Retail property news from the Asia-Pacific region: • French luxury goods retailer Hèrmes sold four stores totalling 7,500 square feet at The Galleria at 9 Queen’s Road, in Hong Kong's Central District, for $61.2 million, to real estate fund Chelsfield Asia. The transaction “will certainly serve as a benchmark in the core business district,” said Michael Chik, managing director of agency Sheraton Valuers, reports the South China Morning Post.
Southeastern Grocers will shutter 16 percent of its stores as it prepares to file for bankruptcy protection. That includes 94 Winn-Dixie, Harveys, and Bi-Lo locations in the Southeast, reports Business Insider. The move will leave the company with 582 stores. The company plans to file for bankruptcy by the end of March.
When Toys 'R' Us finally liquidates its U.S. stores, it will be good news for landlords that have been hoping to recapture space for more-profitable tenants. Publicly traded REITs, which tend to own many of the strongest retail properties, are particularly well-positioned, experts say.