Mills opens 50-store expansion

Toronto, Canada - An $87 million, 200,000-sq.-ft., 50-store expansion has been opened to the public at Vaughan Mills Shopping Centre, operated by Ivanhoe Cambridge. The expansion on the east side of the property features an Event Court, a digital lounge and a Sport Neighborhood.
Mid-America arranges sale of Fraser Shopping Center

Fraser, Mich. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Fraser Shopping Center in Fraser, Mich. The 68,326-sq.-ft. center was purchased by a private investor represented by Sterling Heights, Michigan-based Showcase One Real Estate Group.
BH Properties acquires Los Altos Crossing for $4.7 million

Sparks, Nev. -- BH Properties, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed real estate properties, has purchased Los Altos Crossing, a retail center located at Sparks Boulevard and Los Altos Parkway in Sparks, Nev., for $6 million.
Winick completes a pair of retail leases at PowerHouse Condominium

New York -- Winick Realty Group has secured two retail leases at the base of the 177-unit PowerHouse Condominium, located at 50-09 Second Street in Long Island City, N.Y. The 6,422-square-foot space, which landlord V Partners refurbished following Hurricane Sandy-related flooding, was divided to accommodate incoming tenant Tiger J Taekwondo and an expansion by existing building tenant Brighter Babies.
Cypress Equities acquires Corner Shopping Center

Dallas -- Cypress Equities companies announced that its affiliated Cypress Acquisition Partners Retail Fund has closed on the acquisition of The Corner Shopping Center in Dallas. The project is a community shopping center, located on the northeast corner of Walnut Hill and the US-75 Central Expressway.
Marcus & Millichap names senior director of National Retail Group

St. Louis --Marcus & Millichap announced that Brett Chetek has rejoined the firm as senior director of the National Retail Group in the firm’s St. Louis office.
Quiksilver concept store to make NYC debut in Meatpacking District

New York -- Real estate firm RKF announced that it has arranged a 5,900-sq.-ft. lease for Boardriders in Manhattan’s Meatpacking District. Located on the south block between Ninth Avenue and Washington Street at 408 West 14th Street, this will become the Quiksilver concept store’s first Manhattan location.
Cabela’s misses on Q3 results, to open 13-15 stores annually going forward

Sidney, Neb. –- Cabela’s Inc. missed Wall Street estimates for earnings and revenue in the third quarter of fiscal 2014. Net income rose 8% to $53.8 million from $49.9 million, dampened by provisions for income taxes. The retailer said it plans to open 13-15 stores per year for the next several years.
GE Capital provides financing to MX Restaurants for Corner Bakery Cafe

Scottsdale, Ariz. -- GE Capital’s Franchise Finance business announced its first financing for the Corner Bakery Café brand. It comes in the form of a $5.6 million loan to Texas-based MX Restaurants and Bakeries, which already operates seven Corner Bakery restaurants in the Houston and South Texas markets. MX will use these funds to pay off short-term debt related to a recent acquisition and to develop four additional units.
Canadian operations cut into West Marine Q3 profit

Watsonville, Calif. –- A tax valuation allowance related to its Canadian operations helped reduce net income at West Marine Inc. to $4.9 million in the third quarter of fiscal 2014, down 24% from $6.5 million in the same period the prior fiscal year. Net revenues were $196.5 million, a 2% jump from $193.4 million, and same-store sales rose 0.6%.