REBusinessOnline

Costco Reports 12.5 Percent Increase in Quarterly Sales as Fiscal Year Sales Soar

ISSAQUAH, WASH. — Costco Wholesale Corp. (NASDAQ: COST) has reported a 12.5 percent increase in quarterly net sales in its fiscal fourth quarter, which ended Aug. 30. Costco's sales jumped to $52.9 billion from $46.4 billion last year.Costco also experienced a 91 percent jump in quarterly e-commerce sales, resulting in a 50 percent increase over the previous year.The company’s net income for the fourth quarter was $1.4 billion, compared with $1.1 billion last year, even though this …

Company News, Retail, Washington, Western

Wegmans to Open 80,000 SF Store in Northern Virginia in November

TYSONS, VA. — Wegmans is slated to open an 80,000-square-foot store in Tysons on Nov. 4. Wegmans Tysons will feature a café with indoor/outdoor seating and The Burger Bar. The store will be located along the McLean Silver Line Metro stop at 1835 Capital One Drive S., 12 miles west of downtown Washington, D.C. Rochester, N.Y.-based Wegmans is hoping to hire 150 employees before the grand opening. The location is situated within Capital One Center, the public-facing portion of the bank’s …

Development, Retail, Southeast, Virginia

CFC Begins Construction of 3,000 SF Cannabis Dispensary in Calumet City, Illinois

CALUMET CITY, ILL. — Cannabis Facility Construction (CFC) has begun the buildout of a Mission Dispensaries-branded cannabis dispensary at 1330 Torrence Ave. in Calumet City, about 20 miles south of Chicago. The 3,000-square-foot facility will feature retail space, back office space for processing, a secure vault for inventory storage and an advanced security system. Completion is slated for mid-December. The developer, 4Front Ventures Corp., has utilized CFC for other dispensary projects in …

Development, Illinois, Midwest, Retail

Retail by MONA Launches Leasing, Advisory Firm in New York City

NEW YORK CITY — Brandon Singer, formerly of Cushman & Wakefield, has launched Retail by MONA, a leasing and advisory firm that will serve New York City. MONA is an acronym for Making of a New Age. The company has strategic partnerships with property owners including Aby Rosen and Michael Fuchs, founders of RFR Holding. Singer will serve as CEO of the new entity, which will offer both tenant and landlord representation services. Michael Cody, also formerly with Cushman & Wakefield, …

Company News, New York, Northeast, Retail

Darden Restaurants Reports 28.4 Percent Slide in Fiscal First-Quarter Sales

ORLANDO, FLA. — Darden Restaurants Inc. (NYSE: DRI) has reported its sales fell 28.4 percent in its fiscal first quarter, which ended Aug. 30. The Orlando-based company owns restaurant brands including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s.Darden reported that sales in its fine dining restaurants fell 38.9 percent year-over-year. Sales at Olive Garden slid 27.7 percent, while LongHorn saw a …

Company News, Florida, Restaurant, Retail, Southeast

Nike’s Online Sales Jump 82 Percent Resulting in $10.6B in Quarterly Revenue

BEAVERTON, ORE. — Nike Inc. (NYSE: NKE), the Beaverton-based footwear giant, has reported it revenues were $10.6 billion for its 2021 fiscal first quarter, which ended Aug. 31. The revenue represents a decrease of 1 percent from the same period in 2019, with its direct sales at $3.7 billion, up 12 percent, and Nike Brand digital sales swelling by 82 percent.The digital sales growth resulted from e-commerce increases across North America, Greater China, Asia Pacific, Latin America, Europe, …

Company News, Oregon, Retail, Western

NKF Arranges Sale of 35,157 SF, Two-Tenant Retail Center in Yuma, Arizona

YUMA, ARIZ. — Newmark Knight Frank (NKF) has arranged the sale of a neighborhood shopping center in Yuma. Hawkins-Smith & Jason sold the asset to Moreno-Third Street for $3.4 million.Located at 500 W. Cataline Drive, the retail center features 35,157 square feet of retail space. Dollar Tree and dd’s Discounts, a subsidiary of Ross Stores, occupy the two-tenant property.Steve Julius, Jesse Goldsmith and Chase Dorsett of NKF represented the seller and buyer in the

Acquisitions, Arizona, Retail, Western

Dow Credit Union Buys Retail Building in Antioch, California for $1.8M

ANTIOCH, CALIF. — Avison Young has brokered the purchase of a retail property located at 3457 Deer Valley Road in Antioch. Dow Credit Union acquired the property for $1.8 million.The buyer plans to use the 5,660-square-foot property as its new headquarters and a store location. In addition to the space Dow is utilizing, the property includes a 1,348-square-foot space occupied by Great Clips, providing additional cash flow for the ownership.Hayden Eaves and Kristen Sullivan of Avison …

Acquisitions, California, Retail, Western

Marcus & Millichap Negotiates $3.5M Sale of Strip Retail Center in Camden, South Carolina

CAMDEN, S.C. — Marcus & Millichap has negotiated the $3.5 million sale of Aspen Dental Strip Center, an 8,400-square-foot retail property in Camden. The strip retail center was leased to Aspen Dental, Jersey Mike’s, T-Mobile and a nail salon at the time of sale. Zach Taylor and Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, BM Camden Associates LLC, in the transaction. W Properties LLC, a privately held 1031 exchange investor, acquired the …

Acquisitions, Retail, South Carolina, Southeast

Hills Café to Open 2,810 SF Breakfast Restaurant in Metro Dallas in December

LEWISVILLE, TEXAS — Hills Café will open a 2,810-square-foot breakfast and lunch restaurant at Castle Hills Village Shops in the northern Dallas suburb of Lewisville. The opening is slated for December. Dan Looney and Nick Miller internally represented the landlord, locally based developer Bright Realty, in the negotiations for the 10-year lease. Hunt Kim and James Lee of JLB R&I represented the

Leasing Activity, Restaurant, Retail, Texas
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