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Company newsMinnesotaNewsOklahoma

Northmarq Agrees to Acquire Commercial Real Estate Brokerage Stan Johnson Co.

by Katie Sloan

Minneapolis and Tulsa, Okla. — Commercial real estate capital markets platform Northmarq has agreed to acquire Stan Johnson Co., a Tulsa-based real estate brokerage and advisory firm, for an undisclosed price. The acquisition will include Stan Johnson’s affiliated debt services company, Four Pillars Capital Markets. Minneapolis-based Northmarq offers commercial real estate investors access to experts in debt, equity, investment sales and loan servicing. The company boasts an annual transaction volume of $33 billion and has 22 investment sales offices across 13 states. Stan Johnson Co. has closed nearly 7,500 transactions exceeding $45 …

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bed-bath-beyond
Company newsNew JerseyNews

Bed Bath & Beyond to Close 150 Stores, Cut Staff, Restructure Debt

by Katie Sloan

Union, N.J. — Bed Bath & Beyond Inc. (NASDAQ: BBBY) announced this morning that it will close approximately 150 of its lower-producing stores across the country. The Union-based home goods retailer also revealed that it is cutting its workforce by about 20 percent across its corporate and supply chain staff. Additionally, the company has secured more than $500 million in new financing, including the expansion of an existing credit line and a new $375 million loan. Bed Bath & Beyond says that these moves are in effort to meet demand of …

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La-Centerra
Company newsIllinoisNewsTennessee

JLL, Poag Shopping Centers Enter Partnership to Acquire, Redevelop Mixed-Use Assets

by Katie Sloan

Chicago and Memphis Tenn. — Chicago-based JLL has entered into a strategic partnership with Memphis, Tennessee-based Poag Shopping Centers to acquire and redevelop mixed-use assets. Poag will provide development and redevelopment services for JLL-managed centers across the U.S., while JLL will provide management and operational services to Poag’s 10 open-air lifestyle centers. Poag will partner with JLL on its existing pipeline of redevelopment work and intends to grow this platform as more malls and open-air centers are revamped for today’s changing retail environment. Poag will also work with JLL to answer …

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Ann-Smith
Company newsIllinoisNews

Ann Smith Joins Cullinan Properties as Senior Vice President, Director of Leasing and Marketing

by Katie Sloan

East Peoria, Ill. — Cullinan Properties has hired Ann Smith as senior vice president and director of leasing and marketing. In her new role, Smith will direct all aspects of the East Peoria, Illinois-based company’s leasing and marketing, including lease negotiations, portfolio merchandising, tenant relationships, marketing efforts and corporate branding strategy. Prior to joining Cullinan, Smith spent 18 years in various leasing and tenant coordination roles at Retail Properties of America (RPAI) and Kite Property Group. “We’re excited for Ann to join Cullinan Properties as she brings unmatched leasing experience and …

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AlabamaCompany newsNewsTexas

Real Estate Investment Firm Centennial Acquires Operating Platform of Bayer Properties

by Katie Sloan

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 …

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Macy's Toys "R" Us
Company newsNew YorkNews

Toys “R” Us to Open In-Store Shops at Macy’s Locations Across the US

by Katie Sloan

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 …

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Sephora
Company newsNewsRetailersWisconsin

Kohl’s Bets on Brick-and-Mortar with Plans to Open 100 Smaller-Format Stores, Revitalize Existing Locations

by Katie Sloan

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, …

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Nerf-Xperience
Company newsNew JerseyNews

Kingsmen Xperience and Hasbro Bringing New Entertainment Concepts to U.S.

by Katie Sloan

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 …

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Company newsNewsWisconsin

Kohl’s to Open 100 Smaller-Format Stores, 850 Sephora Locations Across U.S.

by Julia Sanders

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 …

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Lee & Associates
ArizonaCompany newsNews

Lee & Associates Hires Mark Bramlett as Principal

by Julia Sanders

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 …

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