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Mass Merchant

  • Target shareholders show displeasure with board

    All 10 members of Target’s board of directors were re-elected at the retailer’s annual meeting on June 11, but there was strong opposition to several members and a proposal requiring an independent chairman nearly passed.

  • Children’s Place names American Express exec as director

    Secaucus, N.J. — The Children’s Place Inc. has named Susan Sobbott to the board of directors as a Class II director to serve for a three-year term expiring in 2017. Sobbott currently holds the position of president of Global Corporate Payments, a global division of the American Express Company. From 2004 to early 2014, she was President and General Manager of American Express Open. The addition of Sobbott expands the company's board of directors to eight.

  • Blink Fitness jogs into Clifton, N.J., center

    Clifton, N.J. — Blink Fitness has leased a 15,000-sq.-ft. location at the 80,000-sq.-ft. Clifton Plaza shopping center in Clifton, N.J., according to Levin Management (www.levinmgt.com), the property’s managing and leasing agent.

    Co-anchored by a 24,000-sq.-ft. Big Lots and a 14,000-sq.-ft. Dollar Tree, Clifton Plaza’s tenant roster includes GameStop, Radio Shack, Angel Tip Nails & Spa, Bruno’s Pizza, Sally Beauty Supply and Valley National Bank.

  • DDR and Blackstone to acquire 76 shopping centers for $1.975 billion

    Beachwood, Ohio — DDR Corp. and an affiliate of Blackstone Real Estate Partners VII have announced the formation of a third joint venture to acquire 76 shopping centers currently owned by American Realty Capital Properties, Inc.

    The joint venture will acquire the portfolio in a transaction valued at $1.975 billion, including assumed debt of $461 million and approximately $800 million of new financings.  

  • The most powerful man in retailing

    When it comes to powerful retail CEOs, the names Dave Dillon at Kroger, Frank Blake at Home Depot, Craig Jelinek at Costco and Doug McMillon at Walmart come to mind. But they’ve got nothing on Greg Penner.

  • Mid-America brings four retailers to Chicago MSA centers

    Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has secured four new retail leases on behalf of three lifestyle shopping centers in the Chicago metropolitan area. Mid-America represented the landlord in each transaction.

    In Algonquin, Ill., Pure Mountain Company has taken 8,824 sq. ft. at Algonquin Commons in Algonquin, Ill. Premier Commercial Realty represented the tenant. Dick’s Sporting Goods, DSW, Old Navy, PetSmart and Trader Joe’s anchor the 578,825-sq.-ft. Algonquin Commons lifestyle center.

  • Report: Target issues guidelines for store janitors hired by outside vendors

    New York — Target Corp. is introducing a new policy by imposing new rules on the cleaning companies it hires to clean its stores in the Minneapolis-St. Paul area, Businessweek reported.

  • Duke and Walton least popular board members

    Former Walmart president and CEO Mike Duke and company chairman Rob Walton drew large numbers negative votes when they stood for re-election to the retailer’s board at the annual shareholders’ meeting on Friday, June 6.

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