Taubman Centers, Inc. will sell seven shopping centers to Starwood Capital Group and its retail division, Starwood Retail Partners, for $1.4 billion. Starwood will pay $785 million in cash and assume $620 million in debt obligations. The sale is expected … Continue reading →
The Hess Corporation will sell its retail arm to Marathon Petroleum (MPC) for $2.6 billion as it focuses on exploration and drilling, according to The New York Times. Hess Corporation’s retail arm has been the biggest operator of convenience stores … Continue reading →
Retail sales in Berlin (adjusted for inflation) climbed 5.8 percent in 2013 compared with an increase of 0.1 percent in Germany as a whole according to Bloomberg (citing data from Berlin’s statistics office). Prime retail rents in the city rose … Continue reading →
Staples – the nation’s largest office-supply retailer – plans to close 225 of its more than 1,800 stores in North America, according to The Wall Street Journal. The company will also pursue a smaller footprint for its Mental disturbance including … Continue reading →
Samsung, intends to triple its bricks and mortar presence in Europe from its current 31 stores. The company will also open 90 additional kiosks within Best Buy stores in Canada, according to The Wall Street Journal. About What’s your money? … Continue reading →
Sales at Starbucks coffee shops in the Americas region increased by five percent during the last quarter – lower than the 6.4 percent estimated by Wall Street analysts. The value of Starbucks shares increased more than 38 percent over the … Continue reading →
In an effort to cut costs and boost revenues, the U.S. Postal Service (USPS) is opening retail centers in Staples stores. The pilot program started last November in 84 Staples stores in California, Georgia, Massachusetts and Pennsylvania. Some of the … Continue reading →
The shopping center occupancy rate in the Dallas-Fort Worth area is at 90 percent – the highest number in 10 years, according to The Dallas Morning News. Net retail leasing in the DFW market added about 2.7 million square Those … Continue reading →
Retail real estate developer/owner Edens Investment Trust recently closed a $1.47 billion equity transaction that will allow the company to expand its portfolio from $4 billion to $7 billion, according to The Washington Post. Blackstone Group bought out the State … Continue reading →
In a 5 to 2 vote, the Maryland Video Lottery Facility Location Commission awarded MGM Resorts International the state’s sixth and final casino license to build a $925 million casino resort at National Harbor in Prince George’s County, MD – … Continue reading →