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Department Store

  • Big mall owners aim to build traffic via online returns

    Macerich, Simon, and Westfield have all signed on for a new service that accepts returns of online purchases at their malls as a way to win a bigger share of Web-shopper’s dollars at their properties.  
  • Report: Hhgregg plans to file for bankruptcy as soon as next month

    A week after bringing in advisers to determine how to return the chain to profitability, Hhgregg is preparing to file Chapter 11.  
  • Specialty retailer launches IPO

    Women’s apparel retailer J.Jill is returning to the public arena after more than a decade of private ownership.   The retailer on Monday said it has launched an initial public offering of 11.67 million shares. The IPO is expected to have a price range of between $14.00 and $16.00 per share.   J.Jill has been approved to list its common stock on the New York Stock Exchange under the ticker “JILL.”  
  • J.C. Penney extending appliances initiative

    J.C. Penney is extending its appliance showroom footprint and also delving deeper into the category.        The retailer will expand its in-store appliance showroom concept from its current 500 stores to an additional 100 locations in early 2017, and also add new appliance brands to the merchandise mix, company chairman and CEO Marvin Ellison said on Penney’s quarterly earnings call.    
  • Macy’s sells ground lease for Pasadena center

    Macy’s has sold a fee-simple ground lease underlying The Shops on Lake Avenue in Pasadena that is shadow-anchored by one of its active stores. The sale to a private investor from San Diego was handled by Hanley Investment Group Real Estate Advisors.   The ground lease does not include the Macy’s store, but does take in tenants including T.J.Maxx, Trader Joe’s, Ross Dress for Less, Williams-Sonoma, Talbot’s Jos. A Bank, and Orvis.  
  • Store closings are part of the business, but is this business as usual?

    2017 is just two months old, but we have already experienced what feels like a year’s worth of major store closing and liquidation announcements from national brands. This spike in store closings seems to have rattled retail industry professionals, and has gotten retail analysts and observers talking about big shifts – and thinking not only about what comes next, but how painful the transition might be in the meantime.  
  • Shreveport center sells for $8.95 million

    Dalton Street Properties has acquired East Side Plaza, a Michaels-anchored center in Shreveport, Louisiana for $8.95 million. Other tenants at the 78,761-sq.-ft. center include Guitar Center, Dollar Tree and Cato.   “The East Side Plaza sale was a significant win for both parties, allowing the seller to exit a non-focal market while providing the purchaser with a high-quality asset,” said Fred Victor, VP of Transwestern, who brokered the sale on behalf of the seller, Eastside Dunhill.
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