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Devonshire Lures New Grocer to Town

TOLEDO BLADE — Fresh Thyme Farmers Market, a suburban Chicago-based grocery chain that specializes in natural and organically grown produce, fruits, meats, and other items, will open a store in the former Office Depot location at 5105 Monroe St. in Sylvania Township, a local developer said Tuesday. Devonshire REIT, a local real estate investment trust that owns the 45,000-square-foot strip center where the grocer plans to operate, is redeveloping the site into a 30,250-square-foot market, plus two 2,000-square-foot spaces for smaller stores. It also will retain a fourth tenant, Bikram Yoga. Fresh Thyme tentatively plans to open in March. “They’re a good company and a good mix for that site,” said Doug Dymarkowski, Devonshire’s senior vice president and general counsel. “The Franklin Park area is one of

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Missing-in-Action U.S. Consumer Returns as Retail Sales Rise

The American consumer, missing in action for much of 2015, showed up in May.

Retail sales increased 1.2 percent last month, reflecting broad-based gains from car dealers to clothing outlets to department stores, after a 0.2 percent advance in April, according to data Thursday from the Commerce Department. A report on jobless claims pointed to continued strength in the labor market.

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Real Estate as a Major Asset Class

In the latest episode of the NAREIT Podcast, David Funk, director of the Baker Program in Real Estate at Cornell University, discussed his recent paper on elevating real estate to a fourth permanent asset class for institutional investors to join equities, fixed-income and cash.

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U.S. Chains Continue to Up Store Opening Plans

U.S. chain retailers have upped their store opening plans ever-so-slightly in April, confirming a positive outlook for the retail real estate sector going forward, according to the National Retailer Demand Monthly report from RBC Capital Markets.

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