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PALOMAR GROUP SECURES SALE OF HARPER SQUARE SHOPPING CENTER IN CORINTH, MISSISSIPPI
The Palomar Group has secured the $3 million sale of Harper Square, a 40,000-square-foot shopping center located at 1801 S. Harper Road in Corinth. The property, which was redeveloped in 2018, was fully leased at the time of sale to Marshalls and Aldi.
WALMART PILOTS PROGRAM FOR COLLEGE GRADS TO BECOME STORE MANAGERS – WITH BIG SALARY
Walmart is looking to jump-start the careers of college graduates — at Walmart. The retailer is piloting a training program this summer for recent college graduates and current college students within 12 months of graduating, including Walmart employees.
GROCERY PRICES SOAR 10.8% AS INFLATION REMAINS HIGH
Grocery prices in April rose for five of the six major food categories. Dairy and related products rose 2.5%, marking its largest monthly increase since July 2007. Nonalcoholic beverages followed as the second-highest index with a 2% increase.
REIT OPERATING PERFORMANCE REMAINS STRONG AGAINST HIGH INFLATION
The Bureau of Labor Statistics (BLS) released the April 2022 Consumer Price Index (CPI) data showing a much smaller monthly increase in prices in April than in March. CPI increased 0.3% in April and was up 8.3% on a year over year basis compared to 8.5% annual rate for March.
RETAIL SALES RISE IN APRIL AMID CONSUMER RESILIENCE
Even record inflation didn’t damper Americans’ penchant to spend in April, as retail sales overcame higher prices to show both monthly and year-over-year increases. Retail sales rose 0.9% in April from March and were up 6.4% year-over-year, according to the National Retail Federation.
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