TENANT UPDATE

Saddle Brook Square reaches 100% occupancy

BY Katherine Boccaccio

With the addition of Jembro Stores and Cricket Wireless, Saddle Brook Square – in Saddle Brook, New Jersey – has reached full occupancy, according to brokerage firm Ripco Real Estate, which has led the leasing efforts.

The 221,892-sq.-ft. shopping center is anchored by Walmart, TJ Maxx, Modell’s, and 24 Hour Fitness. Jembro Stores, a regional discount retailer, will occupy 5,280 sq. ft. adjacent to TJ Maxx. Cricket Wireless occupies 2,100 sq. ft.

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DEVELOPMENT/REDEVELOPMENT

Stirling to build new medical complex, more commercial in south Louisiana

BY Katherine Boccaccio

As part of its ongoing commitment to development in the state, Stirling Properties has acquired nearly 12 acres of land in St. John the Baptist Parish for development of a new medical facility and additional commercial development.

The site is located at the northwest corner of W. Airline Highway and N. Sugar Ridge Road in LaPlace, Louisiana.

Phase I includes a lease to Ochsner Clinic Foundation for a 20,000-sq.-ft. freestanding emergency room and diagnostic center. Completion is slated for the second quarter of 2017.

The adjoining acres of the LaPlace facility are currently available for additional commercial development. The property is zoned commercial and is open to compatible use expansion such as office, hospitality, retail or medical.

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TECHNOLOGY

Westfield, R/GA accelerator program seeks to redefine retail experience

BY Marianne Wilson

A diverse mix of retail tech start-ups have been selected to participate in a program aimed at enhancing retail innovation.

Digital advertising agency R/GA Ventures and Westfield Labs, the digital lab of mall giant Westfield Corp., announced the companies chosen for their Connected Commerce Accelerator. The program, running from August-October, will emphasize opportunities for business development, pilots, and partnerships with the program partners and their networks, and enable participants to develop and launch new business models designed to disrupt the status quo and reimagine the future of retail and commerce.

The participants will receive input and collaboration from program partners, including Macy’s, Verizon and Walmart. They will also have an opportunity to join roundtable sessions with the program partners and third-party experts to share forward-looking research, discuss cutting-edge innovations, and identify market opportunities.

The 10 start-ups chosen for the program include Axle Hire, which provides same-day delivery services for e-commerce and brick-and-mortar retailers that demand reliability and exceptional customer service, and Agent Q which provides the artificial intelligence necessary to automate natural language user interactions through chatbots, product search, and customer service.

Here are the 10 companies participating in the accelerator:

1. Agent Q provides the AI to automate natural language user interactions through chatbots, product search, and customer service.

2. AxleHire provides same-day delivery services for e-commerce and brick-and-mortar retailers that demand reliability and exceptional customer service.

3. Clarifai understands every image and video with the world's best visual recognition technology.

4. Cordial enables retail and publisher brands to deliver highly personalized messages, while tracking digital behavior across connected devices, web, purchase events and signals for IoT.

5. Darkstore is an on-demand logistics platform that converts underutilized brick-and-mortar spaces into local fulfillment centers, allowing e-commerce brands to store inventory, have orders fulfilled, and connect to same-day delivery providers.

6. Happy Returns is a technology, logistics, and service company building a network of Return Bars where online shoppers can return items in-person for an immediate refund, eliminating the hassle and wait of returns by mail.

7. Myagi is an online training platform that makes it easy for retailers and brands to create, manage, deliver and measure customer service, product and sales training for their front line teams.

8. Oak believes the future of retail will be software-driven. Starting with an interactive fitting room mirror that enables customer requests, lighting changes, and checkout, Oak is building the ultimate intelligent store platform.

9. Percolata uses sensor and sales data in physical retail stores to optimize sales teams.

10. Reply.ai is an end-to-end solution to build, manage, optimize, and scale chatbots across all major messaging platforms.

The program will take place at the R/GA San Francisco office, concluding in late October 2016 with an invite-only investor and business development event where each startup will present to investors and industry leaders across the retail, commerce, and technology industries.

"Westfield Labs is thrilled to participate in this program and to collaborate with the next generation of companies seeking to redefine the retail experience

"We are committed to infusing digital into our physical shopping environments to create new consumer experiences and we are excited to support the ten companies selected who share in our vision for the future of retail," said Kevin McKenzie, global chief digital officer, Westfield Corp. “We look forward to working together to identify opportunities to provide some of the participants access to Westfield's scale and visitors by implementing their products and solutions in some of our centers, further accelerating their access to real time customer interactions and feedback."

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