REAL ESTATE

U.K. sporting goods chain acquires two U.S. retailers
Sports Direct, the largest sporting goods retailer in the United Kingdom, has expanded its presence in the United States. The company announced that it has completed its acquisition of Bob's Stores and Eastern Mountain Sports. It will initially operate a total of some 50 stores in the Northeast and five EMS outdoor adventure schools, along with e-commerce sites for both brands.
Home decor chain enters new market
At Home, the fast-growing home decor and accessories retailer, continues to grow its store presence. The retailer has opened its first Massachusetts location, in Seekonk. It's one of 25 stores the chain will open this year.

Minny Penney’s to become an ‘athletic resort’

The J.C. Penney store in Edina, Minnesota, with little movement in the aisles is about to see a lot more action. Simon has announced that the 120,000-sq.-ft. space at its Southdale Center will close and be replaced by a Life Time ‘athletic resort.’ The company runs 123 centers in the U.S. promoting healthy eating and exercise regimens. Centers are one-stop fitness shops offering tennis, swimming, basketball, and yoga along with weight loss and nutrition education.
GDA acquires portion of Michigan power center

GDA Real Estate Services has purchased an 174,353-sq.-ft. portion of the Marketplace at Delta Township Lansing, Michigan, in a deal brokered by Mid-America Real Estate Corporation. The sale price was not disclosed. Key tenants at the acquired property include Michael’s, Petsmart, Tractor Supply, and Ulta Beauty. It is shadow-anchored by Walmart and Lowes.
Denver’s RiNo district to get six blocks bigger

Six blocks of manufacturing operations, auto body shops, art galleries in Denver are about to be redeveloped and outfitted with the fitting Renaissance-like name of Giambrocco. The co-venture of Tributary Real Estate and Charles Street Partners is an extension of the wildly popular RiNo District and will include 500,000-sq.-ft. of office space, 350 market-rate and affordable apartments, art studios, and retail “strategically located in hot spots,” according to a press release.
Canadian REIT buys five grocery-anchored centers

The Toronto-based Slate Retail REIT announced it has entered into an agreement to acquire five grocery-anchored centers in Florida and Pennsylvania for a total of $105 million. “This five-asset portfolio meets all of our acquisition criteria -- attractive returns, markets we like that add scale, pricing well below replacement cost, strong anchors, and in-place rents that are below market,” said Slate CEO Greg Stevenson.
Aldi accelerates store expansion as supermarket wars heat up

A German discount grocer has set its sights on becoming the third-largest American food retailer by store count, behind Walmart and Kroger.
Apparel giant in store closing move amid sales drop

Ascena Retail Group, operators of such brands as Ann Taylor, Lane Bryant and Dressbarn, is planning to close hundreds of stores. The news came on the heels of a brutal third quarter. The company reported a net loss of $1.031 billion, or $5.29 per diluted share in the third quarter ended April 29, compared to net income of $15 million last year, or $0.08 per diluted share, in the year-ago quarter.
Warehouse club operator entering new territory

BJ's Wholesale Club is set to open its first location in South Carolina. The retailer will celebrate the grand opening of its new location in Summerville, South Carolina on Saturday, June 10. The store, which marks BJ's expansion into South Carolina, is located at the intersection of Interstate 26 and North Main Street, Summerville's primary retail corridor.
Digital directory keeps Mall of America traffic moving

Traffic is good at the Mall of America. Arguably Minnesota’s biggest tourist attraction, the 5.5 million-sq.-ft. theme-park-cum-shopping center packs in some 40 million visitors a year. The big challenge for owner Triple Five is how to keep that traffic moving, experiencing, and spending instead of seeking out directions.