Consumer Electronics

Virginia Beach, Va. — Divaris Real Estate has announced four new retail leases in the greater Richmond area.

Friendly Motors has leased 5,000 sq. ft. in the Divaris-leased and –managed Belt Trade Center.

Zoe’s Kitchen has taken 2,800 sq. ft. in The Corner at Short Pump. DRE’s Richmond office represented the tenant in the negotiations.

Minneapolis – Best Buy’s “Renew Blue” cost reduction program appears to be succeeding, as the retailer reported profit instead of loss during the fourth quarter and fiscal year 2013. The improvements came even as revenues in both periods declined compared to the same periods a year earlier.

During the fourth quarter, Best Buy reported net earnings of $311 million, a substantial improvement from its $460 million net loss a year earlier and above Wall Street projections.

Best Buy saw revenues slip in the fourth quarter and fiscal 2013, thanks in part to declining retail traffic fueled by a shorter holiday shopping season and severe winter weather. But all was not bad news for the retailer, which was able to profit from its Renew Blue cost reduction program.

During the fourth quarter, Best Buy reported net earnings of $311 million, a notable improvement from its $460 million net loss a year earlier. For the fiscal year, Best Buy reported net earnings of $523 million, compared to a net loss of $233 million the prior fiscal year.

Oakbrook Terrace, Ill. — Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Shops of Uptown in Park Ridge, Ill. Phillips Edison-ARC REIT purchased the 70,402-sq.-ft. center for $27 million.

Trader Joe’s anchors the center, which also hosts Jos. A. Bank, Chico’s, LensCrafters Optique, Houlihan’s, Jason’s Deli and Noodles & Company.

San Diego -- As part of a restructuring, Sony Electronics announced plans to close 20 U.S. Sony stores, along with a total staff reduction of one-third by the end of the calendar year.

Fort Worth, Texas — Trademark Property Co. has announced multi-year leases for seven new tenants soon to open in Alliance Town Center in North Fort Worth, Texas.

Roam, an Ingenico company and a leading mobile commerce platform provider, has expanded its mPOS solutions to include chip and PIN acceptance with the RP750x mobile card reader.

The new cloud-based solution is fully compatible with Roam’s mobile commerce platform, which supports new mPOS players with all mobile card acceptance types: magnetic stripe, NFC, chip and sign and chip and PIN.

Features of the RP750x include: