REAL ESTATE

Southlake Town Square launches Teen Advisory Board

BY CSA STAFF

Southlake, Texas Southlake Town Square, an 800,000-sq.-ft. lifestyle center located in Southlake, Texas, has established a Teen Advisory Board and kicked off a social media campaign in support of the new volunteer organization.

Southlake Town Square is owned by Inland Western Retail Real Estate Trust.

According to Inland Western, the mission of TAB is to establish and grow a dedicated group of high school trendsetters, committed to enriching the Southlake Town Square experience for their peers and the community. TAB members will interface directly with The Square’s marketing director and retailers.

“The Teen Advisory Board is a natural fit for Southlake Town Square, and we see it as an excellent way to engage teens in the area and create dialogue with our retailers,” said Karla Chase, marketing director for Southlake Town Square.

Southlake Town Square utilized its Facebook page to recruit teens for the new TAB and will continue to use it to communicate news and information about the board and upcoming events. The TAB is also engaging teens in contests and giveaways via the social networking site. When Southlake Town Square launched its Facebook page earlier this year, it attracted over 5,000 fans in 60 days.

Inland Western has embraced social media marketing on both the corporate and individual shopping center levels. Last year, the company introduced Holly Green, their shopping, living and giving green guru (hollygreenguru.com). The character, who shares ideas on how to save money and live an eco-friendly lifestyle, has her own blog, Twitter and Facebook pages, is featured in advertising, and makes “in person” appearances at shopping centers nationwide. She also gives away coupons, promotional items and even laptops.

Inland Western has partnered with the Dealey Group, a Dallas-based digital advertising, marketing and design agency, to work with Southlake Town Square on their teen advisory board.  More information about the Southlake Town Square TAB is available on The Square’s Facebook page, facebook.com/SouthlakeTownSquare.

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REAL ESTATE

Hhgregg enters Virginia

BY CSA STAFF

Indianapolis Hhgregg is slated to open two stores in the Richmond, Va., area on Thursday. The two stores are the first to open in Virginia.

About 100 local residents have been hired to staff the two Richmond stores, and additional temporary employees have been hired for the holiday season. The 43,000-sq.-ft. Chesterfield, Va., store includes a regional training center that will be used to train future managers and associates throughout the mid-Atlantic region. Hhgregg employees all undergo a comprehensive training program and receive more than 200 hours of training each year.

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Report: Target eyes smaller-format stores; expansion constrained by real estate availability

BY CSA STAFF

Minneapolis Target Corp. is looking at the option of opening smaller-format stores as a way to expand in cities and urban areas, according to a Bloomberg report.

Target plans to open more U.S. stores in metropolitan areas, as well as remodel existing locations, to add groceries and encourage more frequent visits. Tests at Target’s Atlantic Terminal store in Brooklyn, N.Y., and two or three other urban sites may help the retailer prepare for smaller formats, the report said. At those locations, Target trimmed the number of items available by as much as 25% by cutting certain sizes and colors of products to ensure the stores are well-stocked.

Target plans to open about 10 new stores next year, including its first in Manhattan, Bloomberg reported. In 2011, the discounter anticipates more openings, with the exact number depending on whether it can find the right locations and returns, the report said.

“The constraint in 2011 and 2012 is the availability of suitable sites,” Chairman and CEO Gregg Steinhafel told Bloomberg.

Ideally, the company would develop more than 100 stores annually as it had in recent years, Steinhafel said. “We have the capital to be able to do that and we have the appetite to do that, but the availability’s not there.”

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