Supply Chain & Merchandising

Rouse Properties has divested itself of an 821,564 center in Eugene, Oregon, whose tenants include Target, Cinemark, Cabela’s, Kohl’s, Hobby Lobby, and Ulta. The Shoppes at Gateway was purchased by Balboa Retail Partners for an undisclosed amount.   “The Shoppes at Gateway is a thriving shopping center that drew significant investor interest," said JLL EVP Geoff Tranchina, who represented Rouse in the deal. JLL will continue on as the managing agent of the property.  

Amazon’s voice-controlled assistant is becoming a more powerful shopping tool.     Amazon announced on Tuesday that Prime Now subscribers can now use Alexa to order from Prime Now and its two-hour delivery service in the cities where it is available (30 in total at the present time).   In addition, customers can also order from Prime Now’s newly launched alcohol delivery service in the markets where it is offered.  

Target Corp. has unveiled its next-generation store format, which will make its debut in Richmond, Texas, a Houston suburb, in October.   In addition to the new 124,000-sq.-ft. Richmond store, 40 additional Target locations will receive elements of the redesign when they are updated, also in October.      

Avison Young has bought a Raleigh, North Carolina-based leasing and property management company and, in the process, added 65 shopping centers to its listings in the Carolinas.   The acquired company, Hunter & Associates, was founded in 1989 by Banks Hunter when he took over management of the historic Professional Building in downtown Raleigh. Hunter focused its efforts on the leasing and management of neighborhood and community centers to become the largest, locally-based retail brokerage in the region.  

Jeff Gordman, the former CEO of Gordmans, plans to submit a bid for the bankrupt 106-store chain that would rescue it from liquidation. But he isn’t the only interested party.   

Håkon Helgesen, analyst at GlobalData Retail, comments on Francesca’s fourth quarter and full year results:  

Bolstered by positive consumer indicators, retail CFOs are largely optimistic for 2017. But competition and consolidation could cloud their outlook.    That’s according to BDO USA’s 11th annual Retail Compass Survey of CFOs, in which respondents predict a 4.9% bump in total sales this year, up from 3.4% in 2016. The bullish predictions are echoed by online sales projections, with a 10.7% increase expected for the year ahead — the highest in survey history.   

Bankrupt Hhgregg Inc.’s proposed purchase by an anonymous buyer has collapsed.