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Real Estate

  • Walmart in new jobs commitment

    Walmart, the nation’s largest private employer with nearly 1.5 million associates, plans to add 10,000 new retail jobs in its upcoming fiscal year, which begins on February 1, 2017.   The discounter says the new jobs will be created through the opening of 59 new, expanded and relocated Walmart and Sam’s Club facilities as well as e-commerce services.    

  • Phillips Edison names Wik senior VP of acquisitions

    Phillips Edison & Company, a leading national player in grocery-anchored centers, has promoted David Wik to senior VP of acquisitions.   In his past six years with the company, most recently spearheading growth in the Southeast, Wik sourced the acquisition of more than 100 assets representing $1 billion-plus in investments for the company’s several REITs. He previously worked in acquisitions at Midland Atlantic Development.  

  • Clarion acquires Boston-area center

    New York-based Clarion Partners has acquired Brookside Shops, a Trader Joe’s-anchored center in Acton, Massachusetts. The company did not disclose the purchase price.   “Brookside Shops is a well-positioned retail center with excellent fundamentals located in a highly affluent trade area,” said Clarion director Gary Rufrano.  

  • Golf retailer continues expansion

    PGA Tour Superstore is celebrating the opening of its 28th U.S. store.   The privately held retailer has opened a store in Glendale, Arizona, its fifth location in the western state. Two more locations are in the works for 2017, with one in Hilton Head, South Carolina, and another in Jacksonville, Florida.  

  • Convenience store chain on the move in Florida

    Wawa has big plans for the Sunshine State.    The privately-owned, Pennsylvania-based convenience store chain plans to open 25 to 30 stores every year throughout Florida during the next several years.   In 2017, Wawa will start its push into the southeast part of the state, with a first wave of stores opening in Palm Beach and Broward Counties.  

  • Nordstrom to close Santa Ana mall store

    After nearly 30 years of doing business in the MainPlace Mall in Santa Ana, California, Nordstrom has announced it will be shuttering the location.  

  • Michigan Mall struggles to fill Macy’s hole

    The new owner of the 550,000-sq.-ft. Lakeview Square Mall in Battle Creek, Michigan, finds itself in a common quandary among property owners today -- launching an all-points search for retailers to fill the hole left by a closing Macy’s.  

  • Ohio regional mall sells for $31.5 million

    Time Equities has acquired Colony Square, a 425,430-sq.-ft. mall in Zanesville, Ohio, for $31.5 million. It’s now the largest property in the company’s Ohio portfolio.   The enclosed regional mall is anchored by J.C. Penney, Cinemark, Dunham’s Sports, and the Elder-Beerman department store. Urban Retail Properties will handle management, marketing, and leasing at the property on behalf of TEI.  
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