Issaquah, Wash. — Costco Wholesale Corp. (NASDAQ: COST) has reported a 12.5 percent increase in quarterly net sales in its fiscal fourth quarter, which ended Aug. 30. Costco’s sales jumped to $52.9 billion from $46.4 billion last year. Costco also experienced a 91 percent jump in quarterly e-commerce sales, resulting in a 50 percent increase over the previous year. The company’s net income for the fourth quarter was $1.4 billion, compared with $1.1 billion last year, even though this year’s fourth quarter was negatively impacted by $281 million in costs …
Tysons, Va. — Wegmans is slated to open an 80,000-square-foot store in Tysons on Nov. 4. Wegmans Tysons will feature a café with indoor/outdoor seating and The Burger Bar. The store will be located along the McLean Silver Line Metro stop at 1835 Capital One Drive S., 12 miles west of downtown Washington, D.C. Rochester, N.Y.-based Wegmans is hoping to hire 150 employees before the grand opening. The location is situated within Capital One Center, the public-facing portion of the bank’s global headquarters. Other tenants at the property include The …
Camden, S.C. — Marcus & Millichap has negotiated the $3.5 million sale of Aspen Dental Strip Center, an 8,400-square-foot retail property in Camden. The strip retail center was leased to Aspen Dental, Jersey Mike’s, T-Mobile and a nail salon at the time of sale. Zach Taylor and Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, BM Camden Associates LLC, in the transaction. W Properties LLC acquired the property. The sale represents the final piece of the River Oaks Shopping Center dispositions, which also included the …
It’s been an atypical summer for retailers and shopping center owners in the Sunshine State. There are no Hollywood blockbusters debuting in Florida’s movie theaters, bars remain closed for the time being and shops and restaurants aren’t packed with domestic and international tourists visiting Disney World, Port of Miami’s cruise terminals or any of the states numerous beaches at the level they would in a normal season. The outbreak of COVID-19 has redefined the consumer experience for retail the past several months, but even though it looks and feels different, …
Maricopa, Ariz. — Thompson Thrift Retail Group, a wholly owned company of Indianapolis-based Thompson Thrift, has inked a deal for Sprouts Farmers Market to anchor Sonoran Creek Marketplace, the company’s $30 million retail center under development in Maricopa. The Phoenix-based specialty grocery chain is expected to open its 23,293-square-foot location in September 2021. Situated on 14 acres at the intersection of John Wayne Parkway and Edison Road, Sonoran Creek Marketplace will feature 75,000 square feet of retail and restaurant space. Additional recently signed tenants include The Joint Chiropractic, State Farm …
Alsip, Ill. — Marcus & Millichap has brokered the $5.1 million sale of a 4,000-square-foot property occupied by 7-Eleven in Alsip, a southern suburb of Chicago. The build-to-suit property is located on 127th Street. The tenant has a 15-year lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a local developer. The duo also secured and represented the buyer, an out-of-state investor completing a 1031 exchange.
St. Paul, Minn. — Lund Food Holdings Inc. has entered into a long-term lease agreement with developer Ryan Cos. to open a full-service Lunds & Byerlys grocery store within the Highland Bridge project in St. Paul. The 51,000-square-foot store is expected to open in 2022. It will offer an extensive selection of prepared foods, specialty products and two levels of covered parking. The store will anchor a building with 230 apartment units. The existing Lunds & Byerlys store at 2128 Ford Parkway will remain open until the grand opening of …
Washington, D.C. — The U.S. Commerce Department reported in its advanced estimate Wednesday morning that retail spending rose 0.6 percent on a month-over-month basis in August. Total sales for the month were $537.5 billion, up from $534.6 billion in July. This marks the fourth straight month retail sales rose since April, when sales plummeted 16.4 percent due to the coronavirus pandemic shutting down the U.S. economy in mid-March. The National Retail Federation (NRF) said it expected August numbers to slow due to federal assistance waning at the end of July, …
Raritan, N.J. — Burlington has opened a new store at Somerville Circle Shopping Center, a 150,000-square-foot property located at the intersection of Routes 202/206 and Route 28 in Raritan, about 45 miles southeast of New York City. Burlington has backfilled a space formerly occupied by Toys ‘R’ Us/Babies ‘R’ Us. Other tenants at the center include Staples, Petco, Jersey Mike’s, Burger King and Five Below. Levin Management Corp. manages the property. The square footage of the store was not disclosed.
Salem, N.H. — Home furnishings store Arhaus will occupy 15,000 square feet at Tuscan Village in Salem beginning spring 2021. Arhaus was founded in 1986 and operates 70 locations nationwide. The Ohio-based retailer specializes in hand-crafted furniture. Tuscan Village is a 170-acre, mixed-use development situated 30 miles north of downtown Boston. The property will span 2.8 million square feet and feature 800,000 square feet of retail space. Other announced tenants at Tuscan Village opening next spring include Williams Sonoma, Pottery Barn, Chipotle Mexican Grill and Chase Bank. Tuscan Brands founder …