January 25, 2022
Shopping Center SmartBrief
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Sources: Starboard makes $9B bid for Kohl's
(Bruce Bennett/Getty Images)
Acacia Research, a group controlled by hedge fund Starboard Value, has made an unsolicited bid of about $9 billion to buy Kohl's, sources said over the weekend. Kohl's has faced increasing pressure from activist investors to consider strategic alternatives including a possible sale to boost shareholder value, and other firms including Sycamore Partners and Oak Street Real Estate Capital are reportedly considering bids for the retailer.
Full Story: CNN (1/24),  The New York Times (1/22),  The Wall Street Journal (1/23) 
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What trends will move digital commerce in 2021?
Pivotree experts share their predictions for 2022 across three critical areas of commerce: Supply Chain, eCommerce, and Data Management. Join us for an interactive chat to find out when and how supply chain woes could ease up, the trends we expect to accelerate, and 3 areas of CX to focus on. Register for the webinar.
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Industry Tracker
Blackstone has acquired a mixed-use project in Durham, N.C., for $273.5 million. Called West Village, the site has retail, apartment and office uses.
Full Story: The Business Journals (tiered subscription model)/Raleigh/Durham, N.C. (1/20) 
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A Federal Realty Investment Trust affiliate has sold a Giant-anchored retail center in Leesburg, Va., for $73.5 million. Federal Realty acquired the 235,000-square-foot center in 1998.
Full Story: The Business Journals (tiered subscription model)/Washington, D.C. (1/19) 
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Brixmor Property Group has acquired a retail center in Brea, Calif., that is co-anchored by a Ralphs and Rite Aid. The property, which sits on 12.5 acres, sold for $85.7 million and was 98% leased at the time.
Full Story: GlobeSt (free registration) (1/21) 
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The Reno, Nev., shopping center known as South Meadows Promenade has sold for $34 million to an investor in a 1031 exchange. The 80,000-square-foot center was fully leased at time of sale by tenants such as Chipotle Mexican Grill, Marshalls, Starbucks Coffee, Sprouts Farmers Market and Sports Clips.
Full Story: Shopping Center Business (1/24) 
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Retail News
Big-box retail stores across the US boast flat rooftop spaces big enough for solar panel installations that could generate half the power they need to run their operations, according to a report from the Environment America Research and Policy Center and Frontier Group. Superstores in the continental US have about 7.2 billion square feet of roof space, with Walmart accounting for the largest share of that space, followed by Target and Home Depot.
Full Story: The Washington Post (tiered subscription model) (1/20) 
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Amazon will make a foray into brick-and-mortar fashion retail with the opening of a store called Amazon Style in the Los Angeles area later this year. The 30,000-square-foot store will allow shoppers to scan QR codes to see additional styles and other information about clothing items.
Full Story: CNBC (1/20),  The New York Times (1/20) 
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New Apple stores that opened last year follow the tech giant's retail format of melding its minimalist style with architectural features that make each location unique. The Apple store in Rome's Palazzo Marignoli boasts restored murals and frescoes from the original 19th century palace, and a location in Istanbul features a tree-filled green oasis along with a glass facade and skylights to flood the space with natural light.
Full Story: CNBC (1/23) 
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About the Editor
Katie Parks
Katie Parks
I've had the pleasure of editing numerous business- and travel-related newsletters at SmartBrief for nearly 10 years, including those covering shopping centers, hotels, casinos and amusement parks as well as spa industry news.

If you enjoy reading Shopping Center SmartBrief and have a story or poll idea, please send me an email.

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