Discount Store

Phase one of a $15 million redevelopment of a 304,755-sq.-ft. neighborhood center in Inglewood, California, has been completed, according to owner NewMark Merrill.   Initial improvements at Crenshaw Imperial Plaza focused on remodeling the DD’s Discounts and 99 Cents Only stores. In Phase 2, a two-story building will be demolished to make room for a Planet Fitness and a 14,215-sq.-ft. retail building. A 15,000-sq.-ft. Mission View Charter School will also be part of the new mix in the center, which NewMark Merrill purchased in 2015.

Private-equity firm Warburg Pincus has agreed to acquire Gabriel Brothers (Gabe's) from Alvarez & Marsal Capital.   The terms of the transaction were not disclosed.  

Dollar sales for holiday 2016 are trending lower than last year — with some exceptions — and retailers are partially to blame.   According to The NPD Group’s weekly point-of-sale results for key general merchandise categories across in-store and online channels, dollar sales in the sixth week of the 2016 holiday shopping season  were 5% lower than the same week in 2015. Cumulatively, dollar sales in the first six weeks of the 2016 holiday shopping season were 4% behind the first six weeks of the 2015 holiday season.

CBL announced it has closed on a sale of three Tier 3 malls to Hull Property Group for a price of $32.25 million. Changing hands are the Randolph Mall in Asheboro, North Carolina, and the Regency Mall in Racine, Wisconsin.    The identity of the third property was not disclosed.  

The biggest shopping day of the year is approaching, and shoppers are ready — almost 156 million, to be exact.    On Saturday, Dec. 17, 66% of Americans – an estimated 155.7 million people –plan to or are considering taking advantage of Super Saturday sales to complete their holiday gift list, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. The survey, which asked 6,890 consumers about their holiday shopping plans, was conducted Dec. 1 - 7.

Century 21 is expanding into a new market.   The New York City-based off-price retailer will open its 12th store to date, and first in the state of Florida, at Sawgrass Mills, in Sunrise. The 85,000-sq.-ft. store will open on Dec. 16.    The Florida location will feature the retailer’s C21-On-1 Stylist Program, providing shoppers with the opportunity to book a free one-on-one appointment with a fashion stylist.         

When the Northern Lights Center in Anchorage, Alaska, was owned by folksy former governor Wally Hickel, things were good for Title Wave Books. The midtown neighborhood was in decline, rent was cheap, and husband-and-wife owners Julie Drake and Steve Lloyd were able to make a living from their low-margin inventory.  

Lidl has made bold moves this week in preparation of its upcoming United States launch.   The company has acquired the site of an industrial building in Philadelphia’s Port Richmond neighborhood, which could be the chain’s first location in Philadelphia, according to philly.com.