Dallas and Birmingham, Ala. — Dallas-based real estate investment firm Centennial has acquired the operating platform of Birmingham-based Bayer Properties. Bayer’s management portfolio includes nearly 8 million square feet of open-air fashion, power and neighborhood retail centers, as well as mixed-use properties. The combined organization will utilize the Centennial name and the company’s headquarters will remain in Dallas. Bayer’s Birmingham headquarters will remain operational and will become a regional office for Centennial. Bayer’s president, Jami Wadkins, will join Centennial as Chief Operating Officer immediately upon acquisition. “Centennial’s current portfolio consists primarily …
New York City — Macy’s has announced a partnership with WHP Global to open Toys “R” Us in-store shops within all of its locations across the U.S. Toys “R” Us stores will range from 1,000 to 10,000 square feet and are set to open from late July through October 15. Each location will feature colorful fixtures, demonstration tables for customers to interact with toys, and a “Geoffrey on a Bench” photo opportunity for families. The in-store shops may also grow by an additional 500 to 3,000 square feet during the …
Menomonee, Wis. — Kohl’s (NYSE: KSS) has announced plans to increase its investment in brick-and-mortar with the addition of 100 new, smaller-format locations over the next four years in previously untapped markets. This expansion follows the pilot of 20 stores featuring the company’s smaller-format design, which averages around 35,000 square feet versus the traditional 80,000-square-foot iteration. In June, the Menomonee-based company will be opening a smaller-format shop in Bonney Lake, Washington, and in the fall, stores are set to open in San Angelo, Texas; Morgantown, West Virginia; Tacoma, Washington; and Lenox, …
Singapore and Paramus, N.J. — Kingsmen Xperience, the U.S. location-based experienced focused subsidiary of Singapore-based Kingsmen Creatives Ltd. and Hasbro Inc. will be opening the first North American location of Nerf Action Experience and the world’s first Planet Playskool kids experience at Westfield Garden State Plaza in Paramus in 2023. Both indoor entertainment centers will feature multiple activity zones, food and beverage areas, and retail stores. The Nerf Action Xperience at Westfield Garden State Plaza will be over 25,000 square feet in size and is designed to bring the Nerf …
Menomonee Falls, Wis. — Kohl’s Corp. has announced plans to open 100 smaller-format stores over the next four years. The company also aims to grow its Sephora business to more than $2 billion in annual sales through the opening of 850 new locations. The Menomonee Falls, Wisconsin-based retailer will launch self-serve, buy online and in-store pick up options at all locations; enhance Kohl’s Card Rewards earnings to 7.5 percent every day; introduce a co-branded credit card in 2023; and grow its online digital sales to $8 billion by enhancing discovery …
Phoenix — Lee & Associates has hired Mark Bramlett as principal in the firm’s Phoenix office. Bramlett has over 25 years of commercial real estate experience, specializing in the transactional representation of national retailers and landlords, as well as commercial land development. “Mark Bramlett combines a superior understanding of the Arizona market combined with his strategic thinking ability, to formulate a total real estate landscape for his retail customer base,” says Fred Darche, managing principal at Lee & Associates. “He is incredibly knowledgeable about future competitive changes, as well as …
El Segundo, Calif. — CenterCal Properties has hired Paul Kurzawa as chief operating officer. In his new role, Kurzawa’s first priority will be to launch the El Segundo, California-based firm’s new third-party services division, which aims to partner with real estate owners and investors to support them in revitalizing their retail centers and enhancing property value. Kurzawa brings over 27 years of both national and international experience in the commercial real estate and entertainment industries. Most recently, Kurzawa served as the executive vice president and director of operations for Unibail …
Mooresville, N.C. and San Diego — Lowe’s and Petco Health and Wellness Co. Inc. have announced plans to open a new in-store concept that will offer both home and pet products within select Lowe’s locations. The first Lowe’s + Petco store-in-store concept is slated to open at the Lowe’s Alamo Ranch store in San Antonio at the beginning of February. The companies plan to expand to 14 additional Lowe’s locations in Texas, North Carolina and South Carolina by the end of March. The purpose of the Lowe’s + Petco locations …
Washington, D.C. — The National Retail Federation (NRF) has reported that retail sales during last year’s November to December holiday season increased 14.1 percent, or $886.7 billion over those in 2020 ($777.3 billion). The 2021 numbers were greater than what the NRF had predicted and set a new record despite ongoing headwinds such as supply chain issues and the spread of the COVID-19 Omicron variant. Retail sales were tracked from Nov. 1 to Dec. 31 and exclude data from automobile dealers, gas stations and restaurants. Retail sales fell by 2.7 …
Miami, Fla. — Pacific Star Capital has appointed Wright Sigmund as principal. In his new role, Sigmund will lead the Miami-based company’s operations and the overall growth of the firm as it focuses on expanding its portfolio of essential-tenant focused developments. Sigmund previously worked with First Washington Realty Inc. as senior vice president and national director of leasing.