Convenience Stores

Oakbrook Terrace, Ill. — Mid-America Real Estate Corp.’s investment sales team has brokered the sale of Shadeland Station. Time Equities purchased the 104,906-sq.-ft. grocery-anchored shopping center. Marsh Supermarkets and Dollar Tree anchor the center.

Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate – Indiana LLC brokered the transaction exclusively on behalf of the seller, a joint venture between Tri-Land Developments and an affiliate of Equity Group Investments.

What’s next for Walmart under the leadership of new CEO Doug McMillon is the focus of the Spring edition of Walmart Supplier News.

Change is in the air at Walmart as the Doug McMillon era begins. No company makes a change at the top out of a desire to maintain the status quo, and McMillon has already indicated there are changes to come.

Finance executives who participated in professional services firm BDO’s annual CFO survey expect 8.2% growth in online sales this year and not surprisingly plan to increase investments in mobile capabilities.

Mobile and online sales will continue to drive growth for retailers in 2014, the firm said. However, now that e-commerce has firmly taken root in the retail industry, growth is beginning to stabilize. As a result, about 64% of CFOs said online sales will grow in the coming year, a figure below the 74% who expressed that sentiment the prior year.

Tampa, Fla. — RMC Property Group has earned two exclusive leasing assignments on Florida’s southern West Coast.

First is Fountain Court, a 180,420-sq.-ft. community shopping center in Bradenton’s Highway 64 retail corridor near the beaches and Anna Maria Island. Anchor tenants include Bealls Department Store and Planet Fitness.

Los Angeles — Brixton Capital has acquired TownGate Center in Moreno Valley, Calif., for $41,971,000, a 6.9% cap rate, according to CBRE, which represented both the buyer and seller in the transaction. The seller was a partnership between Walton Street, a private equity firm, and Fritz Duda Co.

The CBRE marketing system distributed more than 460 offering memoranda to investors and brokers. The managed bid offer process generated more than nine offers. The purchase price mirrored CBRE’s pricing guidance to the seller.

Purchase, N.Y. — Jersey Mike’s Subs has opened a new shop at Kohl’s Plaza in Holmdel, N.J. Kohl’s and Stein Mart anchor the 184,575-sq.-ft. shopping center owned and managed by National Realty & Development Corp.

The tenant line-up also includes 7-Eleven, Harmon Stores, Avenue, Wells Fargo and the Bayshore Academy of Dance.

Virginia Beach, Va. — Two new tenants have signed into Warrenton Towne Center in Warrenton, Va., according to Divaris Real Estate, the broker representing Kalis Holdings, the landlord, in the transactions.

Regis Corporation leased 2,502 sq. ft. in the center for a beauty salon. The company owns, franchises or holds ownership interests in 9,763 locations worldwide.

Seattle -- Starbucks has announced upcoming enhancements to its mobile app for iPhone, which will allow customers to provide Starbucks employees with a tip directly from the Starbucks App for iPhone. Beginning March 19, customers using Starbucks App for iPhone in the U.S., U.K., and Canada will experience a streamlined design and access to their account and My Starbucks Rewards information.

Washington, D.C. -- The National Retail Federation (NRF) is urging Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes, telling a House committee that lawmakers should level the playing field between local retailers and out-of-state competitors. David French, senior VP of the NRF, told the House Judiciary Committee in a letter that legislation is needed to end the sales tax disparity.

National Retail Federation SVP David French told the House Judiciary Committee in a letter this week that legislation is needed to level the playing field between local retailers and out-of-state competitors, as the NRF continues to push Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes.