Supermarket/Grocery

Weiss Markets is expanding its store portfolio.

The retailer plans to convert 38 Food Lion supermarket locations to Weis Markets stores. Weiss Markets has completed the purchase of 38 Food Lion stores and plans to convert the locations to the Weiss banner by the end of October. The acquired stores are located in the states of Maryland, Virginia and Delaware.

Morrisons is leveraging its partnership with Amazon to deliver the next wave of convenience for its time-starved shoppers.   The United Kingdom-based grocer plans to install hundreds of Amazon Lockers throughout its supermarkets this year, a move that allows customers to pick up Amazon orders at the store rather than wait for a home delivery.   

Boating goods retailer West Marine has leased 14,650 sq. ft. at St. Georges Crossing, bringing the Woodbridge, New Jersey, center to full occupancy.   Leasing agent for the center, Levin Management, reports that several other centers in its portfolio have reached 100% occupancy in recent months, indicating renewed strength in both the economy and retail in the Northeast. Levin handles a portfolio of 95 properties in that region and in Mid-Atlantic states.  

Search engines are getting knocked down a peg when it comes to where consumers begin their online research.   More than two-thirds (67%) of shoppers now begin their online searches on a retail site, not a search engine, according to “Browsing & Buying Behavior by Category: 2016,” a report from HookLogic.   

Jo-Ann Fabric and Craft Stores has appointed Bryan Pugh to the newly created position of executive VP, stores and store operations. He will lead financial, operational and cultural leadership of Jo-Ann Stores.
    
Pugh joins Jo-Ann from Fred’s Pharmacy & Super Dollar where he served as executive VP, chief merchandising and marketing officer. His experience also includes serving as senior VP, chief merchandising officer at Walgreen Co. in addition to several roles of increasing responsibility at Tesco.
 

Patton Square Shopping Center in Woodruff, South Carolina, has been acquired by Pro Vest Properties for $7.3 million dollars. SRS Real Estate partners brokered the deal for the seller, an affiliate of Chen Development.

“Patton Square is a solid grocery-anchored neighborhood center with minimal competition in the market,” said Pierce Mayson, VP for SRS’ Southeast Investment Sales Team. “With a long-term anchor lease and very solid sales numbers, this asset is an excellent purchase for the buyer.”

Officials in Sarasota, Florida, are envisioning building a mixed-use project on the site of the town’s Ringling Shopping Center, the site over which Walmart lost a fight to build a new store.

The 9.7-acre site could accommodate 222 residential units and 175,000 sq. ft. of office and retail space. Customer traffic at Ringling Shopping Center, Sarasota’s oldest, had fallen off precipitously in recent years.

Kroger Co. posted second quarter earnings that topped expectations but the chain cut its guidance for the year citing ongoing price deflation.

"If you look at the price of milk, eggs and commodities like that, they're historically low. Meat continues to be deflationary and produce is on a deflationary trend," Kroger CFO Michael Schlotman said on CNBC on Friday.

Digital payment volume may be growing industry-wide, but there is still plenty of currency filtering through retail stores.  

Kimco Realty Corp. has purchased the remaining 85% interest in a four-property joint venture portfolio, a deal that includes the assumption of $103 million in mortgage debt. The company also announced it had acquired a Whole Foods-anchored center in the D.C. area for $95 million.