Retail

Residents of tony Hilton Head Island, S.C., are getting the one thing they don’t currently have: a Kroger Marketplace, situated in the sprawling 42-acre mixed-use project under development by Kroger Real Estate and Blanchard & Calhoun Commercial.

Sunbury, Pa. -- Weis Markets announced it would invest $135 million in its 2013 capital expenditure program, an 8% increase compared to the year prior.
   
“To position our company for continued growth, we have made record investments in our store base,” and vice chairman Jonathan H. Weis, at the company’s annual shareholder meeting. “Look for more of the same in 2013 when we increase our Cap Ex investment to $135 million – an 8% increase compared to 2012 – and a 33% increase compared to 2011.”

New York -- The CEO of Best Buy, Hubert Joly, earned compensation worth $19.6 million in his five months on the job in 2012, the Associated Press reported.  

Joly, a turnaround expert, took the reins of the chain in September. Former CEO Brian Dunn left in April when a board investigation found that Dunn violated company policy by having a "close personal relationship" with a female staffer. Board member Mike Mikan, one of Best Buy’s board members, served as temporary CEO before Joly was hired.

Armond, N.Y. -- First quarter online shopping in 2013 grew more than 20% over the same period last year, and more than five times in-store sales growth, helping drive up department store and home goods purchases, according to the IBM Online Retail Index.  
 
The IBM Index comes on the heels of the U.S. Department of Commerce’s Census Bureau report which announced in-store sales for the January through March 2013 period were up 3.7%.

The IBM Online Retail Index also found:

Miami -- Jones Lang LaSalle announced it has closed the sale of Kendall Corners on behalf of joint owners Weingarten Realty Investors and a subsidiary of TIAA-CREF.

Miami-based Orion Ventures purchased the 96,515-sq.-ft. shopping center.

Dallas -- SRS Real Estate Partners and Cresa announced an agreement to form a new company to perform lease administration services for retail, office and industrial clients.

The new company will be known as SRS-Cresa Lease Administration, and will deliver a spectrum of lease administration services including critical date management, CAM audits, occupancy cost reconciliations, and full portfolio lease administration services out of currently established offices in Dallas and in Chicago.

Washington, D.C. -- Douglas Development announced that it has purchased a new mixed-use property in Chinatown DC. The 10,000-sq.-ft. building includes three levels of office space and 4,000 sq. ft. of street-level retail.
     
Douglas Development acquired the property from Washington, D.C.-based law firm Wingfield & Ginsburg, which has since leased back all of the office space from Douglas Development.
      

Rye Ridge, N.Y. -- The Charter Realty Group said that it has arranged its second transaction on behalf of SoulCycle for a 2,350-sq.-ft. space at Rye Ridge Shopping Center, located in Rye Brook, N.Y.  

Charter previously represented SoulCycle, an indoor fitness cycling center, in a 7,000-sq.-ft at One Fawcett Place in Greenwich, Conn.