Mass Merchant

Tampa, Fla. — RMC Property Group has earned two exclusive leasing assignments on Florida’s southern West Coast.

First is Fountain Court, a 180,420-sq.-ft. community shopping center in Bradenton’s Highway 64 retail corridor near the beaches and Anna Maria Island. Anchor tenants include Bealls Department Store and Planet Fitness.

Atlanta -- Severe winter weather hindered shopping activity in February, according to First Data Corp.'s SpendTrend report, which tracks same-store POS data by credit and debit cards, closed loop prepaid cards, EBT, and checks from the nearly four million retail locations serviced by First Data.

Consumer spending was also restrained by the termination of emergency unemployment insurance, a reduction in food stamp benefits and low-income growth, First Data said.

Los Angeles — Brixton Capital has acquired TownGate Center in Moreno Valley, Calif., for $41,971,000, a 6.9% cap rate, according to CBRE, which represented both the buyer and seller in the transaction. The seller was a partnership between Walton Street, a private equity firm, and Fritz Duda Co.

The CBRE marketing system distributed more than 460 offering memoranda to investors and brokers. The managed bid offer process generated more than nine offers. The purchase price mirrored CBRE’s pricing guidance to the seller.

Purchase, N.Y. — Jersey Mike’s Subs has opened a new shop at Kohl’s Plaza in Holmdel, N.J. Kohl’s and Stein Mart anchor the 184,575-sq.-ft. shopping center owned and managed by National Realty & Development Corp.

The tenant line-up also includes 7-Eleven, Harmon Stores, Avenue, Wells Fargo and the Bayshore Academy of Dance.

National Retail Federation SVP David French told the House Judiciary Committee in a letter this week that legislation is needed to level the playing field between local retailers and out-of-state competitors, as the NRF continues to push Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes.

York, Pa. -- Bon -Ton Stores said its CEO, Brendan Hoffman, will step down early next year. The announcement follows a disappointing fourth quarter for the company.

Hoffman, a former CEO of Lord & Taylor, will leave Bon-Ton on Feb. 7, 2015, when his contract expires. He also will step down as director. Hoffman cited "strictly personal reasons" for his decision to leave.

He was appointed CEO of Bon-Ton in February 2012.

Smaller format stores are all the rage these days. Dollar General, which already operates nearly 12,000 stores, plans to open 700 more units this year. Walmart recently announced plans to accelerate growth of its smaller format stores by opening between 270 and 300 small stores, more than double the 120 to 150 store range it projected last fall. Even Target has gotten in on the action with plans to open its first Target Express store near downtown Minneapolis this summer.

New York -- Swatch Group SA is suing Target Corp. for illegally selling watches that copy Swatch watches.

Swatch, in a lawsuit made public on Monday, accused the retailer of infringing its designs for "multi-colored" and "zebra watches." The watchmaker said the quality of the Target watches is inferior compared to its own and that their sale is likely to confuse consumers and hurt Swatch's sales.