Discount Store

Beachwood, Ohio -- Mall owner DDR Corp. announced Wednesday that it has acquired its joint-venture partner’s 50% ownership interest in two power centers located in Portland, Ore., and in Phoenix. The $70 million transaction gives DDR full ownership of the assets.

Tanasbourne Town Center, in Portland, is a large-format power center totaling 566,000 sq. ft. and anchored by Target, Nordstrom Rack, Bed Bath & Beyond, Ross Dress For Less, Michaels, Old Navy and Petco.

Boston -- Amazon.com is America's most relevant retailer, followed by Target, according to Brodeur Partners’ Retail Relevance Top 10 ranking. The study asked shoppers to look at 21 of the nation's top retailers and select the "most" and "least" personally relevant retailer in four specific areas: practicality, values, sensory appeal and social appeal.

Consumer Reports readers who shop at Target gave the company middle-of-the-road marks on service and its perishable offerings, but the company scored better on pricing and received the highest marks possible on cleanliness.

New York -- More than half of consumers (67%) said they plan to spend the same or more at retailers than they did last year, a nine percentage point increase from last year, according to the 2012 Spring Consumer Pulse Survey by Deloitte. Consumers also feel slightly better about the economy this year than last; 57% of survey respondents said the economy has been recently recovering, compared with 52% last year.

Plymouth Meeting, Pa. -- Fameco Real Estate announced that David Hinkle has joined the company as VP business development. 

Hinkle previously served as president and CEO of NMD, the holding company for National Book Warehouse and The Book Market, a discount book seller with 185 stores; most recently he was CEO and Co-founder of VPI Business Advisors.

 

Erie, Pa. -- Youngstown, Ohio-based Cafaro Co. said that Ross Dress for Less will open a store at the Millcreek Mall Complex near Erie, Pa.

The new store will open in the Millcreek Pavilion section of the complex this fall. It will occupy more than 25,000 sq. ft. next to Old Navy.

Millcreek Mall Complex, located in Millcreek Township, comprises more than two million sq. ft. of shopping, lodging, dining and entertainment.
 

Indianapolis -- Mall owner Simon Property Group said Tuesday that Saks Fifth Avenue Off 5th will anchor the company’s two new centers in development in its Premium Outlets division: Phoenix Premium Outlets and St. Louis Premium Outlets.

Phoenix Premium Outlets in Chandler, Ariz., is currently under construction with a spring 2013 opening planned. Phase 1 of the center will be comprised of 360,000 sq. ft. housing approximately 90 outlet stores featuring high-quality designer and name brands.

Dallas -- Cypress Equities said that Fit Factory Nutrition has signed a lease to occupy 1,096 sq. ft. at The Shops at Mockingbird, located in Dallas.

The vitamin retailer is a new start-up business and is slated to open its debut store in summer 2012.