News Briefs

A quick-serve sandwich giant is celebrating the release of "Happy Gilmore 2" with a new pop-up experience.

Subway has transformed its store at 1801 W. Pico Blvd. in Santa Monica, Calif., into a "Happy Place" – the main character’s surreal and serene dream world. Created in close partnership with Netflix, Subway's Happy Place will let fans of the golf comedy relive iconic scenes from the new movie, play mini-golf on a course inspired by the film's most memorable shots, enjoy cast appearances and more on Aug. 8 from 12 to 7 p.m.

The exterior of the store has been revamped with greenery to mimic the golf course atmosphere. In addition to the immersive experience, guests can also relax with beer on tap in Subway's country-club-style beer garden.

Earlier this month, Subway and Netflix teamed up for a limited-time promotional “Happy Gilmore Meal” combo including a sandwich, chips, and a drink with one of four limited-edition cups featuring different characters from the movie franchise. Subway says it sold 1.6 million of the meals at restaurants across the United States and Canada.

Admission for the one day “Happy Place” activation is free, but guests are encouraged to make a reservation and secure their spot in line at SubwayHappyPlace.com/events.

[READ MORE: Subway taps former Burger King exec as CEO]

Subway operates nearly 37,000 restaurants around the world, owned and operated by a network of thousands of Subway franchisees.

[READ MORE: Maka Mia Pizza opens robotic pizza kiosks]

The longtime leader of NACS (National Association of Convenience Stores) is stepping down.

NACS has named Frank Gleeson, former president and CEO of Aramark Northern Europe and 2018-2019 NACS chairman, as president and CEO, effective Jan. 2. He succeeds Henry Armour, who has served in the position since July 2005. Armour will provide support to Gleeson and continue to lead international activities at NACS for several years.

Most recently, Gleeson served as chairman of the National Oil Reserve Agency in Ireland. Prior to that, from 2014 to 2017, he was president and CEO of Aramark Northern Europe, where he oversaw a team of over 20,000 employees across 2,800-plus locations in the United Kingdom, Ireland and EMEA (Europe, the Middle East and Africa).

 Prior to Aramark, Gleeson was retail director at Topaz Energy Group, the largest importer, distributor and retailer of transportation fuel in Ireland with over 330 convenience stores and service stations, 60 distribution depots and four import terminals.

He also served as VP of retail at Statoil Ireland (now Equinor), where he led the development of the first American-style convenience store in Ireland. Most recently, he served as chairman of the National Oil Reserve Agency in Ireland.

Gleeson also has been extremely active in NACS and other trade associations. He previously served on the NACS International Board for 19 years and was on the NACS board for 11 years, including his term as 2018-19 NACS chairman.

Two retailers capture more than half of consumer electronics spending.

Best Buy and Amazon accounted for 30% and 28% of overall sales in select consumer electronics categories in the past year, respectively, according to the Numerator Consumer Electronics Tracker, which provides quarterly insight into omnichannel consumer buying behavior in select electronics categories.

Gen X and millennial shoppers are the most likely to purchase electronics throughout the year. But across all consumers, November and December are the most popular months for electronics purchases, followed by July.

[READ MORE: Numerator: Most consumers say tariffs affect spending]

Other findings from the latest Numerator update are below:

• Computer monitors & peripherals were the tracked category with the highest increase in household penetration (38.4%) for the past update, while televisions and streaming devices saw the biggest decline in buy rate (down 11%).
• More than half (58%) of consumer electronics buyers said the price of their item was about what they anticipated ahead of purchasing, while 19% said it cost less than they anticipated.
• Consumers first became aware of the electronics item they purchased by seeing it on a retailer website (27%), getting a recommendation from friends or family (24%), or seeing it in person at a store (21%).

DLC has added a new Sunbelt property to its management portfolio.

The owner-operator and third-party manager of open-air shopping centers has been awarded third-party management of Bell Tower Shops, a premier open-air lifestyle center located in Fort Myers, Fla. DLC will lead the property’s leasing and day-to-day operations as part of its growing third-party management portfolio.

The 365,000-sq.-ft. center features national tenants like Nordstrom Rack, The Fresh Market, Regal Theaters and Dave & Buster’s, and a thriving food scene with restaurants including Capital Grille, Tap 42, Blue Point Oyster Bar and Seafood and McGregor’s Public House. A Double Tree by Hilton hotel is also located on the property.

“Institutional partners continue to trust DLC to drive value through strategic leasing, thoughtful operations, and a tenant-focused approach,” said Adam Ifshin, founder and CEO of DLC. “We are excited to bring our vertically integrated platform to Bell Tower Shops and enhance what is already a vibrant, high-traffic destination in Fort Myers.”

Elmsford, N.Y.-based DLC says the addition of Bell Tower Shops reflects the company’s reputation for transforming retail centers through “hands-on leasing, merchandising and marketing strategies.”

[READ MORE: Renovo and NWS Architects: DLC’s open-fast solution for store buildouts]

“We know how to energize retail,” said Chris Ressa, chief operating officer of DLC. “We are excited to take our expertise and platform to another project in Fort Myers. We see potential to grow this center’s reach and add compelling new brands that will benefit the community.”

Copper Property CTL, a pass-through trust established to acquire 160 JCPenney stores and six distribution centers as part of the brand’s 2020 Chapter 11 filing, has found a buyer for 119 of them.

Copper Property has made a purchase and sale agreement with an unnamed affiliate of Onyx Partners, a Needham, Mass., investment collaboration firm, to purchase all 119 properties for $947 million in cash.

The transaction is the culmination of an extensive marketing process executed by the global real estate services firm Newmark. The properties are subject to a long-term, triple-net master lease with Penney Intermediate Holdings LLC.

"This transaction is the culmination of an extensive marketing process run by Newmark," Copper Property said in a statement. "The properties are subject to a long-term triple-net master lease with Penney Intermediate Holdings LLC or affiliates thereof. The buyer has now completed its due diligence, and its deposit under the agreement is non-refundable."

The average store size of the store portfolio is 132,000 sq. ft. on an average tract of 8.36 acres, according to Newmark.

The trust was formed for the sole purpose of owning, leasing and selling the JCPenney properties as promptly as possible. It is externally managed by an affiliate of Hilco Real Estate LLC.