Sandy Sigal, president and CEO of NewMark Merrill, may have built his company in the physical world of real estate, but he’s keenly aware the lines between online and brick and mortar are blurring. In fact, he asserts that the line is often non-existent for the consumer nowadays. That’s because technology has armed shoppers with the ability to shop how, when and where they choose. Retail companies planning to be around for the long haul are doing the same by investing in their non-core counterpart to ensure the physical and …
Jeffrey S. Edison, Chairman and CEO of Phillips Edison & Company (PECO), knows sustainability will play a large role in the operation, development, design and longevity of today’s shopping centers. With that in mind, PECO has developed a number of programs and initiatives that target the three R’s: recycle, reduce, reuse. What are PECO’s sustainability goals? Edison: Our company is committed to becoming an industry leader in energy efficiency, alternative power sources, sustainable design, recycling and other initiatives that will help Phillips Edison preserve and protect the environment. We want …
The great paradox of the real estate business is that, on one hand, it’s the single largest asset class on the planet with a global estimate of $228 trillion, and it generates tremendous amounts of operating, financial and market-level data. On the other hand, real estate is an industry where too much of the decision-making process is done by gut, too much of the reporting process is done by spreadsheet and too few of the recurring processes leverage automation. The result is an industry that too often defaults to throwing …
Chesapeake, Va. — Variety store chain Family Dollar could close up to 390 stores in fiscal 2019 unless it obtains material rent concessions from landlords on underperforming stores.
Plano, Texas — JCPenney has announced it will close 18 full-line stores, including the three that were announced in January, and nine furniture and home stores this year across the country.
San Francisco — Gap Inc. (NYSE: GPS) will close approximately 230 Gap specialty stores within the next two years, the San Francisco-based apparel chain announced in its fourth quarter and 2018 fiscal year reports, released Thursday.
Duluth, Ga. — Moonbeam Capital Investments LLC has promoted Shawl Pryor Sr. from senior vice president to chief operating officer.
Topeka, Kan. — Payless ShoeSource will close all 2,100 of its stores in the United States and Puerto Rico as it moves toward liquidation.
Atlanta — Candytopia has opened its doors at Lenox Square in Atlanta’s Buckhead district.
San Diego — Charlotte Russe Holdings Corp. has filed for Chapter 11 bankruptcy in Delaware.