Retail

Seattle -- Nordstrom announced today plans to open a Nordstrom Rack at The Shops at Knollwood in St. Louis Park, Minnesota. The approximately 33,000-sq.-ft. store is scheduled to open in spring 2015. The property is owned and managed by Rouse Properties Inc.
 
Recently rebranded The Shops at Knollwood, Rouse Properties launched an extensive redevelopment project in an effort to modernize and improve the shopping environment.

Santa Monica, Calif. – Savings website Savings.com has launched PriceJUmp, an online tool that instantly compares Amazon product prices to prices around the Web. Users copy the URL of the product page they are viewing on Amazon and paste it into the PriceJump website search box.

San Jose, Calif. -- EBay Inc. on Wednesday reported that its second quarter earnings rose 5.6%, topping analysts' expectations.

The company posted $676 million in net income, up from $640 million in the same quarter a year ago.

Revenue rose 13% to $4.37 billion from $3.88 billion in the same quarter a year ago.
 

San Francisco – Pottery Barn and Pottery Barn Kids opened stores Tuesday, July 15 at Central Square, Bonifacio High Street, a premier retail destination in Manila, Philippines. As part of parent company William-Sonoma Inc.’s strategic global expansion, these stores are the first Pottery Barn and Pottery Barn Kids locations in Southeast Asia.

Chicago — Capri Capital Partners has formed Capri Retail Advisors, an affiliate that will focus on retail opportunities in underserved and evolving retail trade areas in strategically selected major U.S. metropolitan markets.

Ross Glickman, former chairman and CEO of Urban Retail Properties, has been named president and CEO of the new affiliate. Ken Lombard, former president of the Starbucks in-store entertainment division and also former president of Magic Johnson’s urban retail real estate development company, is chairman and chief investment officer.

Birmingham, Mich. -- Mid-America Real Estate Corporation’s Investment Sales team, in cooperation with NAI Farbman, recently brokered the sale of The Willits Retail in Birmingham, Michigan. The 25,396-sq.-ft. asset was purchased by Southfield, Michigan-based Seligman Group.

The Willits Retail is located at the southeast corner of Willits Street and Bates Street in the Detroit suburb of Birmingham. Willits features Mitchell’s Fish Market and Cameron’s Steakhouse, together with TD Ameritrade and Darakjian Jewelers.

Flowood, Miss. — Inland Real Estate Income Trust, Inc. has purchased the 187,610-square-foot Dogwood Festival Shopping Center located in Flowood, Mississippi, approximately 10 miles northeast of Jackson, Mississippi.

Constructed in 2002, the center is 97.8% leased to 36 tenants, including T.J. Maxx, HomeGoods, Old Navy, Gap, Men’s Wearhouse, Hibbett Sports and several other national tenants. The property is shadow-anchored by Belk, an upscale department store, which was not acquired.

Phillipsburg, N.J. -- National Realty & Development Corp. announced that Hobby Lobby has opened its 56,000-sq.-ft. store at Pohatcong Plaza in Phillipsburg, New Jersey.

Pohatcong Plaza is a 562,000-sq.-ft. power center located at the intersection of Route 22 and Greenwich Road, 1/2 of a mile northwest of Interstate-78 off of Exit 3.