REAL ESTATE

Sam’s Club opens store in Oklahoma

BY Dan Berthiaume

Bentonville, Ark. – Sam’s Club is opening a new store in Edmond, Okla., on Oct. 3. The new Sam’s Club features a shopper-friendly interior layout and measures approximately 136,000 sq. ft., and has created about 130 new jobs.

Daylight-harvesting skylights reduce the amount of energy required to light the store by up to 75% daily. LED lighting throughout the club, including in the cooler and freezer box doors and jewelry counter, operates 70% more efficiently than traditional fluorescent lighting. There will also be a full-service pharmacy and a hearing aid center.

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REAL ESTATE

JC’s 5 Star Outlet going out of business

BY Dan Berthiaume

Columbus, Ohio — JC’s 5 Star Outlet, formerly the outlet store division of J.C. Penney, is winding down operations and closing its 15 stores. "Going out of business" sales will start Wednesday, offering shoppers deeper discounts than the usual outlet prices of 25% to 75% off retail.

The 5 Star Outlet stores, which had been designated for closure by J.C. Penney, were acquired by SB Acquisitions in October 2011, and rebranded JC’s 5 Star Outlet.

Glen Gammons, the former head of the JCPenney Outlet Store Division, and CEO of JC’s 5 Star Outlet, said closing the stores was a painful decision.

"The closing of the Outlets was necessitated by the precipitous decline of sales," Gammons said. "After exploring all the alternatives, we could no longer incur the losses resulting from the continued operation of the Outlet stores."

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Nordstrom Rack to make Philadelphia debut

BY Dan Berthiaume

Seattle — Nordstrom Rack will make its Philadelphia debut, opening an approximately 39,000-sq.-ft. store on Chestnut Street in fall 2014. The property is owned and managed by JEMB Realty Corp.

The new Nordstrom Rack will move into a completely renovated space that was originally home to department store Bonwit Teller and was most recently held by Daffy’s. The store will occupy the first three floors of the historic, eight-story building.

"We’re thrilled to be opening a Nordstrom Rack in this fantastic location on Chestnut Street," said Geevy Thomas, president of Nordstrom Rack. "We intend to bring our very best — exciting fashion from brands our customers love at great prices — to make the most of this opportunity to serve customers at the heart of Center City."

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