Retail

Walnut Creek, Calif. – While the percentage of retailers who think they know about their customers is rising, fewer retailers think they are proficient in using that knowledge for marketing purposes. According to a new study from RSR Research, “Retail Marketing 2013: Organizational Drift,” 36% of retail marketers said their customer loyalty program is a foundational element of their marketing strategy in 2013, compared to 32% last year.

Minneapolis – Target Corp. reportedly plans to hire 70,000 seasonal workers for the upcoming holiday season, about 20% less than the 88,000 seasonal workers it hired for last year’s holiday season.

According to the Associated Press, Target wants to give full-time employees more opportunity to take on extra holiday hours. The retailer also wants to better anticipate and schedule for fluctuations in holiday traffic. About one-third of seasonal employees brought on last year obtained full-time jobs at Target.

Burlington, Mass. — Kohl’s Department Store has signed a long-term renewal at The Crossings in Newington, N.H., according to KeyPoint Partners, the firm that manages and leases the center.

KeyPoint also recently signed Ulta Beauty and Trader Joe’s as new tenants.

Richmond, Va. — Divaris Real Estate has renewed two retail leases totaling more than 9,500 sq. ft. in Richmond, Va.

Aaron’s renewed its lease for 8,008 sq. ft. in Brookhill Azalea Shopping Center, which DRE leases and manages for the landlord, BSV Premier Brookhill.

In a separate transaction, Subway renewed its lease for 1,575 sq. ft. at 360 West Shopping Center, which DRE www.divaris.com leases and manages for the landlord, a partnership between HSW and RMW1.

Pooler, Ga. — With the addition of seven new leases, GBT Realty Corporation’s Village on Pooler Parkway is 95% leased months before its scheduled opening in the first quarter of next year. Anchored by T.J.Maxx, Ross Dress for Less, Michaels and PetSmart, the 143,000-sq.-ft. development has now added Kirkland’s, Hibbett Sports, Visionworks, Legacy Nails, Sprint, GNC and Kay Jewelers to the mix.

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sales of two power center properties. In two separate transactions, PREIT sold Christiana Center in Newark, Del., and Commons at Magnolia in Florence, S.C. for $87.3 million. The proceeds represent a blended cap rate of 6.8%. Gains on the sales totaled approximately $45.4 million.

In connection with these transactions, the buyer assumed the $49.2 million mortgage loan secured by Christiana Center.

Pittsburgh -- Dick’s Sporting Goods will open its newly renovated store in Cary, N.C., on Sept. 29, featuring 56,000 sq. ft. of specialized services and experiential elements such as a golf simulator, club fitting center, putting green, archery lane with an on-site bow technician, and bike safety inspections, custom fittings, tune-ups and assembly.

Dallas — A fund managed by Cypress Equities has acquired Promenade Tannehill in Bessemer, Ala., a suburb of Birmingham.

Tannehill is a 347,151-sq.-ft. regional power center that opened in 2008 and presently houses more than 30 retailers, including Target, Publix, J.C. Penney, Michaels, PetSmart, Premiere Cinemas, Charming Charlie, Anna’s Linens and Ross Dress For Less.