Discount Store

Los Angeles — A private buyer has acquired Huntington Plaza, a 57,148-sq.-ft. shopping center in Monrovia, Calif., in the San Gabriel Valley. Anchored by Sprouts Farmers Market and Walgreens, the center was 96% leased at the time of the sale. The tenant roster includes McDonald’s, Jersey Mikes, Flame Broiler, Great Clips and Pacific Dental.

The owner engaged Studley and Colliers International to offer the property for sale. The two companies have jointly handled the leasing of Huntington Plaza for more than six years.

New York – Following a bitterly cold and stormy January that left many retailers with disappointing monthly sales figures, February’s sales results were generally s bit more encouraging. Chain store sales posted a gain of 2.7% for the fiscal month of February on a year-over-year basis, according to a tally of comparable-store sales compiled by the International Council of Shopping Centers.

New York -- Retail expansion in the United States has not come to an end, but its focus has shifted. That’s one of the findings contained in the 2014 ChainLinks Retail Advisors U.S. National Retail Investment Forecast Report.

Boston -- Walmart continues to extend its lead and again achieves its price leadership position over Target, in Kantar Retail’s semi-annual pricing study. Target’s overall grocery and consumables basket has been more expensive than Walmart’s since the study was performed in January 2011.

With an overall branded basket 3.8% less expensive than Target’s, Walmart extended its lead over its rival from June 2013 when Walmart’s overall basket was only 2% cheaper than Target’s.

Remember 2011 and 2012? Back then, the forecasters were saying that the economy would probably be sluggish through 2013. After that, starting in 2014, growth would return.

Ottawa, Canada -- Well-executed dynamic pricing strategies, such as those deployed by Amazon and Overstock, led to higher sales during the 2013 holiday season as opposed to all-season discounting and other strategies. In its “Retail’s 2013 Holiday Winners and Losers” report, pricing intelligence vendor 360pi rated retailers’ overall financial performance for the 2013 fourth quarter on a scale from +5 (above expectations/excellent) to -5 (below expectations/very poor) based on third-party financial analysts’ overall assessments.

San Francisco – Gap Inc. reportedly plans a substantial increase in its Gap and Old Navy store count in China during the next several years. Reuters reports that Gap plans to add 30 stores to its existing 81 Chinese locations.

Virginia Beach, Va. — Divaris Real Estate has announced four new retail leases in the greater Richmond area.

Friendly Motors has leased 5,000 sq. ft. in the Divaris-leased and –managed Belt Trade Center.

Zoe’s Kitchen has taken 2,800 sq. ft. in The Corner at Short Pump. DRE’s Richmond office represented the tenant in the negotiations.