REAL ESTATE

Two new retailers sign into Glen Town Center in Glenview, Ill.

BY Michael Fickes

Chicago — Forever Yogurt and T’s Code, a women’s clothing boutique, have leased shops in Glen Town Center in Glenview, Ill. Forever Yogurt has taken 1,134 sq. ft., and T’s Code will occupy 1,789 sq. ft. CBRE represented the landlord, Bank of America Commercial Mortgage, in both leases.

The 469,000-sq.-ft. Glen town Center recently added several new tenants including Pinot’s Palette, Mooyah (burgers), The Curragh Irish Pub, Mingle Juice Shop, and two women’s boutiques in Stella 315 and Ella Louvi. Anchor tenants include Von Mauer, Dick’s Sporting Goods, Ulta and a Regal Cinema.

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FINANCE

Report: J. Jill mulls sale

BY Dan Berthiaume

Quincy, Mass. – J. Jill is reportedly in the process of hiring bankers to assist in a possible sale of the company. According to the Wall Street Journal, sources indicate that co-owners Golden Gate Capital and Arcapita Bank could receive as much as $500 million in a sale of the specialty chain.

The $500 million figure is based on J. Jill’s reported $60 million in earnings before interest, taxes, depreciation and amortization (EBITDA). Retailers are typically valued at eight times EBITDA for a sale. Golden Gate also recently agreed to sell Eddie Bauer to Jos. A. Bank and is a major shareholder in Zale Corp., which Signet Jewelers has agreed to purchase for $1 billion.

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OPERATIONS

Report: Amazon seeks deals with major retailers

BY Dan Berthiaume

Seattle – Amazom.com is reportedly seeking to strike deals with about 10 major retailers, including Abercrombie & Fitch, Neiman Marcus, J. Crew, Ralph Lauren, and Lord & Taylor, to sell their goods via listings on its e-commerce site. According to the Wall Street Journal, Amazon wants to provide links to the retailers’ own sites from its site, which would boost those retailers’ traffic while providing Amazon with a new stream of customer data and add justification for its reported plan to raise the annual fee for its Amazon Prime free shipping program.

The initiative could begin as soon as summer 2014, with Amazon including goods from those retailers in its Amazon Prime free shipment offering, though the retailers would manage and pay for actual delivery of goods. Amazon has a similar program in place with smaller retailers where they pay Amazon for any traffic or transactions generated and process the transactions, with Amazon collecting customer data.

It is not certain whether any large retailers have already signed on to the program. Amazon declined comment.

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