REAL ESTATE

CBRE names Minneapolis head

BY Staff Writer

Los Angeles — CBRE Group said it has appointed Blake R. Hastings as managing director of its Minneapolis office, effective January 1, 2013.

Hastings succeeds Whit Peyton, who will be stepping down after more than two decades of service.

In his new position, Hastings will be responsible for overseeing all CBRE’s operations in Minnesota.

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FINANCE

Study: Prices not lowest on Black Friday and Cyber Monday

BY Marianne Wilson

Solon, Ohio — Black Friday and Cyber Monday does not always mean lower prices, according to a study by ECRM Analytics that examines Black Friday and Cyber Monday promotions. The analysis exposes many common misconceptions around these two important shopping days.

ECRM found that when comparing Black Friday deals to other times throughout the year, it is apparent that holiday prices are not always the lowest, with leading retailers promoting higher prices than previously advertised on toys and consumer electronics.

In other findings, overall, promotional trade spend for Black Friday was down 15% for 2012 compared with 2011, with many retailers strategically shifting their focus to social and mobile. A substantial growth in mobile applications from both retailers and third parties tries to bring some clarity, but inaccurate data and tedious functionality frustrate the consumer resulting in lost opportunities. With social media, the conversation can easily lose focus and the intended message becomes unclear.

This hyper competitive environment is confusing the consumer and impacting sales negatively, according to ECRM. For a more in-depth look at ECRM’s findings, as well as other category and seasonal reviews, click here.

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REAL ESTATE

Anna’s Linens to open at Lakewood Shopping Center

BY Staff Writer

Miami Beach, Fla. — Terranova Corp. said that Anna’s Linens will open an 8,100-sq.-ft. store at Lakewood Shopping Center, located in Margate, Fla., and marking the retailer’s 21st location in the state.

The new store will open in early 2013, joining a tenant line-up that includes Marshall’s, Ross Dress for Less and Staples.

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