REAL ESTATE

DDR closes on $1.46 billion transaction with Blackstone

BY Michael Fickes

Beachwood, Ohio — DDR Corp. has closed a previously announced acquisition of a portfolio of 30 power centers from a joint venture with Blackstone Real Estate Partners VII L.P. and settled its forward equity sale. DDR acquired Blackstone’s 95% share.

The company funded the investment through a combination of proceeds from the issuance of new common equity and unsecured debt, preferred equity and mezzanine loan repayments and the assumption of existing mortgage debt.

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REAL ESTATE

Sembler leases 58,000 sq. ft. in Florida in August

BY Michael Fickes

St. Petersburg, Fla. — The Sembler Company leased 58,000 sq. ft. in Florida during August. Here are the individual lease signings:

  • Avant Garde Salon leased 2,045 sq. ft. at Legacy Place in Palm Beach Gardens
  • A-1 Lovely Nail renewed a 1,400-sq.-ft. lease at Crosscreek Village in St. Cloud
  • Divine Day Spa renewed a lease for 2,000 sq. ft. at Oakleaf Town Center in Jacksonville
  • John Paul Hair Salon renewed its 1,400-sq.-ft. lease at the Shoppes of West Melbourne in Melbourne
  • Styles For Less renewed a 2,710-sq.-ft. lease in Boynton Town Center in Boynton Beach
  • Spirit Halloween leased 2,5000 sq. ft. at University Plaza in Tampa
  • Gray’s College Bookstore renewed a 5,000-sq.-ft. lease at University Plaza in Tampa
  • Family Christian renewed its 3,873-sq.-ft. space at Boynton Town Center in Boynton Beach
  • Halloween City has taken 8,320 sq. ft. at Village Marketplace in Port Charlotte
  • Village Pharmacy renewed its lease for 4,100 sq. ft. in Nokomis Village in Nokomis
  • My Life Pizzeria leased 1,955 sq. ft. in Oakleaf Town Center in Jacksonville

All told, Sembler’s August leasing activity in Florida comes to 37,820 sq. ft. in newly leased space and 20,483 sq. ft. of renewed space for a grand total of 58,303 sq. ft.

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News

Cisco finds that retailers miss more than half of return from ‘Internet of Everything’

BY CSA STAFF

Retailers will gain $81 billion from the “Internet of Everything,” which is the term given to the connectivity of an increasing number of people, processes and things, in 2013. But according to new research from Cisco Systems, Inc., this only reflects 45% of the potential return.

Cisco data indicates the "Internet of Everything" could have returned another $99 billion to retailers this year by connecting more across their operations. However, retail IT executives are confident that they can capture this value. On average, retail IT executives rated their ability to capture Internet of Everything at 7.2, on a scale of 1 to 10.

Cisco identifies five key ways retailers are connecting people, process and things to capture more business value:

Tap into dark data assets in-store: By connecting previously unused (or “dark”) data assets from sources such as video surveillance cameras, social media, the internet, and customer’s mobile signals to traditional retail data sets (such as transaction histories), retailers can begin to predict new trends and empower employees to improve profitability.

Connect and build customer trust: When shopping, most consumers are willing to share personal information in exchange for better more personal service. Almost half (49%) of consumers are comfortable with retailers collecting personal information when shopping online in exchange for more personalized recommendations and customer service.

Gain more visibility into inventory: This includes tracking materials and finished goods from the source, to the factory, to the delivery truck and ultimately to the store or warehouse using data-capture technologies such as RFID and sensors. In this model, retailers can anticipate exceptions to business rules and respond before anyone else.

Drive higher levels of stock availability: In-stock performance is one of the four most critical indicators to overall store performance. With automated intelligent stock management and shelf sensing, stores can keep track of on-hand availability and order stock when inventory falls below a certain level, all without employee intervention.

Maximize staff productivity: Employees can access and share best practices, operational alerts and develop smart training and development tools from their mobile device, while giving managers new insights into efficient ways to allocate sales personnel to drive profits. In addition, employees can provide real-time feedback on product and promotion performance. Also, experts can be connected across multiple stores via video conferencing digital displays to maximize productivity.

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