Wednesday, November 16, 2016

Walmart Pushes for Change in Retail Strategy to Increase In-Store Pick Ups

Target Corp. and Walmart Stores Inc., among other similar large companies, are starting to invest heavily to make same-day store pickups possible for more and more products. During the holiday season, it seems that more items are ordered online from customers and retailers are pushing to make those products available that very day. In fact, Walmart said the volume of items ordered online and then picked up in stores the same day increases by five times during the holiday season! Pickup orders skyrocketed last season, but it’s expected to increase by even more this year.

Walmart is planning to focus on discounts, aiming for the lowest prices on items rather than offering “gimmicky” deals for a second year in a row; their customers are expecting more consistent pricing. The retailer will also look to make checkouts faster within the stores, said Walmart Chief Operating Officer Judith McKenna. Now, staff members wearing yellow vests will help shoppers find open registers and the shortest lines, as well as grabbing items customers may have not remembered.

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Monday, November 7, 2016

Bascom Makes 196-Unit Acquisition to Portfolio in “Poised for Growth” Tucson, Arizona!

Springs at Continental Ranch is a 196-unit luxury apartment complex located in Tucson, Arizona that was recently purchased by The Bascom Group for $250 million! Oaktree Capital Management managed the funds for the real estate transaction. Built in 1999, the community consists of 19 two-story buildings and includes two high-class, resort-style swimming pools along with a spa. There are also several other amenities offered onsite, including controlled access gated entry, common area Wi-Fi, a theater room, a 24-hour fitness center, barbeque grills and private garages.

The apartment complex is situated in an excellent growth position, located in an economically-developing section in northwest Tucson, just west of Interestate-10.

Mark Jacobs, the Managing Director at Oaktree, is quoted, “as a smaller market, Tucson is sometimes overlooked. But the jobs-to-permits ratio is amongst the highest in the nation with more than three jobs created for every housing unit built!” He continues: “We believe Tucson is poised for meaningful rent gains as a result of strong, high-quality job growth with limited new supply pipeline.”

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