News

In 2013, Newport Capital Partners paid just over $31 million for Danada Square East, a 200,000-sq.-ft. center in Wheaton, Illinois, anchored by a Dominick’s supermarket. Yesterday, Newport sold the property for $63 million.  

Walgreens, Rite Aid extend date of merger agreement to allow for store divestures   Walgreens Boots Alliance and Rite Aid announced that they have mutually agreed to extend the end date of their merger agreement from Oct. 27, 2016 to Jan. 27, 2017.   The companies now expect the transaction will close in early calendar 2017.  

Ron Loveless, the first CEO of Sam's Club who grew the retailer for several years before retiring in 1986, has died.   According to the Northwest Arkansas Democrat Gazette, Loveless died Monday at the age of 73 after "a long battle with cancer," according to a memo from Walmart CEO Doug McMillon and Sam's Club CEO Rosalind Brewer sent to Sam's Club employees.  

The role of smartphones in the evolution of mobile commerce has hit an epic status.   Mobile e-commerce, through both apps and browsers, jumped 60% in 2015 to reach $120 billion. More importantly, smartphones alone are generating $0.70 for every $1 made in mobile commerce, according to “Mobile Online Retail Payments 2016: Reinventing Shopping in a Mobile-First Era,” a report from Javelin.  

The world’s largest social network platform has launched an array of new features, including the ability to order food (via Delivery.com) without ever leaving its site.    For local businesses that require appointment, such as spas and salons, Facebook users can now request a time via the business’ Facebook Page and view the company’s entire slate of services and offerings. The company will confirm the appointment with the customer via Messenger.     

Target Corp. has knocked Walmart off its perennial top spot in an annual ranking of the U.S. companies with the most solar energy capacity.      Target now has 147.5 megawatts (MW) of installed solar capacity, according to the Solar Energy Industries Association’s 2016 Solar Means Business report, which ranks companies based on capacity current through the third quarter of this year.     

Amazon shoppers will have new venues where they can pick up and re-turn orders — local malls.   Washington Prime Group Inc. has entered into a partnership with Ama-zon to add self-service Amazon Lockers at 50 of its retail centers. The lockers, which are destinations where customers can pick up and return Amazon.com packages, will begin popping up as soon as next month.    

Harris Teeter is no stranger to home delivery, but now more North Carolina-based shoppers can get their orders within an hour.   The grocer, a subsidiary of Kroger Co., is expanding its partnership with app-based grocery delivery service Shipt to get groceries into the hands of shoppers throughout the Charlotte metro area. The program, which was launched last year, was initially limited to the state’s Research Triangle region. This expansion extends the service to more than 50 Harris Teeter stores in the Charlotte area. 

In line with driving the company’s digital services, Wakefern is turning its attention to mobile payments.   Specifically, it will enable customers to use Chase Pay when paying for groceries at its ShopRite and The Fresh Grocer stores. The mobile wallet allows customers to input Chase Visa consumer credit and debit cards into the app, then use the solution to digitally make purchases, and earn rewards. Token technology keeps payments more secures.  

Once the mecca of “Valley Girls” lured by white marble interiors and retailers like Saks and I. Magnin, the Promenade Mall in Warner Center north of Los Angeles will be razed and replaced by a $1.5 billion mixed-use development.   Westfield, owner of the 43-year-old, 550,000-sq.-ft. mall, has announced a re-imagination of the site in line with the Los Angeles City Council’s Warner Center 2035 plan to urbanize the area.