Pineville Commercial Realty buys North Carolina shopping center
Northbrook, Ill. – Pine Tree Commercial Realty LLC has acquired Riverbend Marketplace, a regional shopping center located in Asheville, North Carolina, in partnership with Wanxiang America Real Estate Group. The 142,617-sq.-ft. shopping center is shadow-anchored by Walmart, anchored by Kohl’s and Petsmart, and features 110,715-sq.-ft. of national best-in-class retailers.
“We are very excited to have acquired Riverbend Marketplace especially given Asheville’s strong, vibrant and growing community,” said Todd Zinsmaster, executive VP, acquisitions & development at Pine Tree Commercial Realty. “Entering the North Carolina market has been a goal of Pine Tree’s, and we look forward to committing our resources and expertise to immediately increase the value of this asset in addition to expanding future holdings throughout the Southeastern United States.”
Rice University acquires retail property
Fort Worth, Texas – Rice Management Company and Trademark Property Company have acquired a three-building, 193,000-sq.-ft. retail property portfolio in Rice Village, today collectively named the Village Arcade. Trademark and Rice plan to completely revitalize the properties by significantly upgrading the merchandising mix, facades and site amenities and considering a rebranding.
“Trademark has been engaged to manage, lease and renovate these properties which haven’t changed since they were originally built in the late 80s and early 90s,” said Trademark CEO Terry Montesi. “We plan to transform the shopping experience over time with a new but still authentic design, look and feel and a fresh mix of new to market tenants. Our plans to upgrade the buildings and streetscape will mesh very well with the community while maintaining the unique character of this historic district.”
Trademark was selected by Rice Management Company, which has responsibility for the Rice University endowment, to oversee asset and property management, leasing and repositioning of the Village Arcade properties. Located west of the University, the three buildings feature 50 stores and restaurants, including Ann Taylor, Athleta, Banana Republic, Chico’s, Gap, Kendra Scott, Loft, MAC, Sephora, Soma, Starbucks, Victoria’s Secret and White House | Black Market.
Gordmans implements Oracle Retail enterprise solutions
Omaha, Neb. – Following a decision to expand into under-served markets across the central U.S., discount department store chain Gordmans Stores has upgraded its legacy IT systems to an Oracle Retail enterprise platform. Working with Oracle Gold partner OLR, Gordmans implemented Oracle Retail solutions including Oracle Retail Merchandising System, Oracle Retail Sales Audit, Oracle Retail Price Management and Oracle Retail Trade Management.
Gordmans uses the Oracle Retail solutions to help manage their inventory, pricing, retail financials, warehouse receiving and sales auditing processes. Technology tools included the application were the Oracle Retail Integration Bus and UC4 Application Manager, which was used in conjunction with a JBoss middleware platform. Since the project “go-live,” Gordmans has experienced tremendous growth and the store base has expanded by almost 40% in three years.
"OLR provided very talented and engaged consultants," said Richard Heyman, CIO at Gordmans. "Many companies profess that they develop partnerships with their clients; OLR actually delivered on that promise.