Mass Merchant

Arlington, Va. — Simon Property Group has announced details of a multi-phase renovation and expansion at The Fashion Centre at Pentagon City in Arlington, Va. Anchored by Nordstrom and Macy’s, The Fashion Centre is home to more than 170 stores.

American Express added Walmart’s U.S. network of 4,100 stores as locations where customers can participate in the card issuers prepaid Serve offering.

New York — Vornado Realty Trust plans to spin off nearly 16.1 million sq. ft. of shopping center assets into a new publicly traded REIT by the end of 2014, leaving the company with a largely office-centric portfolio, according to SNL Real Estate.

The move will simplify Vornado’s investment strategy and enable the company to focus on the ownership of office assets in the Washington, D.C., and New York City regions, including the high-value Manhattan office over retail assets.

Lynchburg, Va. — Five Below has signed a 7,732-sq.-ft. lease at Wards Crossing West shopping center in Lynchburg, Va. It will be Five Below’s first store in the Lynchburg trade area.

Divaris Real Estate’s Richmond office represented Five Below in the transaction. DRE is the exclusive representative for Five Below in southwest Virginia.

Ewing, N.J. — Giant Wine & Liquor, doing business as Buy Rite Liquor, has leased 6,000 sq. ft. at the 360,000-sq.-ft. Capitol Plaza in Ewing, N.J. Levin Management, the exclusive leasing and managing agent for the center negotiated the long-term lease.

Umang Shah was named global director for social media and digital marketing at Campbell’s after serving in a similar capacity at Walmart for the past two years.

Woodland, Calif. – The Gateway Shopping Center in Woodland, Calif. has reportedly received permission to expand the types of businesses allowed in its use permit. According to the Woodland Daily Democrat, the Woodland Planning Commission is granting approval for food services, banks, professional service offices, nail salons and dry cleaners to be located at the center.

RadioShack and Payless Shoes are also reportedly awaiting approval to open stores at the center.

Oak Brook, Ill. — Inland Real Estate Income Trust has acquired two shopping centers in Texas, and Florida, in separate transactions: Mansfield Pointe Shopping Center in Mansfield, Texas, and North Hills Square Shopping Center in Coral Springs, Fla.

IREIT acquired the 148,529-sq.-ft. Mansfield Pointe for $28.4 million and the 63,829-sq.-ft. North Hills Square Shopping Center for $11.05 million.