REAL ESTATE

New GM named for Heritage Mall

BY Katherine Boccaccio

Albany, Ore. — Vintage Real Estate announced said Wednesday it has appointed Betsy Penson as general manager of its recently acquired Heritage Mall, located in Albany, Ore.

Most recently Penson was general manager/marketing director for CenterCal Properties’ Blackhawk Plaza in Danville, Calif. Earlier in her career she was the general manager and marketing director for a 400,000-sq.-ft. lifestyle center, The Streets of Tanasourne in Hillsboro, Ore., and the general manager of the Lancaster Mall in Salem, Ore.

Heritage Mall is a 406,500-sq.-ft. regional center featuring 52 major retailers, boutiques and restaurants including Target, Sears, Ross Dress for Less, Old Navy, Maurice’s, Rue21, Zumiez, Famous Footwear, Game Stop and Bath & Body Works. The mall was remodeled in 2006 and currently is 50% occupied

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REAL ESTATE

C-store total poised to surpass 150,000 units

BY Staff Writer

New York — The latest data from Nielsen shows the number of U.S. convenience stores continues to expand and last year set a new record with 149,220 units.

That figures is up 1,094 units from the prior year so the increase amounts to only a 0.7% gain, according to the 2013 National Association of Convenience Stores/Nielsen Convenience Industry Store Count. Even so, the growth is noteworthy at a time when overall expansion of selling space in the broader retailer industry has remained stagnant even though the recession officially ended in 2009.

The convenience retailing industry continues to be dominated by single-store operators, which now account for nearly 63% of all convenience stores, but the fastest growing segment of the industry is among operators with more than 500 stores. The store count among companies with more than 500 units grew by 8.9% to 21,738 stores, compared with the less than 1% growth that saw units operated by independents increase to 93,819 stores.

Convenience stores now account for 34.8% of all retail outlets in the United States, according to Nielsen, and the total count of slightly more than 149,000 units is double what it was in 1982.

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Apr-20-2013 07:35 pm

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REAL ESTATE

Wegmans to open in Alexandria, Va.

BY Staff Writer

New York — Wegmans has confirmed plans to open a store in Alexandria, Va., in 2014, according to Washington Business Journal.

The store will be located in Hilltop Village, which is being developed by Houston-based Weingarten Realty Investors. The project will feature some 250,000 sq. ft. of retail, anchored by the 143,000-sq.-ft. Wegmans, and 100,000 sq. ft. of office.

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