Finance & Capital Management

Milwaukee -- MLG Capital said Tuesday that Craig Lashley has been promoted to principal of the firm.

Lashley is currently VP Investments. In his role, he concentrates on the acquisition of new properties and asset management of MLG's existing real estate investment portfolio, which includes 26 assets encompassing approximately 2.5 million sq. ft.
 

Baltimore -- Atlanta-based Jones Lang LaSalle Retail announced that its president Greg Maloney has been appointed receiver of the Eastpoint Mall located in Baltimore County. Under Maloney’s leadership, Jones Lang LaSalle’s retail leasing and management team will assume immediate oversight of the mall and help stabilize the asset.

Oakbrook Terrace, Ill. -- Chicago-based Mid-America Real Estate Group announced the appointment of Cynthia J. Kratchman as a new principal at its Detroit-based division Mid-America Real Estate-Michigan Inc.

Kratchman joins the firm with more than 20 years of retail brokerage experience in Michigan, and will be primarily responsible for tenant representation, surplus disposition and high profile listings.

Previously, she was a broker with Landmark Commercial Real Estate Services.
 

TORONTO — Sears Canada is closing three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

DEERFIELD, Ill. — Higher front-end sales for the month of February helped counter-balance lost revenue from Express Scripts prescriptions, Walgreeens reported Monday. Overall, the drug store chain reported a 1.5% sales increase to $5.9 billion.

Shares of Walgreens were up slightly by 8 cents to $32.77 in early morning trading.

This year’s total February sales benefited from one extra day because of leap year, the company noted. 

JACKSONVILLE, Fla. -- Stein Mart has plans to open three new stores on March 15, located in Irvine, Calif.; Suwanee, Ga.; and Sunset Hills, Mo.

The Irvine store is a relocation of another Irvine location. The two new and one relocated store bring Stein Mart’s total store count to 264.

“We are pleased to announce the expansion of our footprint in these three existing markets,” said Jay Stein, interim CEO.

Naperville, Ill. — OfficeMax has named new leadership at its contract division. The company announced that, effective April 2, John Kenning will serve as executive VP and president and will report directly to Ravi Saligram, president and CEO of OfficeMax.

Mississauga, Ontario -- Canadian discount store chain The Bargain! Shop said Monday that it will acquire 10 retail locations from Hudson's Bay Co.’s closing Fields banner, effective Aug. 1.

The acquisitions will grow The Bargain! Shop to 237 stores.

"As part of our plan to further grow our organization, this is a great opportunity for us to expand our footprint across Canada," said Lloyd Davis, president of The Bargain! Shop. 

Jacksonville, Fla. -- Stein Mart said Monday it will open three new stores on March 15, located in Irvine, Calif.; Suwanee, Ga.; and Sunset Hills, Mo.

The Irvine store is a relocation of another Irvine location. The two new and one relocated store bring Stein Mart’s total store count to 264.

“We are pleased to announce the expansion of our footprint in these three existing markets,” said Jay Stein, interim CEO.

Sioux Falls, S.D. -- Verizon Wireless services retailer Z Wireless, which operates 12 stores throughout Kansas, on Monday announced the acquisition of T2 Wireless, another Verizon retailer which operates more than a hundred stores in the Great Plains.

Atlantic Street Capital, a private equity firm investing in the lower middle market, acquired Z Wireless in 2011.