Consumer Electronics

Irvine, Calif. -- Irvine Company announced a major $150 million reinvestment in Irvine Spectrum Center located in Irvine, California, in the heart of Irvine Spectrum, a mixed-use community that provides a balanced district of retail, office, and living space.

In what was arguably one of the strangest holiday season in recent memory – for a variety of reasons – retailers have reported a variety of results ranging from impressive to outright awful.

Toys “R” Us produced surprisingly strong results, especially online, in what is proving to be a holiday season characterized by mixed results from retailers who have disclosed results.

Bellevue, Tenn. -- Crosland Southeast and Branch Properties have entered into a joint venture to acquire Bellevue Center Mall, an 87-acre property, located in Bellevue Tennessee. Crosland and Branch will collaborate to develop the retail component of the project and will rebrand the Bellevue Center Mall as One Bellevue Place. The projected costs for the redevelopment are approximately $200 million.

Photo: Lowes Project Tango app shows where a virtual refrigerator might fit in your kitchen. Image Credit: Google

Nordstrom continues to expand its off-price format, with plans to open a Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-sq.-ft. store, leased from Seritage Growth Properties is scheduled to open in fall 2016.

Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-sq.-ft. center is located south of downtown Boston and near main highways including I-93, I-95 and Route 3.

Kansas City, Mo. -- Taubman Centers and The Macerich Company announced an agreement to purchase Country Club Plaza located in Kansas City, Missouri, from Highwoods Properties. Taubman and Macerich will each have a 50% interest in the center, which will be jointly managed by both companies. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Concurrent with or shortly after closing, a long-term, fixed-rate loan for 50%-60% of the purchase price is expected to be placed on the asset.

I remember something a retailer once said to me more than 25 years ago, long before digital mattered. It’s still true today: If the product’s not right, nothing matters. If the product is right, everything matters. That everything now includes staying ahead of the consumer digitally. We’ve gone from a generation that saw technology as a skill to one that doesn’t see it at all — it’s so natural it’s become instinct. This shopper lives in a world where digital doesn’t just define shopping habits — it defines the way shoppers live.