Consumer Electronics

Indianapolis - The Finish Line Inc. is running an omnichannel promotion linked to the upcoming pro basketball all-star weekend in New York City. Finish Line collaborated with Under Armour, pro basketball star Stephen Curry and several key influencers within the basketball marketplace to host a contest surrounding the new Curry 1 product launch on Feb. 13.

Washington, D.C. -- The JCR Companies has acquired Manokeek Village Shopping Center in Accokeek, Maryland, just 10 minutes from the Washington, D.C. Beltway, for $22 million. The seller was Klaff Realty.

The 90,172-sq.-ft. grocery-anchored shopping center is located at the intersection of Manny and Berry Roads in Prince George’s County.

Anchored by Giant Food, Manokeek Village is more than 90% leased to a lineup of retailers including Starbucks, Wendy’s Advance Auto, SunTrust Bank, and 7-Eleven.

Best Buy is finally joining the growing online gift registry market by offering wedding registry services.   More than 1.5 million couples register for wedding gifts each year. Options for these couples soon will improve with the Feb. 16 launch of the Best Buy Wedding Registry, enabling couples everywhere to register for their most-wanted tech essentials:  from wireless speakers to cameras and from Ultra HD TVs to ever-popular kitchen gadgets.  

Port Washington, N.Y. - Consumers spent more than $47 billion on small appliances, non-electric housewares products, and home fashions in 2014. According to The NPD Group, this was a nearly $500 million, or 1%, increase from 2013 home-product sales,

NPD Group data also shows this continued the growth trajectory resumed in 2013, when the industry grew by 4%. Sales of small kitchen appliances, bed, and bath home fashions products buoyed the industry in 2014, while most non-electric housewares continued to struggle.

Lafayette, Indiana -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Lafayette Pavilions Shopping Center located in Lafayette, Indiana. The 348,531-sq.-ft. regional shopping center was acquired by a real estate investment trust sponsored and managed by Phoenix-based Cole Capital for $54 million.

Lafayette Pavilions Shopping Center is located at the southwest corner of State Road 26 and Creasy Lane; it is anchored by Gordmans, Hobby Lobby, Gander Mountain, and TJ Maxx.
 

Chicago -- Transwestern’s Chicago office has brokered the sale of The Shops at Flint Creek. Located at 500 N. Hough St. in Barrington, Illinois, the 59,325-sq.-ft. center was developed in 2006 by Hamilton Partners. Next Realty LLC purchased the Heinen’s grocery store-anchored center for an undisclosed amount.

In addition to Heinen’s, tenants include Meatheads, Alexian Brothers Health System, Coldwell Banker, Athletico and Scottrade.

New York -- The fast-growing Michael Kors has opened its largest and most comprehensive location to date, a three-story, 22,000-sq. ft. flagship in the Soho section of Manhattan. The store features the debut of the men’s collection in the brand’s own retail stores, with the first-ever in-store presentation of men’s shoes and and an entire floor dedicated to accessories, and the first dedicated Michael Kors shoe salon. Huge, floor-to-ceiling video screens, set on all three floors, help bring the products to life.

One of the interesting retail real estate trends I’ve been seeing pick up steam in the last couple of years is the willingness of many retailers to look beyond the traditional mall locations. Many are choosing locations on “hot streets,” bustling avenues within major communities that happen to be the retail hub, or in the downtown/village center area of the market.