Mass Merchant

One topic that’s been on my mind lately is the growing Hispanic market in the U.S., and what its clout and purchasing power will mean for retailers — and, subsequently, for retail real estate — in the years ahead. “Emerging” is probably too mild of a word to describe the Hispanic market — exploding might be more accurate.

Virginia Beach, Va. — Anthropologie has signed a 9,431-sq.-ft. lease in The Town Center of Virginia Beach, Va., and expects to open in fourth quarter 2014. The McDevitt Co. represented Anthropologie in the transaction. Divaris Real Estate, which leases The Town Center, represented the landlord, Armada Hoffler Properties.

Lewisville, Texas — Kroger and retail developer Cencor Realty Services will break ground on a 123,000-sq.-ft. Kroger Marketplace this week. Slated to open in the first quarter of 2015, the new Kroger will anchor a community-regional-draw center located in the 2,500-acre master-planned community of Castle Hills, Texas.

In addition to the Kroger Marketplace, the center’s first phase will include 40,000 sq. ft. of in-line retail space and several ground sites for national restaurant concepts that have not been announced yet.

Cooking Light, Time Inc.’s leading epicurean brand, has expanded its prepared-foods line and co-branded SodaStream flavors to Target and Walmart.

Oak Brook, Ill. — Retail Properties of America has announced an agreement to acquire six multi-tenant retail assets through the dissolution of its MS Inland joint venture. The joint venture owns the portfolio, with 20% owned by RPAI and 80% owned by RPAI’s partner. RPAI will acquire its partner’s 80% interest in the six properties.

Alameda, Calif. — Charming Charlie has signed a 10-year lease for a new 5,570-sq.-ft. store at Alameda South Shore Center in Alameda, California. Cornish & Carey Commercial Newmark Knight Frank represented the landlord, Jamestown, the real estate investment and management firm, in the transaction.

Slated to open in September, the new Charming Charlie will join Carter’s and Crazy 8, two more recently signed tenants, in the 594,000-sq.-ft. open-air shopping center.

New York -- U.S. retail and consumer  merger & acquisition activity during first quarter 2014 was primarily driven by five multibillion dollar transactions, with more than half aligned to the food and beverage sector, confirming a positive deals outlook for the year, according to PwC’s U.S. retail and consumer deals insights first quarter 2014 report.
   

ECRM compared retail circular advertising in April 2013 versus April 2014 and noted trends occurring across top retail chains. Toys “R” Us experienced a massive 350% increase in page count year-over-year due to its release of three circulars this April versus one last year. Only a short eight-page “Bike & Trike Trade-in” circular was run last year. This year, the bicycle circular ran in the last week of the month again, but the other two circulars appeared to be a response to the late Easter this year, with a focus on $5 or less basket-fillers.