A division of NATIXIS Real Estate Capital acquired the Summer Commons retail center in Berclair, Tenn., in a foreclosure sale for $3.5 million. The 120,000-square-foot center is anchored by Northern Tool and Equipment Co. and Save-A-Lot.
Retailers such as Saks Fifth Avenue entered the spring shopping season with less inventory, but they're still marking down merchandise early. Kohl's, Bloomingdale's, Gap and J. Crew are among the brands also offering promotions.
With Aeropostale showing strong sales, the company has decided to move into the younger market with its P.S. line, which is aimed at tweens ages 7 to 12. "The innovative store format will be a fun, playful and inviting shopping experience for both the child and parent," Chairman and CEO Julian Geiger said.