Deer Grove in Palatine, Ill., bought for $20 million
Chicago — Transwestern’s Chicago office has brokered the sale of the 236,173-sq.-ft. Deer Grove Shopping Centre in Palatine, Ill., to Ramco Gershenson for $20 million. Transwestern www.transwestern.net represented the seller, C-III Asset Management.
The property is anchored by Dominick’s, a Chicago-based grocer, and national tenants including TJ Maxx/Home Goods, Petco and Staples. A Target and Home Depot shadow anchor the property.
The property was 81% leased at the time of the sale, including the newly executed TJ Maxx/Home Goods lease. The national retail chain is expected to improve traffic at the property and increase future leasing prospects.
H&M, Uncle Buck’s to anchor Destin Commons expansion
Destin, Fla. — H&M and Uncle Buck’s Fish Bowl & Grill will anchor a 100,000-sq.-ft. expansion of Destin Commons slated to open in mid-2014.
Construction is underway on the 20,000-sq.-ft H&M store, the first H&M in northwest Florida.
Uncle Buck’s, a concept by Bass Pro Shops, will offer casual dining and 16 lanes of bowling. Uncle Buck’s has also taken 20,000 sq. ft.
The expansion will include about 20 additional stores and restaurants.
The mixed-use property is set on 56 acres and currently includes more than 70 stores and restaurants. Major national retailers include Bass Pro Shops and Belk. The AMC Destin 14-screen stadium movie theatre, Pirate’s Cove children’s soft play area and a fountain provide the entertainment. The development also offers 70,000 sq. ft. of Class A office space.
Simon, Mac Naughton, Ruiz and other Walmart execs headlining events this fall
Top executives from Walmart will be sharing insights into the company’s strategies this fall by participating in a wide range of conferences and investor event.
First up is Walmart U.S. president and CEO Bill Simon who is scheduled as the featured luncheon speaker on September 11, at the Goldman Sachs Global Retailing Conference in New York. Simon also spoke at the event in 2010 and 2012 and this year he will be fresh off of headlining Walmart’s U.S. manufacturing summit in Orlando in late August.
The following day digital initiatives will be in focus closer to Walmart’s home when John Boswell, SVP of marketing, member insights and e-commerce at Sam’s Club speaks at a meeting of the Bentonville Bella Vista Chamber of Commerce’s Walstreet members.
Details about Walmart’s 2014 store expansion, global e-commerce, small format outlook and expense leverage strategies will be revealed on October 15 when Walmart hosts its 20th annual investor conference.
Later in October, Walmart’s chief merchandising and marketing officer Duncan Mac Naughton is scheduled to participate in the 13th annual Emerging Trends in Retail conference organized by the Center for Retailing Excellence at the University of Arkansas’ Sam M. Walton of College of Business.
Mac Naughton will be part of a panel discussion at the October 30 event to address the topic of long term joint business planning along with Jeff Schomburger, president of Procter & Gamble’s global Walmart team and Dina Howell, worldwide CEO of Saatchi & Saatchi X.
The Emerging Trends conference also will feature a joint business planning discussion by a trio of merchants responsible for diverse categories. Walmart vp of candy and impulse merchandising, Joe Grady and vp of alcoholic beverage merchandising Latriece Watkins and Sam’s Club vp of grocery and snacks Heather Mayor are scheduled to address the topic of “the tasks at hand and what is on the horizon.”
One final noteworthy appearance this year by a senior Walmart executive occurs on November 14 when Gisel Ruiz, chief operating officer of Walmart U.S. speaks at a Bentonville Bella Vista Chamber of Commerce event for Walstreet members. As Walmart’s top operators, her comments should be particularly noteworthy so close to the holiday season and on the same day that Walmart is scheduled to report third quarter financial results.