Skip to main content

Discount Store

  • Developer extends its Walmart shadow

    Schostak Brothers has added six multi-tenant properties to its “Shadow Walmart” portfolio of retail space adjoining supercenters, bringing it to a total of 67. The new additions are located in Louisiana, Mississippi, and Texas.   “In the last decade, we have pursued an aggressive growth strategy in order to assemble one of the largest Walmart Supercenter shadow-anchored shopping center portfolios in the United States,” said Schostak COO Warren Strietzel.  

  • Coming soon: Target Pay?

    Target Corp. is entering the mobile payments arena.       Following similar moves by such competitors as Walmart and Kohl’s, the discounter plans to introduce mobile payment features to one or more of its own apps, according to a report by Recode.   

  • Best Buy CEO says he’s not leaving

    Hubert Joly, chairman and CEO of Best Buy, denied a report that has him taking the helm of a European retailing giant.    A report by Reuters, which cited Brazilian newspaper Valor Economico, said that Carrefour, the world’s second largest retailer, had identified Joly as a replacement for its current CEO, Georges Plassat, whose term ends in May 2018.     

  • Clarion acquires Boston-area center

    New York-based Clarion Partners has acquired Brookside Shops, a Trader Joe’s-anchored center in Acton, Massachusetts. The company did not disclose the purchase price.   “Brookside Shops is a well-positioned retail center with excellent fundamentals located in a highly affluent trade area,” said Clarion director Gary Rufrano.  

  • Phillips Edison names Wik senior VP of acquisitions

    Phillips Edison & Company, a leading national player in grocery-anchored centers, has promoted David Wik to senior VP of acquisitions.   In his past six years with the company, most recently spearheading growth in the Southeast, Wik sourced the acquisition of more than 100 assets representing $1 billion-plus in investments for the company’s several REITs. He previously worked in acquisitions at Midland Atlantic Development.  

  • Holiday sales better than expected; data reveals winners — and losers

    It was a less than merry holiday for some retailers, especially in the department store sector, but total sales still managed to beat industry projections, fueled by a strengthening economy.    Retail sales (excluding autos, gas stations and restaurants) during November and December rose 4% over 2015 to $658.3 billion, according to the National Retail Federation. The group had forecast sales would rise 3.6% to $655.8 billion.  

  • Ohio regional mall sells for $31.5 million

    Time Equities has acquired Colony Square, a 425,430-sq.-ft. mall in Zanesville, Ohio, for $31.5 million. It’s now the largest property in the company’s Ohio portfolio.   The enclosed regional mall is anchored by J.C. Penney, Cinemark, Dunham’s Sports, and the Elder-Beerman department store. Urban Retail Properties will handle management, marketing, and leasing at the property on behalf of TEI.  

  • Study: Grocers fail to meet shoppers’ fresh needs

    Many grocery retailers are still missing the mark when it comes to meeting a key shopper demand.    Specifically, 81% of shoppers said they are unable to get produce they want in store, online and at discount retailers, yet 91% of grocery retail professionals are confident they are meeting customer expectations of availability.  
X
This ad will auto-close in 10 seconds