Petco opens at Five Points
Corpus Christi, Texas — Brixmor Property Group announced Wednesday that a 12,420-sq.-ft. Petco recently opened at Five Points, located in Corpus Christi, Texas.
Brixmor, based in New York City, is the owner of Five Points.
Jones Lang LaSalle closes sale of Miracle Marketplace
Miami — Jones Lang LaSalle’s Capital Markets experts announced Tuesday the firm has closed the sale of Miracle Marketplace in Miami on behalf of AWE Talisman.
Heitman purchased the power center, which is located in the Coral Way submarket. The 243,047-sq.-ft., seven-story Class A vertical retail property is located along the Miracle Mile/Coral Way and is anchored by Nordstrom Rack, Ben Bath & Beyond, Marshalls, LA Fitness, PetSmart, DSW Shoe Warehouse and Ulta.
Consumer confidence hits new low
Consumer confidence in January fell to its lowest point since November 2011, according to the Conference Board.
The Conference Board’s index decreased to 58.6, down from a revised 66.7 in December. The figure was lower than forecast; Bloomberg predicted a median of 64.
The drop in confidence coincides with the 2% payroll tax increase used to fund Social Security.
“The thing that’s particularly troubling is the sizable decline in expectations,” Guy Lebas, chief fixed-income strategist at Janney Montgomery Scott LLC told Bloomberg. “As those expectations deteriorate, it doesn’t bode particularly well for day-to-day consumer spending.”
The 8.1-point slump from December to January is the biggest since August 2011, and parallels other measures of consumer confidence. The Bloomberg Consumer Comfort Index dropped in the week ended Jan. 20 to the lowest level since early October and the Thomson Reuters/University of Michigan preliminary index of consumer sentiment dropped in January to its lowest point since December 2011.