Milwaukee Pick ‘n Save center sold
Chicago-based Newport Capital Partners purchased a 69,749-sq.-ft. center anchored by Pick ‘n Save the Milwaukee area. Terms of the deal, brokered by Mid-American Real Estate Corp., were not disclosed.
Other tenants in the center at the Intersection of I-41/45 and Mayfair Road in Wauwatosa include Firehouse Subs, Mattress Firm, and Supercuts. The sellers were New York-based DRA Advisors and Atlanta-based RCG Partners.
Pick ‘n Save, a subsidiary of Kroger, is a leading grocery chain in Milwaukee.
Retail sales stall in July
Consumers cooled their spending in July.
Retail sales were flat in July, in line with a revised 0.8% gain in June, according to figures released Friday by the Commerce Department. The report ended three straight months of monthly gains.
Sales in July rose 2.3% from a year ago. Excluding automobiles and parts sales, sales fell 0.3% in July — the weakest reading since January, after a 0.9% gain in the prior month.
Core sales, the figures that are used to calculate gross domestic product and which exclude such categories as auto dealers, gasoline stations and building materials merchants, were also little changed last month after 0.5% increase in June.
The report showed relatively strong sales at auto dealers and non-store retailers, with weakness in many other sectors, including department stores, where sales fell 0.5%.
Sales at auto and parts dealers rose 1.1% in July. The only other bright spot was non-store retailers, which includes online sales, which increased 1.3% over June.
Tupperware sells Florida center for $121 million
Crosslands Shopping Center, a joint development of Tupperware Brands and O’Connor Capital Partners, has been sold for $121 million just two years after opening in Kissimmee, Florida, according to a report in the Orlando Business Sentinel.
The Hampshire Companies, a New Jersey-based real estate firm, announced that it had acquired the center on behalf of an unnamed foreign investor. Crosslands is located within the Osceola Corporate Center, not far from Tupperware headquarters in Orlando.
The 450,000-sq.-ft. big-box center, the first to debut in Central Florida since the Great Recession, recently opened the adjoining Cinque Terre Center, which includes a 24 Hour Fitness Center and a Burlington Coat Factory. Crosslands tenants include Home Goods, Marshalls, Ross Dress for Less, and Fresh Market.
Tupperware Brands, a consumer products company, markets Tupperware food storage products and personal care brands that include BeautiControl, Fuller Cosmetics, and NaturCare.