Mass Merchant

Newark, N.J. -- Tucker Development Corp. has signed a deal with Wakefern Food Corp. retail cooperative to bring a 67,000-sq.-ft. ShopRite grocery store to Springfield Avenue Marketplace in Newark, N.J.

Wakefern is the merchandising and distribution arm for ShopRite stores.

The new ShopRite will anchor the 125,000-sq.-ft. center set to break ground this fall. When complete, the center will serve approximately 280,000 Newark residents, 180,000 employees and 60,000 college students and faculty.

Vineland, N.J. -- Ulta Beauty will open a new superstore  this fall at Cumberland Mall in Vineland, N.J. The 10,500-sq.-ft. store will feature a full-service salon as part of its offerings.

Cumberland Mall is anchored by Boscov’s, Marshalls, J.C. Penney, Burlington Coat Factory, Michaels, Old Navy and Bed Bath & Beyond.

Bryn Mawr, Pa. -- WP Realty has acquired Plaza at the Pointe, a 149,016-sq.-ft. center located near Pittsburgh in the Parkway West retail submarket.

Anchor tenants include Bed, Bath & Beyond, Old Navy, La-Z-Boy and Party City. An additional 21,556 sq. ft. anchor space is currently vacant.

Latitude 40, a recently redeveloped 60,000-sq.-ft. entertainment center, and a number of national retailers shadow-anchor Plaza at the Pointe from adjacent properties.
 

Leominster, Mass. -- Vintage Real Estate has purchased The Mall at Whitney Field, a 700,000-sq.-ft. regional shopping center in Leominster, Mass., about 35 miles west of Boston. Anchors include Macy’s, Sears, J.C. Penney, Market Basket, Toys “R” Us and Old Navy.

Concurrent with the acquisition, Burlington Coat Factor signed a 10-year lease for a 66,000-sq.-ft. space formerly occupied by Circuit City.

The Woodlands, Texas -- Conn's Inc.’s net income nearly doubled in its first-quarter, with strong sales of furniture and mattresses and some higher prices. The company lifted its fiscal 2014 adjusted earnings forecast.

Conn's earned a better-than-expected $22.2 million for the quarter ended April 30, up from $11.6 million a year ago.

Revenue jumped 25% to $251.1 million. Same-store sales rose 16.5%.

Washington, D.C. -- Los Angeles, New York and Chicago top the list of the cities with the highest organized retail crime activity, with Miami and Atanta rounding out the top five, according to a study by the National Retail Federation.

The NRF’s ninth annual Organized Retail Crime (ORC) Survey found that while organized crime has inched down slightly, it remains widespread. Over 90% (93.5%) of retailers said they had been a victim of organized retail crime during the past year, down from 96% the prior year.

Dallas -- Regency Centers Corp. has closed on an off-market acquisition of Preston Oaks, a 103,503-sq.-ft. infill neighborhood center anchored by H-E-B Central Market. National retailers include Gap, Pier 1 Imports and White House Black Market.

Located in the Preston Hollow neighborhood of Dallas, Preston Oaks serves a market of 109,000 within a three-mile radius. Average household income is $144,000. The market’s population swells to 118,000 during the day.

Suffern, N.Y. -- Ascena Retail Group Inc. reported its fiscal third-quarter net income dropped nearly 37% amid costs related to its acquisition of Charming Shoppes and a charge tied to debt extinguishment. The chain also lowered its full-year earnings forecast.

Net income slipped to $31.2 million for the quarter that ended April 27, from $49.4 million in the same quarter a year ago.

Revenue rose nearly 46% to $1.14 billion, boosted by the company’s acquisitions of the Lane Bryant and Catherines chains. Same-store sales fell 4%.