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Graduation spending to hit record high
Some good news for retailers: Consumers plan to spend more than ever on graduation gifts this year as they stuff greeting cards with gift cards and cash. That’s according to the annual survey by the National Retail Federation and Prosper Insights & Analytics. With more consumers buying for graduates this year – 36% compared with 34% in 2016 – total spending is expected to reach $5.6 billion. That’s the highest number in the survey’s 11-year history, topping last year’s previous record of $5.4 billion. -
WPG, O’Connor go in on seven open-air centers
Washington Prime Group and O’Connor Capital Partner announced the formation of a joint venture partnership in seven open-air retail centers. WPG will be the controlling partner with a 51% stake. The seven properties are: • Arbor Hills in Ann Arbor, Michigan; • Classen Curve/Nichols Hills Plaza/The Triangle at Classen Curve in Oklahoma City; • Gateway Center in Austin, Texas; • Palms Crossing in McAllen, Texas;

