Discount Store

JACKSONVILLE, Fla. — Linens and ladies’ casual and career sportswear buoyed Stein Mart’s total sales for May. The company reported total sales of $107.3 million for the month, an increase of 3.6% from $103.6 million for May last year. 

Comparable store sales increased 8.2%.

Atlanta -- Jones Lang LaSalle has announced that it has closed the sale of Tifton Corners in Tifton, Ga., to Tifton Retail. JLL represented RCG Ventures in the transaction.

Anchors at the 186,629-sq.-ft. Tifton Corners include Big Lots, Save A Lot, Tractor Supply Co., Dollar Tree, Citi Trends and Hibbett Sports. The property is currently 84% leased.

JLL noted that Tifton is near I-75, a major north-south interstate, in south central Ga., two hours north of Tallahassee and three hours south of Atlanta.

Dallas -- CBRE’s National Retail Investment Group arranged the sale of Bryan Towne Center to Lamar Cos. for an undisclosed amount. The 52,268-sq.-ft. retail center serves the Bryan-College Station metropolitan area in Texas.

Shadow-anchored by an adjacent Target store, the five-year-old center includes six acres of undeveloped land that can accommodate an additional 230,225-sq.-ft. of retail space, said CBRE.

The center is 66% occupied. Key tenants include Dollar Tree, Rack Room Shoes, Maurice’s and rue21.

GOODLETTSVILLE, Tenn. — Dollar General reported record sales, operating profit and net income for the first quarter ended May 3, thanks to strong growth in its consumables categories.

New York – Law firm Harwood Feffer LLP is launching an investigation into claims against the board of directors of rue21 Inc. regarding the proposed purchase of the company by Apax Partners. On May 23, rue21 announced a definitive agreement for Apax to buy it, with stockholders receiving $42 in cash per share.

BOCA RATON, Fla. — Office Depot has reached an agreement to sell its 50% stake in Office Depot de Mexico S.A. de C.V. to its joint venture partner Grupo Gigante, S.A.B. de C.V. for roughly $690 million in cash.

Office Depot de Mexico, which was founded in 1994 as a joint partnership between Office Depot and Grupo Gigante, has more than 248 stores throughout Mexico and Central America and more than $1.1 billion in annual sales.

Goodlettsville, Tenn. -- Dollar General reported record net income and sales during for the first quarter, but still reduced the top end of its profit forecast due to moderating same-store sales.

The discounter reported net income of $220 million, up 3% from $213 million in the first quarter of 2012. Net sales totaled $4.23 billion, up 8.5% from $3.9 billion.

Indianpolis -- Simon Property Group and McArthurGlen Group announced an agreement to form a joint venture through which SPG will invest in McArthurGlen, the leader in upscale, European designer outlets. 

Under the agreement, SPG will acquire an ownership interest in six properties and will also become a partner in McArthurGlen's property management and development company.  Included assets are in Austria, Italy, the Netherlands, the United Kingdom and Canada.