Department Store

Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp.’s investment sales group has brokered the sale of the 301,045-sq.-ft. Mount Prospect Plaza in Mount Prospect, Ill., a northwestern suburb of Chicago.

Ramco-Gershenson Properties Trust purchased the property for $36.1 million from a pension fund advised by JP Morgan Asset Management Inc.

Walmart, Target, Best Buy and other retailers created a cooperative nearly a year ago to develop a mobile payment approach and this week they welcomed another major player to the fold.

Evansville, Ind. -- Value-priced footwear retailer Shoe Carnival will grand-open 12 stores in 11 different cities in July, bringing its store count to 367 stores in 32 states and Puerto Rico.

“We are excited to be growing rapidly across the country,” said Todd Beurman, senior VP marketing. New stores will open in: Cedar Rapids, Iowa; Charlotte, N.C.; Chicago; Lansing, Mich.; St. Louis; Greenville, N.C.; Cincinnati; Atlanta; Phoenix; Louisville, Ky.; and Grand Rapids, Mich.
 

New York -- The London Candy Co. has taken 1,000 sq. ft. on Bleecker Street in Manhattan’s West Village, according to RKF, which brokered the deal.

The new candy and coffee shop will replace the retailer’s existing location at Lexington and East 94th Street.

Cranford, N.J. -- Winick Realty Group N.J. has announced the formation of an investment sales division in the company’s Cranford, N.J., office. The new division will focus on a wide range of properties from ne-leased investment-grade properties to shopping centers throughout New Jersey.

“The investment sales market is red-hot right now, with a substantial amount of business that reaches pre-recession levels,” said Tyler Bennett, senior VP and founding partner of Winick Realty N.J.

BRISBANE, Calif. — Global specialty retailer Bebe reported retail sales of $109 million for the fourth fiscal quarter ended July 6, a decrease of 8.5% compared to $119.1 million for the fiscal quarter ended June 30, 2012. 

Comparable store sales for the quarter decreased 7.1% compared to a decrease of 2.5% in the fourth fiscal quarter of the prior year. The decrease was primarily driven by the negative comparable store traffic during the quarter, with April being the most negative. 

NEW YORK — Japanese apparel retailer Uniqlo, a division of Fast Company, is expanding its U.S. footprint with the opening of 10 stores this fall in New York, New Jersey, Connecticut and California.

The new locations, all in shopping centers, will bring the brand’s presence in the United States to a total of 17 sites.

Austin, Texas -- Research results released Thursday by coupon site Offers.com found that 67% of U.S. parents with school-aged children plan to spend more than $100 per child on back-to-school shopping this year.