Finance & Capital Management

Buffalo, Mo. -- Mid-America Real Estate – Minnesota recently brokered the sale of Buffalo Crossroads Center located along Highway 55 in Buffalo, Minnesota. The property was acquired by a local investment group for $3.8 million.

Buffalo Crossroads is a 19,753 sq. ft. center anchored by Jimmy John’s and Anytime Fitness.

Hickory Farms is looking for new ways to grow following the operator of the company acquisition last fall by a private equity firm and the recent appointment of a CEO who spent time at RedBox and Crate & Barrel.

Modell’s Sporting Goods continues to grow its brick-and-mortar footprint. The New York-based company has added two more stores to its portfolio, one in Boston and the other in Philadelphia. Both stores are in prime locations formerly occupied by City Sports. (City Sports filed for bankruptcy in October 2016, and subsequently announced it would close all locations.)

In Boston, Modell’s opened an 11,000-sq.-ft. store on Boylston Street, in the city’s Back Bay area. It’s the retailer’s first outpost in downtown Boston.

The CEOs of Staples and Office Depot penned a letter to customers which reveals the extent of their deteriorated relations with the Federal Trade Commission ahead of a hearing that begins March 21 that will determine whether the retailers are allowed to merge.

In the letter, Staples chairman and CEO Ron Sargent and Office Depot chairman and CEO Roland Smith stop short of actually calling the FTC stupid, but that is the inference from more diplomatically worded prose.

Specialty apparel retailer New York & Company plans to convert even more of its nearly 500 stores to an outlet format following a strong finish to the year.

PizzaRev, a fast-casual pizza concept backed by Buffalo Wild Wings, announced its first locations in New York.

New York is one of five new states that PizzaRev will enter this year, including Massachusetts, Nevada, Ohio, and Tennessee. The company will also make its international debut in Mexico shortly after opening in New York. There are currently more than 150 additional PizzaRev restaurants in various stages of development across the United States and Mexico.

Gordmans Stores plans to open a new store next month in its hometown of Omaha in April, the first of five new units the apparel and home décor retailer has planned for the year.

Gordmans Stores plans to open a new store next month in its hometown of Omaha in April, the first of five new units apparel and home décor retailer has planned for the year.