REAL ESTATE

Hammond Aire Plaza in Baton Rouge, Louisiana sold
Baton Rouge -- JLL’s Capital Markets experts announced the firm has closed the sale of Hammond Aire Plaza located in Baton Rouge, Louisiana, on behalf of Kimco Realty. The asset was purchased by a joint venture partnership between DRA Advisors and Viking Partners.

Managing director Margaret Caldwell, VP Diane Roberts and associate Eric Spencer led the JLL team on the transaction.
Catalog/online retailer seeks to grow brick-and-mortar presence
Sundance is gearing up for major retail expansion.

The lifestyle apparel, art and home furnishings brand, founded by Robert Redford in 1969, has long operated a successful catalog and e-commerce site, along with a handful of physical stores. But in remarks at the recent ICR investor conference, CEO Matey Erdos said the company is planning to open up to 150 locations in the coming years.

Inland acquires grocery-anchored Marketplace at Tech Center

Newport News, Va. -- Inland Real Estate Income Trust announced the acquisition of the approximately 210,000-sq. ft. Marketplace at Tech Center, a newly constructed grocery-anchored power center, in Newport News, Virginia. Mark Cosenza, VP of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Income Trust.
Sporting goods retailer continues to expand

Sportsman’s Warehouse is expanding its operations.

The company will open three new stores, with locations in Prescott, Arizona; Rock Springs, Wyoming; and Gillette, Wyoming. The stores, which will feature the retailer’s small format model, will open in the summer of 2016.

The Prescott store will be Sportsman’s Warehouse’s sixth store in Arizona, while the two Wyoming stores will bring the number of the chain’s locations in the state to four.
Wheeler appoints new COO and CFO

Virginia Beach, Va. -- Wheeler Real Estate Investment Trust announced Wilkes Graham will join the company as its CFO, effective Jan. 19. Graham will oversee corporate finance, accounting, investor relations and capital and financing strategies for the Company and will report to CEO and chairman, Jon Wheeler. He will succeed Steven Belote, who will remain with the Company as its COO.
Food, food and more food

From food trucks to high-end restaurants and everything in between, dining has never been more essential to the shopping center experience.

“E-commerce has made it more important for retail centers to enhance the experience,” said Terry Montesi, CEO, Trademark Property Co. And food works great with retail.”
ICSC: Omnichannel wins, with physical stores at epicenter

A just-released holiday survey reinforces the dominance of the omnichannel shopper.

Nearly one-third (32%) of shoppers the past holiday season used the click and collect method – with 69% of these shoppers purchasing additional items in the store when they went to pick up the item and 36% making another purchase in an adjacent store, according to the International Council of Shopping Centers’ Holiday Consumer Purchasing Trends study.
Dollar Tree to expand Pennsylvania footprint

Plymouth Meeting, Pa. -- Metro Commercial Real Estate announced it has negotiated 13 new store openings for Dollar Tree in Pennsylvania.

Dollar Tree a value-driven variety store operating at a one-dollar price point, with stores where Middle America lives and shops and incorporates the philosophy of bright stores, big signs, and a clean environment.
Donahue Schriber acquires its fifth property in 12 months

Alamo, Calif. -- Donahue Schriber Realty Group announced that it acquired Alamo Plaza located in Alamo, California from Investco Advisors late 2015.

The 195,147 sq. ft. shopping center is anchored by Safeway and features Rite-Aid, 24 Hour Fitness, Richards Arts and Crafts, Peet’s Coffee & Tea, Panera Bread, and more.
Irvine Company announces a major $150 million reinvestment

Irvine, Calif. -- Irvine Company announced a major $150 million reinvestment in Irvine Spectrum Center located in Irvine, California, in the heart of Irvine Spectrum, a mixed-use community that provides a balanced district of retail, office, and living space.