Department Store

North Plainfield, N.J. — The Shops at 5 in Plymouth, Mass., has named Levin Management its exclusive managing agent.

The 420,000-sq. ft. open-air shopping center takes its name from its location off Route 3 at Exit 5 on Long Pond Road. Anchor tenants include BJ’s Wholesale Club, TJ Maxx/HomeGoods and Kohl’s. Other national names include The Sports Authority, PetSmart, Pier 1 Imports, Panera Bread and IHOP.

By John Cronin, Tiger Group, [email protected]

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the financing of Wyoming Valley Mall in Wilkes-Barre, Pa., and used a portion of the proceeds to repay the mortgage loan balance on Beaver Valley Mall in Monaca, Pa., without penalty.

The new 10-year, non-recourse loan on Wyoming Valley Mall totals $78 million and replaces a $65 million loan that was repaid in September. The transaction produced proceeds of $13 million. The interest rate on the new mortgage is 5.17%, a decrease of 68 basis points from the previous rate.

By Tricia Downing, VP, FRCH Design Worldwide

Hudson’s Bay Company has named Donald Watros, currently the company’s COO, as president of HBC, a newly expanded role. The appointment is effective Feb. 1, 2014.

The move comes as the company restructures its leadership so it can focus on managing and growing HBC’s presence in North America, as well as its expanding portfolio of brands.

New York -- The majority of American shoppers think that holiday discounts advertised by retailers are faked, according to a survey conducted by British marketing consultant David Rawlings.

Rawlings’ Google survey, "Before-Christmas sales — Do you believe the discounts are genuine?," queried 1,500 American Internet users, and found that more than 70% of those polled answered "no" to that question.

Macy’s plans to build a major direct-to-consumer fulfillment center near Owasso in Tulsa County, Okla., to support continued sales growth driven by Macy’s omnichannel strategy.

The site is strategically located near the intersection of 76th St. North and Lakewood Ave., about 12 miles north of Tulsa. The company is expected to invest more than $170 million in the facility.
 

Chicago – Wintry weather across the Midwest and Northeast took its toll on store traffic, as a report by ShopperTrak showed that in-store sales for the week of Dec. 9 to Dec. 15 were down 0.8% from the same week last year. New data from ShopperTrak also shows that in-store shopper traffic also fell last week by 19.9% compared to the same time period in 2012.