Mass Merchant

Birmingham, Mich. -- Mid-America Real Estate Corporation’s Investment Sales team, in cooperation with NAI Farbman, recently brokered the sale of The Willits Retail in Birmingham, Michigan. The 25,396-sq.-ft. asset was purchased by Southfield, Michigan-based Seligman Group.

The Willits Retail is located at the southeast corner of Willits Street and Bates Street in the Detroit suburb of Birmingham. Willits features Mitchell’s Fish Market and Cameron’s Steakhouse, together with TD Ameritrade and Darakjian Jewelers.

Santa Monica, Calif. – Savings website Savings.com has launched PriceJUmp, an online tool that instantly compares Amazon product prices to prices around the Web. Users copy the URL of the product page they are viewing on Amazon and paste it into the PriceJump website search box.

Chicago — Capri Capital Partners has formed Capri Retail Advisors, an affiliate that will focus on retail opportunities in underserved and evolving retail trade areas in strategically selected major U.S. metropolitan markets.

Ross Glickman, former chairman and CEO of Urban Retail Properties, has been named president and CEO of the new affiliate. Ken Lombard, former president of the Starbucks in-store entertainment division and also former president of Magic Johnson’s urban retail real estate development company, is chairman and chief investment officer.

Flowood, Miss. — Inland Real Estate Income Trust, Inc. has purchased the 187,610-square-foot Dogwood Festival Shopping Center located in Flowood, Mississippi, approximately 10 miles northeast of Jackson, Mississippi.

Constructed in 2002, the center is 97.8% leased to 36 tenants, including T.J. Maxx, HomeGoods, Old Navy, Gap, Men’s Wearhouse, Hibbett Sports and several other national tenants. The property is shadow-anchored by Belk, an upscale department store, which was not acquired.

The National Retail Federation (NRF) is supporting the Marketplace and Internet Tax Freedom Act. The legislation was introduced by Senators Michael Enzi, Richard Durbin, Lamar Alexander, Heidi Heitkamp, Susan Collins and Mark Pryor.

Seattle -- Nordstrom announced today plans to open a Nordstrom Rack at The Shops at Knollwood in St. Louis Park, Minnesota. The approximately 33,000-sq.-ft. store is scheduled to open in spring 2015. The property is owned and managed by Rouse Properties Inc.
 
Recently rebranded The Shops at Knollwood, Rouse Properties launched an extensive redevelopment project in an effort to modernize and improve the shopping environment.

East Peoria, Ill. -- Cullinan Properties said that Noodles & Company will be opening a new restaurant in November at the Levee District in East Peoria, Illinois.

Dublin, Calif. – Ross Dress for Less will open two new stores in the Mid-Atlantic region on July 19. The stores opening are in the MacDade Mall in Glenolden, Pennsylvania and Windsor Heights Shopping Center in East Windsor, New Jersey.

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.