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ARCP acquires Cole for $11.2B
New York -- American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.
ARCP has secured $2.75 billion in fully committed financing from Barclays. The loan is expected to close in the first half of next year.
Updated ARCP pro forma 2014 guidance indicates that adjusted funds from operations will move from $1.13 to $1.19 per share, compared with 2013 guidance of $0.91 to $0.95 per share.
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Hands-on Shopping
Hointer converges mobile and in-store shopping
Hointer Inc., a Seattle-based denimwear retailer, may be new (the first store opened in April 2012) and small (two branded stores in Seattle plus a pop-up inside a Levi’s store in New York City), but its goal is impressively large.
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Dick’s to power ESPN's online shop
Dick’s Sporting Goods and ESPN have entered into a multi-year agreement which will allow Dick’s to be the exclusive e-commerce provider of licensed merchandise and sporting goods on ESPN.com and related digital properties.
Dick’s and ESPN are no strangers. The sporting goods retailer sponsors ESPN's Champ Week coverage for college basketball, and collaborates on content such as Hell Week — an original documentary produced by Dick’s Sporting Goods Films in association with ESPN, which aired on ESPN2 and ESPNU earlier this year.
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Indoor Location Analytics Improve Retail Ops, Inside and Out
Jim Riesenbach, CEO of indoor location analytics solutions provider iInside, recently had a conversation with Chain Store Age about the numerous advantages both retailers and consumers can obtain from precise understanding and analysis of how customers move and shop inside the store.
How can both retailers and consumers benefit from targeted, accurate indoor location metrics?
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Focus on Controls
Changes to California’s Title 24 tighten building energy-efficiency standards
California leads the nation in efforts to conserve energy, and it shows no sign of slowing down anytime soon. Changes to the state’s mandatory Title 24 Building Energy Efficiency standards — changes that will make commercial buildings 30% more efficient than the previous 2008 standards — are scheduled to take effect Jan. 1, 2014.
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Walgreens Net-Zero Store Set to Open
At presstime, construction was wrapping up on Walgreens’ new location in Evanston, Ill. The store is the drug store chain’s — and the nation’s — first net-zero energy retail store. In addition to seeking LEED Platinum certification, Green Chill Platinum certification and Energy Star Certification, it will be the showcase project in the U.S. Department of Energy’s Better Building Challenge.
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