REAL ESTATE

Largest Sears Canada Home store to open in Ottawa

BY Staff Writer

Ottawa, Ontario — Sears Canada has opened its largest Sears Home store at Pinecrest Shopping Center. The store will occupy 78,0000 sq. ft. and feature an expanded selection of furniture as well as the largest major appliance and mattress inventory of any Sears location.

"The opening of the Sears Home store at Pinecrest is another in a series of transformational milestones for Sears Canada," said Calvin McDonald, president and CEO, Sears Canada.

Sears Canada operates 196 corporate stores, 278 hometown dealer stores, 29 home services showrooms, over 1,500 catalog and online merchandise pick-up locations, 105 Sears Travel offices and a nationwide home maintenance, repair, and installation network.

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REAL ESTATE

TNP acquires Bloomingdale Hills in Tampa, Fla., suburb

BY Katherine Boccaccio

Irvine, Calif. — TNP Strategic Retail Trust said Friday it has acquired Bloomingdale Hills, a 13-acre retail center in the Tampa, Fla., suburb of Riverview.

TNP is a public non-traded REIT that invests in grocery and drugstore anchored, multi-tenant necessity retail properties and other real estate-related assets.

Bloomingdale Hills comprises about 78,500 sq. ft. of rentable space, as well as a fully improved, undeveloped land parcel.

The center is anchored by Wal-Mart Neighborhood Market and is 100% leased.

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STORE SPACES

Costco international exec says chain looking to open stores in Europe

BY Katherine Boccaccio

Issaquah, Wash. — Costco Wholesale Corp.’s international executive VP James Murphy said Thursday that the warehouse club operator is pursuing a European expansion program.

Murphy told Bloomberg that Costco is “interested in investing in the obvious four — Germany, Italy, France and Spain.” The company hasn’t decided which country would debut first and will probably open a store in the region “in the next couple of years,” Murphy said in the Bloomberg interview.

As real estate rates downwardly shift, Murphy said that Costco seems some opportunity, although weakened demand and austerity measures are concerns.

Turkey is another market that Costco is considering, Murphy said.

Earlier this month, the retailer announced it would buy out its Mexican joint-venture partner for $765 million, and that it would be better positioned to expand the 32-store base in Mexico.

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A.Khan says:
Feb-04-2013 09:03 pm

We need more fair housing
We need more fair housing enforcement simply for the sake of preparing our increasingly diverse children to be competitive in the world of the future that lies ahead of them. tomygirl

A.Khan says:
Feb-04-2013 09:03 pm

We need more fair housing enforcement simply for the sake of preparing our increasingly diverse children to be competitive in the world of the future that lies ahead of them. tomygirl

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