- Office Depot partners with e-commerce giant, Alibaba. The partnership will consist of a co-branded site; alibaba.com/officedepot. The goal is to target more small and midsize businesses.
- Amazon is launching grocery stores in an attempt to come in at a lower price point than Whole Foods (which Amazon owns). The TBD name stores will begin to open on the West Coast later this year.
- Gap to close 230 stores. The retailer hit a 5% drop compared to last year. Reason for the closures: the brand is trying to keep up with ‘new consumer behavior.’
- Long Island City’s saw a 99% increase on residential contracts signedbetween November and February. This was a direct result of Amazon HQ2. Now that Amazon is gone, some deals are said to fall apart or be renegotiated.
- FCP to provide Fairfield Properties with a $100m investment for a seven-property multifamily portfolio consisting of 1,496 units property in Nassau and Suffolk Counties.
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