Apparel

Atlanta -- Jones Lang LaSalle has announced that it has closed the sale of Tifton Corners in Tifton, Ga., to Tifton Retail. JLL represented RCG Ventures in the transaction.

Anchors at the 186,629-sq.-ft. Tifton Corners include Big Lots, Save A Lot, Tractor Supply Co., Dollar Tree, Citi Trends and Hibbett Sports. The property is currently 84% leased.

JLL noted that Tifton is near I-75, a major north-south interstate, in south central Ga., two hours north of Tallahassee and three hours south of Atlanta.

Atlanta -- Jones Lang LaSalle has announced that its retail group, in an exclusive deal, will lease and manage Shenandoah Plaza in Newnan, Ga. Anchoring the 146,121-sq.-ft. property are Big Lots, Rent-A-Center and Goodwill.

The property is currently 100% occupied. John Bemis, southeast retail market lead, and Janine Christian, senior VP, will direct JLL’s team on the assignment.

Bryn Mawr, Pa. -- WP Realty has acquired Plaza at the Pointe, a 149,016-sq.-ft. center located near Pittsburgh in the Parkway West retail submarket.

Anchor tenants include Bed, Bath & Beyond, Old Navy, La-Z-Boy and Party City. An additional 21,556 sq. ft. anchor space is currently vacant.

Latitude 40, a recently redeveloped 60,000-sq.-ft. entertainment center, and a number of national retailers shadow-anchor Plaza at the Pointe from adjacent properties.
 

New York -- Ann Inc., which runs the Ann Taylor and Loft,  reported that its fiscal first-quarter net income dropped 27%, as unseasonably cold weather held back sales of spring and summer clothing and led to discounts. The retailer also cut its revenue outlook for the year.

Suffern, N.Y. -- Ascena Retail Group Inc. reported its fiscal third-quarter net income dropped nearly 37% amid costs related to its acquisition of Charming Shoppes and a charge tied to debt extinguishment. The chain also lowered its full-year earnings forecast.

Net income slipped to $31.2 million for the quarter that ended April 27, from $49.4 million in the same quarter a year ago.

Revenue rose nearly 46% to $1.14 billion, boosted by the company’s acquisitions of the Lane Bryant and Catherines chains. Same-store sales fell 4%.

New York -- Same-stores sales increased 3.2% in May, edging up from a 3% gain in April, according to a preliminary tally of 12 retailers by the International Council of Shopping Centers.  

The number of retailers reporting same-store sales has dropped dramatically over the past two years, with major department store companies and discounters no longer reporting. Many specialty fashion chains are also following suit. Some experts caution that the results are now so limited they are not representative of the industry at large.

Atlanta -- A just-released report by Jones Lang LaSalle Retail found that three trends — in retail investing, retail expansion and e-commerce — are making national borders increasingly irrelevant to the retail industry. According to Jones Lang LaSalle’s “Global Capital Flows,” retail investment captured 25% of the total global market share of real estate investment in first quarter 2013.

Vineland, N.J. -- Ulta Beauty will open a new superstore  this fall at Cumberland Mall in Vineland, N.J. The 10,500-sq.-ft. store will feature a full-service salon as part of its offerings.

Cumberland Mall is anchored by Boscov’s, Marshalls, J.C. Penney, Burlington Coat Factory, Michaels, Old Navy and Bed Bath & Beyond.

Greenwich, Conn. -- Urstadt Biddle Properties Inc. has acquired two retail properties on Putnam Avenue (US Route 1) in Greenwich, Conn., for $18 million.

West Putnam Plaza is a 9,300-sq.-ft. retail strip center shadow-anchored by a Stop & Shop supermarket. National tenants include Cosi and JP Morgan Chase Bank. A wine retailer, day spa and women’s fitness studio round out the tenant list.

The second property is Cos Cob Plaza, a 15,000-sq.-ft. retail and office center. Tenants include Jos. A. Bank.

Leominster, Mass. -- Vintage Real Estate has purchased The Mall at Whitney Field, a 700,000-sq.-ft. regional shopping center in Leominster, Mass., about 35 miles west of Boston. Anchors include Macy’s, Sears, J.C. Penney, Market Basket, Toys “R” Us and Old Navy.

Concurrent with the acquisition, Burlington Coat Factor signed a 10-year lease for a 66,000-sq.-ft. space formerly occupied by Circuit City.