News

Tops Friendly Markets returns to local ownership
Williamsville, N.Y. -- Tops Friendly Markets, a leading full-service grocery retailer in upstate New York, Northern Pennsylvania, and Western Vermont, announced that the previously announced acquisition of Tops Holding II by a group of senior managers of the company led by Tops president and CEO, Frank Curci, closed on Dec. 1.
Experian: Hispanics shop more online and are more responsive to mobile advertising
New York -- Hispanic adults are more frequently visiting retailer websites than the average online population, according to Experian Marketing Services.

During a 24-week period, from June 2013 through November 2013, Hispanics' market share of visits to Experian Marketing Services' Hitwise Retail 500 Websites was 21% higher on average than the online population. Further, the analysis found that this market share widened in October 2013 and continued to increase through November.

Investing in Extreme Makeovers

Trademark has invested in two distressed properties, with plans to transform both into top performers
The slow recovery is leading many developers to examine growth alternatives to new development. Consider, for example, Fort Worth, Texas-based Trademark Property Co.’s idea: invest in distressed properties with excellent real estate and redevelop into new and ambitious concepts. Examples include The Shops at Napa Center in Napa, Calif., and Victory Park in Dallas.
Surplus Retail Property in the Northeast

While owners and developers are redeveloping, expanding and beginning to plan new developments across the Northeast, property surpluses created by the recession remain. Where are these surpluses? How will they be disposed of? Chain Store Age asked Andy Graiser, co-president of A&G Realty Partners, to talk about disposition today in the Northeast. Graiser is a property disposition expert with more than 25 years of experience with retail real estate.
Characterize surplus retail real estate in the Northeast.
Optimizing Shopping Center Portfolios

Optimizing retail store portfolios and optimizing shopping center portfolios seem like two different things. In fact, the two tasks have similarities.
“To retailers, optimization is getting store deployment across the marketplace right,” explained Mike Makinen, COO with MPI, Mall Properties Inc., New York City. “We have a similar strategy. We have a mix of retailers within our shopping center portfolio, and we try to optimize the assortment of retailers, restaurants and service tenants within each center.”
Maximizing Success

Real estate’s role in portfolio optimization
Real estate plays a key role in optimizing retail store portfolios. Stores must have enough square footage but never too much. Portfolios must also match the number of stores across regions to customer demand.
“Portfolio optimization means reducing or adding store square footage and matching merchandising and inventory to customer demand in a trade area,” said Kenneth Katz, principal with Houston-based Baker Katz.
Northeast Market Profile Case History: Fashion Bug Disposition

Disposition firm: A&G Realty Partners
Number of properties: 600
Locations: 95% in strip centers, with the balance in middle market malls across the United States
Status: A&G successfully terminated more than 300 leases. The balance had natural lease expirations.
Project Profile: Yorktown Centre

Location: Downtown Erie, Pa.
Size: 196,728 sq. ft.
Developer: Existing property acquired in August 2013 by Phillips Edison-ARC Shopping Center REIT Inc.
Major tenants: Giant Eagle, Panera Bread, The UPS Store, GNC, Wells Fargo, Eat’n Park
Project Profile: Marlton Crossing

Location: 101 S. Route 73, Marlton, N.J.
Size: 333,255 sq. ft.
Developer: Brixmor Property Group
Major tenants: T.J. Maxx, DSW, HomeGoods, Michaels, Burlington Coat Factory, Five Below
Status: Completed
Project Profile: Thornwood Village Center

Location: Thornwood, N.Y., in Westchester County
Size: 20,175 sq. ft.
Developer: DLC Management Corp.
Major tenants: Walgreens
Status: Complete
Project Profile: Moorestown Mall

Location: Moorestown, N.J.
Size: 1,001,000 sq. ft.
Developer: PREIT
Major tenants: Lord & Taylor, Marc Vetri’s Osteria, Jose Garces’ Distrito, Firebirds Wood Fired Grill, Regal Premium Experience Theater, Rizzieri Salon & Spa, Francesca’s Collection (in lease negotiations) and a number of best-of-breed regional retailers
Status: Redevelopment to be completed in 2014
Project Profile: Belmont Chase

Location: Ashburn, Va.
Size: Approximately 100,000 sq. ft.
Developer: Regency Centers
Major tenants: Whole Foods Market will anchor the project. Regency is currently negotiating with prospective specialty retail, restaurant and health and wellness tenants.
Status: Proposed start is spring 2014, with completion planned for fall 2014.