Consumer Electronics

Micro Center, a leading consumer electronics retailer, has entered into a multi-year agreement with the Warranty Group, a leading global provider of warranty solutions and underwriting services, which will allow the retailer to enhance its national Protection Plan program.

Under the new agreement, Micro Center customers will benefit from innovative warranty program solutions and customized services across a broad range of products.

New York — Due to the holiday rush and related closings, sister publication Chain Store Age has extended the deadline for its 32nd annual Retail Store of the Year Design Competition until Wednesday, Jan. 8, 2014.

The holiday saw the launch of major consoles, and multichannel videogame retailer GameStop is looking to capitalize by declaring 2014 to be the “Year of Gaming.”

The retailer is offering select items, including console bundles, games and consumer electronics, on sale hoping to lure gamers who didn’t get everything they wanted during the holiday or are looking to use holiday gift cards. The sale runs from now through Sunday, Jan. 5.

Oak Brook, Ill. — Inland Real Estate Income Trust has acquired the 159,258-sq.-ft. Wedgewood Commons Shopping Center in Olive Branch, Miss., a southeastern suburb of Memphis, Tenn. The purchase price was $33.9 million.

The property consists of four buildings and an existing structure suitable for the development of an additional 10,838 sq. ft. of leasable space, which would increase the center’s retail space to just over 170,000 sq. ft.

North Plainfield, N.J. — Mattress Warehouse has leased a 21,404-sq.-ft. space at Crossroads Place in Falls Church, Va., according to Levin Management (www.levinmgt.com), the leasing and management agent for the 336,248-sq.-ft. shopping center. The lease signing brings retail occupancy at the center to 100%. JBG Rosenfeld Retail served as the tenant’s broker in the transaction. Plans call for the new store to open in March.

Virginia Beach, Va. — Divaris Real Estate has completed two retail leases totaling more than 21,000 sq. ft. in Richmond.

PetSmart renewed its lease for 19,734 sq. ft. at Parch Place at Short Pump, which is leased and managed by Divaris (www.divaris.com). Metro Commercial Real Estate represented the tenant.

Kamayan Restaurant leased 1,577 sq. ft. in the 360 West Shopping Center, which Divaris leases and manages. The Filipino restaurant joins Rite Aid, AutoZone, Dollar General, Subway, Jackson Hewitt and Radio Shack.

Purchase, N.Y. – U.S. retail sales reportedly rose 3.5% between Nov. 1 and Dec. 24, 2013 compared to the same period in the prior year. According to data from MasterCard Advisors SpendingPulse, sales of holiday-related categories, such as clothing, electronics and luxury goods, rose 2.3%, after rising 0.7% in 2012.

Reston, Va. -- Several retail subcategories were among the top-gaining in November as Thanksgiving kicked off the holiday shopping season. According to comScore Media Metrix analysis of U.S., desktop activity in November 2013, the retail categories of toys, consumer electronics, jewelry/luxury goods/accessories, department stores, mall, and fragrances/cosmetics all were among the top 10 gaining desktop site categories in November.