REAL ESTATE

Hanley sells grocery, drug-anchored center

BY CSA STAFF

Mobile, Ala. Irvine, Calif.-based Hanley Investment Group Real Estate Advisors said Wednesday that it represented the buyer and seller in the sale of a Winn-Dixie- and CVS/pharmacy-anchored shopping center in Mobile, Ala.

No sale price was disclosed.

Hillcrest Marketplace is a 76,364-sq.-ft. neighborhood shopping center; tenants in the sale included: Winn-Dixie, CVS/pharmacy, Firehouse Subs, Hallmark, Hershey’s Ice Cream, Little Caesars and VIP Nail & Tanning Salon.

The buyer was a private investor from Atlanta. The seller was Lamar Cos. from Littleton, Colo. 

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Costco squeezes out a deal with Jamba Juice

BY CSA STAFF

EMERYVILLE, Calif. Costco Wholesale, through a deal with Jamba Juice Company, has agreed to an exclusive promotion of Jamba Juice gift cards.

According to Jamba, the two-card Jamba Juice gift pack, redeemable at participating Jamba Juice locations, will be available for purchase exclusively at approximately 120 Costco warehouses on the West Coast during the holiday season and will retail for $39.99, a savings of $10.00 off of the regular retail price.

 

“We are very excited to partner with Costco to bring enhanced value to our customers,” said Susan Shields, VP consumer products and licensing for Jamba Juice Company. “This gift card promotion will increase the awareness of the Jamba brand in the retail environment and will be synergistic with some of our new retail products launching in the fourth quarter of this year, including frozen novelties and a kid’s style blender.”

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Dollar Tree takes advantage of frugal trend

BY CSA STAFF

SAN FRANCISCO Dollar Tree continues to benefit from a more conservative spending environment, the retailer noted at its annual capital markets conference.

According to Reuters, CEO Bob Sasser commented on the changing consumer and how people are more frugal and will continue to be so even after the economy picks up again.

 

While other retailers are cutting back on store growth, Dollar Tree is expanding. The company will operate about 3,800 stores by the end of the year. Reuters reported that COO Gary Philbin said that other retailers’ decision to cut back is proving to be an advantage for his company. The company reportedly is planning on expanding its Deal$ store chain, which it acquired in 2006.

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