Discount Store

Chicago -- Pine Tree Commercial Realty has acquired Poplar-Prairie Stone Crossing, a class-A power shopping center located in the Northwest Chicago suburb of Hoffman Estates, Illinois. The recent acquisition is Pine Tree’s 70th and brings the company’s current portfolio to 3.4 million sq. ft. in 19 separate properties.

The 312,000-sq.-ft. shopping center is shadow-anchored by Target and features TJ Maxx, Michaels, Ross Dress for Less, PetSmart, Lane Bryant, and Sports Authority.

One retail category that’s been fascinating to watch evolve over the last several years is the women’s athletic apparel segment. Judging by the number of times reporters have asked me about women’s athletic apparel retailers in the last few months, I’m not the only one who thinks so.

Chicago -- Mid-America Asset Management recently secured new retail leases on behalf of two shopping centers in Chicago’s northwest suburbs. DSW Shoe Warehouse signed a lease for 23,773 sq. ft. at Village Square of Northbrook located at the southeast corner of Lake Cook Road and Skokie Boulevard in Northbrook, Ill. The 334,995-sq.-ft. center is anchored by Nordstrom Rack, Marshall’s, The Container Store, PetSmart, Cost Plus World Market, and Saks Fifth Avenue Off 5th. DSW, expected to open in spring 2015, is taking the space vacated by Loehmann’s.

Goodlettsville, Tenn. -- Dollar General Corp. on Thursday reported earnings of $251.3 million for the second quarter, in line with expectations, even as its sales decelerated. The company also said it still wants to buy Family Dollar Stores, even though the rival discounter rejected Dollar General’s bid of its $8.95 billion offer last week.

Roseville, Minn. -- JLL Retail announced the firm has been retained to manage Rosedale Square, a 160,000-sq.-ft. upscale, grocery-anchored strip center in Roseville, Minnesota.

The property’s is currently 94% occupied.

Irving, Texas – The Michaels Companies Inc. on Wednesday reported a net loss of $48 million in the second quarter of fiscal 2014, compared to net income of $17 in the year-ago period, as $68 million in costs associated with debt-extinguishment and drove the retailer into the red. Its results, however, beat analysts estimates, and the company raised its full-year outlook. It was Michaels’ first earnings report since it went public again at the end of June.

Grocery-anchored centers respond to changing consumer tastes and consolidation

As supermarket tenants are challenged to meet the needs of an increasingly diversified and sophisticated consumer base, and given the significant trend toward consolidation, landlords are tasked with delivering top-notch grocery-anchored centers — with a diminishing number of anchors from which to choose.

Add in growing pressure on the grocery segment from competitors in the mass merchandise, discount and even dollar store verticals, plus small — but real — grocery in