-
Phillips Edison acquires grocery-anchored center in Calif.
Cincinnati -- Phillips Edison-ARC Grocery Center REIT II Inc. has acquired Laguna 99 Plaza, adding another property in California to the company's portfolio. Laguna 99 Plaza is an 89,188-sq.-ft.grocery store-anchored shopping center located in Elk Grove, California, part of the Sacramento metropolitan statistical area. Laguna 99 Plaza is anchored by Walmart Neighborhood Market. Other national and regional tenants at the center include GNC, Metro PCS, and Goodwill. -
Report: Wal-Mart orders improved grocery sales
Bentonville, Ark. –- Wal-Mart Stores Inc. reportedly sent a memo to marketing managers on Oct. 2 saying that sales need to improve for chilled and fresh items in stores, including dairy, meat and produce.
According to the New York Times, the memo cited customer complaints about expired items, as well as the need for less backup inventory and the rotation of perishable items.
