Content about Ohio

August 20, 2014

L Brands on Wednesday reported that its second-quarter profit rose to $188.4 million, from $178.9 million last year.

Columbus, Ohio -- L-Brands on Wednesday reported that its second-quarter profit rose to $188.4 million, from $178.9 million last year. The retailer also lifted its fiscal full-year earnings outlook.

Revenue for the three months ended Aug. 2 rose to $2.68 billion, from $2.52 billion.

Same-store sales increased 3%.

 

August 13, 2014

Ascena Retail Group Inc. has opened its new 880,000-sq.-ft. shared services office complex and national distribution center in Pataskala, Ohio.

Etna, Ohio -- Ascena Retail Group Inc. has opened its new 880,000-sq.-ft. shared services office complex and national distribution center in Pataskala, Ohio.
 

August 13, 2014

Glimcher Realty Trust announced that Scott Barrett has been appointed to the role of VP development – anchor leasing.

Columbus, Ohio — Glimcher Realty Trust announced that Scott Barrett has been appointed to the role of VP development – anchor leasing. In this role, Barrett will lead the development, leasing and design activity associated with anchor, big-box and peripheral land deals across the portfolio.

August 5, 2014

Shopper traffic declined 6% in July 2014 compared to the same month in 2013, due to real wage pressure, favorable summer weather, and a shift towards big-ticket item purchases, according to monthly benchmarks from in-store analytics provider Euclid.

San Francisco – Shopper traffic declined 6% in July 2014 compared to the same month in 2013, due to real wage pressure, favorable summer weather, and a shift towards big-ticket item purchases, according to monthly benchmarks from in-store analytics provider Euclid.

July 30, 2014

The Kroger Co. Cincinnati/Dayton Division associates working at Kroger stores in metro and surrounding areas have ratified a new labor agreement with UFCW Local 75.

Cincinnati - The Kroger Co. Cincinnati/Dayton Division associates working at Kroger stores in metro and surrounding areas have ratified a new labor agreement with UFCW Local 75. It merges the formerly separate Cincinnati and Dayton contracts.

The contract covers 12,766 associates working in 76 stores in Cincinnati, and 4,945 associates working in 32 stores in Dayton.

July 30, 2014

AVI Foodsystems and Cafaro Co. have teamed to bring Bob Evans Farms into the mall food court environment.

Youngstown, Ohio — AVI Foodsystems and Cafaro Co. have teamed to bring Bob Evans Farms into the mall food court environment.

Warren, Ohio-based AVI collaborated with Bob Evans Farms to introduce Bob Evans Express, which scales down the traditional Bob Evans restaurant into a concept that works in venues such as workplace cafes, airports, travel plazas and universities.

July 30, 2014

AVI Foodsystems and Cafaro Co. have teamed to bring Bob Evans Farms into the mall food court environment.

Youngstown, Ohio — AVI Foodsystems and Cafaro Co. have teamed to bring Bob Evans Farms into the mall food court environment.

Warren, Ohio-based AVI collaborated with Bob Evans Farms to introduce Bob Evans Express, which scales down the traditional Bob Evans restaurant into a concept that works in venues such as workplace cafes, airports, travel plazas and universities.

July 22, 2014

Michael Weiss, who started with Express when it was an eight-store operation, will retire as CEO of the 600 plus-store specialty apparel company when its fiscal year ends on January 30, 2015.

Columbus, Ohio -- Michael Weiss, who started with Express when it was an eight-store operation, will retire as CEO of the 600 plus-store specialty apparel company when its fiscal year ends on January 30, 2015.

He will be succeeded by David Kornberg, 46, president, who will assume the added role of chief executive. Weiss, 73, will remain with Express as nonexecutive chairman of the board.

July 16, 2014

DDR announced the grand opening of Seabrook Commons, the company’s most recent ground-up development project located in Seabrook, New Hampshire, a northern suburb of the Boston MSA.

Beachwood, Ohio — DDR announced the grand opening of Seabrook Commons, the company’s most recent ground-up development project located in Seabrook, New Hampshire, a northern suburb of the Boston MSA.

The 380,000-sq.-ft. power center is 96% leased, anchored by Walmart, Dick's Sporting Goods, PetSmart, Michaels, ULTA, Famous Footwear and Five Below, and features a complementary restaurant lineup that includes Panera, Outback Steakhouse and Noodles & Company.

July 9, 2014

Glimcher Realty Trust has appointed Kenneth Marshall to the role of VP, Development.

Columbus, Ohio — Glimcher Realty Trust has appointed Kenneth Marshall to the role of VP, Development. In this position, Marshall will support the company’s development strategy, contributing to the leadership and implementation of redevelopment projects throughout the portfolio.

Prior to joining Glimcher, Marshall served as executive VP of the Commercial Division of Colonial Properties Trust (now MAA). In addition, he has served as VP and Regional Development Director for The Westfield Corp.

July 2, 2014

Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region.

NEW YORK — Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region. The joint venture purchased the property from Forest City Enterprises for $47,050,000, together with B&D Holdings, making it one of the largest single asset retail deals in the region during the past 24 months.

July 2, 2014

Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region.

NEW YORK — Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region. The joint venture purchased the property from Forest City Enterprises for $47,050,000, together with B&D Holdings, making it one of the largest single asset retail deals in the region during the past 24 months.

June 27, 2014

Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio.

Columbus, Ohio — Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio. The redevelopment included the opening of a new Wal-Mart Supercenter.

The center has also added a McAlister’s Deli, the first in Central Ohio. McAlister will join other new tenants, Sally Beauty and GameStop, as well as the existing line-up of retailers including Z Salon, The UPS Store, Thai Orchid, Huntington Bank, Skyline Chili, Burger King, Goodyear and PNC.

 

 

June 27, 2014

Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio.

Columbus, Ohio — Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio. The redevelopment included the opening of a new Wal-Mart Supercenter.

The center has also added a McAlister’s Deli, the first in Central Ohio. McAlister will join other new tenants, Sally Beauty and GameStop, as well as the existing line-up of retailers including Z Salon, The UPS Store, Thai Orchid, Huntington Bank, Skyline Chili, Burger King, Goodyear and PNC.

 

 

June 25, 2014

With buzz phrases like “omnichannel” and “customer disruption” dominating the retail conversation, landlords and tenants attending RECon 2014 in Las Vegas last May made it their mission to ensure that brick-and-mortar remains relevant. ­

June 24, 2014

Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region.

Youngstown, Ohio — Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region. The restaurant’s 2,195-sq.-ft. space is in a building currently undergoing renovation. Two other new merchants, to be announced in the near future, will join Chipotle in the building.

Cafaro affiliated companies own and manage the recently renovated Ohio Valley Mall.

 

June 24, 2014

Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region.

Youngstown, Ohio — Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region. The restaurant’s 2,195-sq.-ft. space is in a building currently undergoing renovation. Two other new merchants, to be announced in the near future, will join Chipotle in the building.

Cafaro affiliated companies own and manage the recently renovated Ohio Valley Mall.

 

June 24, 2014

Understand the assets covered by your leases: Taken together, leases are more than just one of a chain’s largest costs — they are the largest fixed expense, and they are fixed for the long term. As a rule, individual leases average seven to 10 years.

“Understanding that is critical,” said Michael P. Glimcher, chairman and CEO, Glimcher Realty Trust, Columbus, Ohio. “For a cost so large, you should have a strong knowledge about the assets covered by your leases.”

June 13, 2014

Express Inc. confirmed that it has received a letter from Sycamore Partners, which has a 9.9% stake in the retailer, indicating that the private equity firm is interested in acquiring the company.

Columbus, Ohio — Express Inc. confirmed that it has received a letter from Sycamore Partners, which has a 9.9% stake in the retailer, indicating that the private equity firm is interested in acquiring the company. In response, Express adopted a one-year “poison pill” shareholder rights plan that would double its shares of common stock in the event any stockholder acquires 10% or more of the company.

June 12, 2014

DDR Corp. and an affiliate of Blackstone Real Estate Partners VII have announced the formation of a third joint venture to acquire 76 shopping centers currently owned by American Realty Capital Properties, Inc.

Beachwood, Ohio — DDR Corp. and an affiliate of Blackstone Real Estate Partners VII have announced the formation of a third joint venture to acquire 76 shopping centers currently owned by American Realty Capital Properties, Inc.

The joint venture will acquire the portfolio in a transaction valued at $1.975 billion, including assumed debt of $461 million and approximately $800 million of new financings.  

June 12, 2014

Kroger Co. is reportedly planning to build a $250 million distribution center in the suburban Atlanta area.

Cincinnati — Kroger Co. is reportedly planning to build a $250 million distribution center in the suburban Atlanta area. According to the Cincinnati Business Courier, Kroger will open the 1 million-sq.-ft. facility in the suburb of Forest Park, on the site of the former Fort Gillem army base by September 2015.

The distribution center will open with 700 to 900 skilled workers, and eventually employ about 1,500 people. Kroger declined to comment on the report.

June 10, 2014

Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.

Cleveland, Texas — Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.

June 6, 2014

Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

Indianapolis — Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

June 6, 2014

Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

Indianapolis — Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

June 6, 2014

Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.

Cincinnati, Ohio — Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.