Convenience Stores

Las Vegas — Miracle Mile Shops at Planet Hollywood Resort & Casino has begun planning efforts to convert a 60,000-sq.-ft. area on Harmon Avenue along the center’s south end into a dining and entertainment destination.

Washington, D.C. -- More than two-thirds of U.S. shoppers will buy gift cards during the spring and summer seasons, according to a just-released survey by the Retail Gift Card Association.

Buying occasions include Mother’s Day, graduation and weddings. Key findings of the RGCA spring and summer gift card study, which polled more than 1,100 American shoppers, include:

Cupertino, Calif. -- Voltage Security announced a new product integration with device manufacturer Uniform Industrial Corp. (UIC) that provides end-to-end data encryption for the retail payments industry, a key technology in light of the recent data breaches. (Chain Store Age will host a Webinar on data security sponsored by Voltage Security, “Lessons Learned: What to Do NOW to Protect Stores Against Data Breaches,” on May 13. Register here.)

Cincinnati -- The Kroger Co. announced that it will be the first in Oregon to deploy a fleet of heavy-duty trucks that run on Liquid Natural Gas (LNG). The 40 trucks will replace 40 diesel trucks currently in use, and are expected to start making store deliveries in the Portland metropolitan area by the end of 2014.

The use of natural gas fuel not only reduces operating costs for vehicles, but also reduces greenhouse gas emissions up to 23% in medium- to heavy-duty vehicles.

Lewisville, Texas — Kroger and retail developer Cencor Realty Services will break ground on a 123,000-sq.-ft. Kroger Marketplace this week. Slated to open in the first quarter of 2015, the new Kroger will anchor a community-regional-draw center located in the 2,500-acre master-planned community of Castle Hills, Texas.

In addition to the Kroger Marketplace, the center’s first phase will include 40,000 sq. ft. of in-line retail space and several ground sites for national restaurant concepts that have not been announced yet.

New York — The New York office of Berkadia Commercial Mortgage recently arranged $17.5 million in financing for 631 Wilshire Boulevard, a mixed-use property in Santa Monica, California. The borrowers are Pacshore Partners and GreenOak Real Estate.

The two-year loan came through Berkadia’s proprietary bridge lending program. It features two extension options for one year, a 65% loan-to-value ratio and a 75% loan-to-cost ratio.

New York -- U.S. retail and consumer  merger & acquisition activity during first quarter 2014 was primarily driven by five multibillion dollar transactions, with more than half aligned to the food and beverage sector, confirming a positive deals outlook for the year, according to PwC’s U.S. retail and consumer deals insights first quarter 2014 report.
   

Phoenix -- Leslie’s Poolmart announced plans to grand open three retail locations on May 9. The stores are located in: Los Banos, California; Utica, Michigan; and Jackson, Tennessee.

In total, Leslie's plans to open 45 new stores this year, between April and May. With these new stores, Leslie’s will bring its total store count to more than 850 stores nationwide.