National View
Retail sales rise 1 percent in January
After falling for six months straight, retail sales jumped 1 percent in the month of January. The report shows a strong increase in the “big box” outlets.
http://plainvanillashell.com/article.asp?ID=11830
Microsoft Appoints David Porter as Corporate Vice President of Retail Stores
Microsoft is planning a worldwide rollout of retail stores and has hired David Porter, a former Wal-Mart executive to lead efforts and create a retail purchase experience for its consumers.
http://www.microsoft.com/presspass/press/2009/feb09/02-12CVPRetailStoresPR.mspx
Kohl's tops consumer satisfaction survey: Retailer ties for first with Nordstrom; overall data up slightly
Kohl’s Department Stores have been near the top of the Consumer Satisfaction Survey since 2002. They are now tied for first place with Nordstrom. The fourth quarter 2008 survey shows an overall improvement in consumer satisfaction.
http://plainvanillashell.com/article.asp?ID=11844
Regional View
Rents Can Wait – Sometimes
Developers and Landlords are deferring rents to maintain occupancy within their centers. In some cases Developers and Landlords are working with their tenants to keep their centers occupied.
http://www.globest.com/news/1343_1343/insider/176791-1.html?sector=retail
Trump Entertainment Files Chapter 11
Trump Entertainment has filed for Chapter 11 bankruptcy protection. The firm, owner of three casinos locally, missed a $53-million interest payment in December.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPdB1t9zUEUA&refer=home
Ambitions for Norristown movie studio scaled back
Although a ten million dollar state subsidy was given to this project sometime last year, groundbreaking has been repeatedly delayed. This 100,000 SF film studio space has been cut drastically. The new plans also show a supermarket and fast food user added to the site.
Fameco View
Fameco Signs 2 Leases for Cricket Communications
Plymouth Meeting, PA — Fameco Real Estate, L.P., the region’s foremost full service retail real estate firm, has inked two deals with Cricket Communications, it was announced by Brandon Famous, Fameco’s CEO and Founder.
http://www.fameco.com/Pages/NewsFiles/2-20-09_CricketCommunications.htm
Fameco Real Estate, LP
Philadelphia, PA 633 W Germantown Pike, Suite 200 Plymouth Meeting, PA 19462 Phone: 610-834-8000 Fax: 610-834-1793 |
Woodbridge, NJ 555 US Highway 1 South, Suite 400 Iselin, NJ 08830 Phone: 732-526-9100 Fax: 732-526-9101 |
The Power of Retail
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