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Social Shopping Fuels ModCloth Growth
Unusually high community engagement, user-driven initiatives, mobile growth and a love of all things vintage — that’s the formula behind the growth of ModCloth.com, which hit $100 million in sales just a decade after it launched out of co-founder Susan Gregg Koger’s dorm room back in 2002.
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Federal Realty acquires two retail centers in New Jersey
Rockville, Md. — Federal Realty Investment Trust has acquired controlling interests in two shopping centers in Affluent Monmouth County, N.J., for $161 million. Both the Grove at Shrewsbury and Brook 35 are located on Route 35 and serve the emerging bedroom and second home communities of Shrewsbury, Red Bank, Rumson, Fair Haven, Little Silver, and Middletown. The acquisition was made with a combination of downREIT units, cash and the assumption of $68 million of fixed rate debt secured by the properties.
