REAL ESTATE

REI to open in South Carolina

BY CSA STAFF

Seattle — REI (Recreational Equipment, Inc.), announced plans to open a new store in Greenville, S.C., this fall. It will be the company’s first location in Asheville, N.C.

The one-story, approximately 22,000-sq.-ft. store will include a bike shop for quick assemblies and repairs, and a seasonal gear rental department for customers looking to test new activities. It will also feature a community space for REI and its local partners to hold outdoor-related classes, presentations and events.

REI operates 114 retail stores nationwide and two online stores, and will open eight new stores by the end of the year.

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FINANCE

Rite Aid’s April sales up

BY CSA STAFF

Camp Hill, Pa. — Rite Aid’s April sales rose thanks in part to bustling business at its pharmacies.

Rite Aid’s same-store sales rose 0.5% over the four weeks ended April 23, with pharmacy revenue up 1%. Sales of nonpharmacy fell 0.4%. Prescriptions filled at those stores rose 0.7%.

Total April sales fell 0.4% to $1.95 billion from $1.96 billion. The company had 4,705 stores as of April 23, 68 less than a year ago.

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REAL ESTATE

Simon assumes leasing, management and marketing of Fox Run Mall

BY CSA STAFF

Indianapolis — Simon Property Group announced that it will assume leasing, management, and marketing duties of the Fox Run Mall in Newington, N.H. Simon will commence this new role at Fox Run on May 15.

"We are pleased to take on the property management functions of this popular seacoast asset at the request of the institutional owner," said Rick Sokolov, Simon’s president and COO. "Fox Run Mall is the only enclosed regional shopping center within a 40-mile radius of Portsmouth, and we look forward to implementing programs to enhance the shopping experience for guests from throughout the region."

Fox Run Mall is a single level shopping center with more than 80 stores including anchors, Macy’s, J.C. Penney and Sears, and others such as Abercrombie & Fitch, Hollister, Express, Loft, Limited, Men’s Wearhouse, American Eagle Outfitters and Victoria’s Secret. The center totals 604,000 sq. ft. and is situated on nearly 70 acres.

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