Mass Merchant

A Gainesville, Florida, mixed-use project now features a strategically assembled team to lead the property to its planned fall 2018 opening.   According to Butler Enterprises president Deborah Butler, the team of local, national and international design and construction professionals will work with Butler to create a world-class retail and residential core for Gainesville.   The team consists of:  

Kristin Campbell is executive VP and general counsel for Hilton Worldwide Holdings, but it’s her prior office supply retail experience that motivated Office Depot to proffer a seat on the board.   Prior to joining Hilton, Campbell spent 18 years at Staples, where she was most recently senior VP, general counsel and corporate secretary.  

Mike McNamara isn’t shy about making changes.   Target Corp.’s chief information officer has launched a hiring spree aimed at turning Target into an engineering powerhouse.   Click here for more. 

With the addition of Jembro Stores and Cricket Wireless, Saddle Brook Square – in Saddle Brook, New Jersey – has reached full occupancy, according to brokerage firm Ripco Real Estate, which has led the leasing efforts.   The 221,892-sq.-ft. shopping center is anchored by Walmart, TJ Maxx, Modell’s, and 24 Hour Fitness. Jembro Stores, a regional discount retailer, will occupy 5,280 sq. ft. adjacent to TJ Maxx. Cricket Wireless occupies 2,100 sq. ft.  

Deal volume in the retail and consumer sector is up, but deal value is down.   Deal volume in the second quarter in the sector reached its highest level in the past 12 months, with 282 announced deals, up 5% over the first quarter, according PwC’s Q2 2016 retail and consumer M&A report.  

Two weeks after its second annual Prime Day surpassed expectations, Amazon’s winning streak continued as it posted its fifth straight quarter of profitability.    The online giant posted adjusted earnings per share of $1.78 for the quarter ended June 30, easily surpassing expectations for $1.11. Net income was $857 million, compared with $92 million in the year-ago period.      

Consumers are putting their best foot forward when it comes to spending.

Phillips Edison & Company announced the appointment of Beth Farrell Donnelly as VP and assistant general counsel. She will work with senior VP and General Counsel Tanya Brady to provide legal advice on all aspects of the company’s business.