Consumer Electronics

Houston – The Mansour Group has arranged the sale of the 99% leased, 223,223-sq.-ft. Almeda Crossing Power Center located in Houston, for more than $30 million. The seller was a Texas-based developer and The Mansour Group was able to deliver the property to a national REIT.

The center is leased to an array of national tenants including Ross, Marshall’s, Staples, PetSmart, Conn’s, Party City, Show Carnival, Dollar Tree, Anna’s Linens, Aaron’s and many others and is shadow anchored by a Walmart supercenter.

New York -- Wal-Mart Stores has no plans to join Apple’s newly-announced mobile payments system, Apple Pay, which is due to launch in October.

Wal-Mart is supporting a retailer-owned mobile technology group, the Merchant Customer Exchange, which is launching its own mobile wallet application. The application, called CurrentC, is now in pilot and is expected to be rolled out nationwide in 2015, according to The Washington Post.  Best Buy is also among the retailers supporting CurrentC.
   

Indianapolis – Hhgregg Inc. has hired Robert J. Riesbeck as CFO, effective Sept. 15. Riesbeck brings more than 25 years of experience in financial and operations management, most recently serving as Operations Executive/Group CFO at Sun Capital Partners, where he was responsible for financial and operations oversight of a group of portfolio companies with combined revenues exceeding $5 billion.

Jacksonville, Fla. — Near Field Communication (NFC) POS payment terminals from Pax Technology Inc. now support Apple Pay. Pax has a portfolio of products including countertop, mobile and multi-lane NFC-equipped terminals tested to work with Apple Pay.

Hhgregg has added Robert J. Riesbeck to its executive team as CFO, as part of the retailer’s continued focus on transforming the business.

Riesbeck has more than 25 years of experience in financial and operations management. Most recently, he served as operations executive/group CFO at Sun Capital Partners where he was responsible for financial and operations oversight of a diverse group of portfolio companies with combined revenues exceeding $5 billion.

Fort Worth, Texas – RadioShack Corp. on Thursday posted a net loss of $137.2 million in its second quarter, more than double the $52.2 million loss reported in the year-ago period.  It was the troubled retailer’s 10th straight quarterly loss. RadioShack warned in a regulatory filing it may seek bankruptcy protection, with a possible sale or third-party investment as other potential avenues to remedy its ongoing financial woes.

Miami Gardens, Fla. — Palmetto Park, the owner of Palmetto Gardens Plaza, has signed three new leases for the seven-acre shopping plaza located in Miami Gardens. T-Mobile and Cell Phone Repair are both national companies; Lee Nails has a number of other locations throughout Florida.  

Construction on this portion of the plaza is scheduled to be complete by the third quarter of 2015. Construction on a Wal-Mart Neighborhood Store, which will serve as anchor tenant, is underway and will open in the fourth quarter 2014.

RadioShack posted a net loss of $137.2 million in its second quarter, more than double the $52.2 million loss reported in the year-ago period. It was the troubled retailer’s 10th straight quarterly loss.

RadioShack warned in a regulatory filing it may seek bankruptcy protection, with a possible sale or third-party investment as other potential avenues to remedy its ongoing financial woes.