Convenience Stores

Walgreens is opening a massive new store, the drug chain's 15th flagship, in Honolulu, Hawaii.

The new store is 35,000-plus feet and is Walgreens' 12th store on Oahu and 18th in Hawaii.

The store also boasts culturally inspired design reflective of elements of traditional Hawaiian architecture, as well as components of the natural landscape.

Deerfield, Ill. — Walgreens will celebrate the official opening of a two-story, flagship store in Honolulu, in the Ala Moana shopping district on Feb. 21 at 9 a.m.
 
This is Walgreens 15th flagship store, its 12th store on Oahu and 18th overall in Hawaii. The culturally inspired design reflects elements of traditional Hawaiian architecture, as well as embraces components of the natural landscape.
 

Are you one of America's Top Developers, Acquirers or Third-Party Managers? Chain Store Age will release the results of the 26th Annual Top Developers and Fastest-Growing Acquirers and 3P Managers in the May 2015 issue distributed at the RECon show in Las Vegas.

The three surveys measure retail and shopping center space developed, acquired and contracted for management/leasing during the 2014 calendar year.  The top five or six companies in each category (by square footage) will be ranked in the May issue. In short:  
 

By Matthew K. Harding

With demand from national, local and franchise companies across a broad range of categories picking up markedly in the Northeast, this is an opportune time to take a look at the movers and shakers that are defining the next generation of retail tenancy. And interestingly, the most successful concepts are embracing a new reality that leverages technology and creative approaches for reaching consumers.

Categories to watch

New York -- The Kmart store in Chillicothe, Ohio, has scaled back its hours and grocery offerings in preparation for its switch from a 24-hour supercenter to the retail chain's new K-Fresh concept, according to a report by the Chillicothe Gazette.

The newspaper reports that the K-Fresh concept has been piloted at two stores, one in suburban Chicago and another in Hawaii.

Houston -- Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced the completion of its 90,000-sq.-ft. redevelopment located in Port Arthur, Texas.

Dallas -- Cypress Equities announced the acquisition of The Strand, a 96,000-sq.-ft. mixed-use development located in Huntington Beach, California.  

The transaction was secured by a fund managed by Cypress’ real estate investment management group, which has acquired more than $500 million dollars of retail properties during the past two years.  
 

While Kmart has been closing many of its stores as it seeks to restructure the company, the retailer has quietly launched a pilot program to re-brand itself as K-Fresh.

The Chillicothe Gazette reports that the Kmart on North Bridge Street in Chillicothe, Ohio, has scaled back its hours and grocery offerings in preparation for its switch from a 24-hour supercenter to the retail chain's new K-Fresh concept.

Increased traffic and better than expected same store sales growth at U.S. stores were bright spots in the retailer’s fourth quarter earnings CEO Doug McMillon characterized as good despite a one cent increase in earnings per share. 

Canadian discounter Dollarama has turned to an Office Depot executive to guide the company through expansion plans in 2015.

The company announced that Elisa D. Garcia has been appointed as an independent director and member of the nominating and governance committee of the corporation. Garcia's appointment expands the company’s board of directors to 10 directors, seven of whom are independent.