Mergers & Acquisitions

City of Commerce, Calif. -- The founding family of the 99 Cents Only Stores chain has been fired by its owners, with retail veteran Richard Anicetti and Michael Fung taking over top executive roles.

The retailer said that Eric Schiffer (CEO), Jeff Gold (president) and Howard Gold (EVP) are “no longer employed by the company” and that Richard Anicetti has been named interim CEO. Schiffer is the son-in-law of founder David Gold while Jeff and Howard are his sons.

Jacksonville, Fla. -- Regency Centers said Wednesday it has appointed Joanna Rotonde to lead the company’s acquisitions and dispositions activities in the northeastern U.S.

Rotonde will focus on the expansion markets of Boston, Philadelphia and metro New York, and is charged with identifying, evaluating and structuring profitable property acquisition and disposition opportunities within Connecticut, Massachusetts, New Jersey, New York and Pennsylvania.  

Rotonde previously served as assistant VP for Urstadt Biddle Properties.

New York -- The latest data from Nielsen shows the number of U.S. convenience stores continues to expand and last year set a new record with 149,220 units.

That figures is up 1,094 units from the prior year so the increase amounts to only a 0.7% gain, according to the 2013 National Association of Convenience Stores/Nielsen Convenience Industry Store Count. Even so, the growth is noteworthy at a time when overall expansion of selling space in the broader retailer industry has remained stagnant even though the recession officially ended in 2009.

Valrico, Fla. -- Indianapolis-based Kite Realty Group said Wednesday that The Fresh Market has leased 18,091 sq. ft. at Lithia Crossing, located in Valrico, Fla.
 
The grocer will also open a store at Shops at Eagle Creek, in Naples, Fla. The new store will comprise 23,935 sq. ft.

DALLAS  — The growing popularity of Netflix, Hulu and other on-demand video rental services continues to take a toll on traditional brick-and-mortar video rental stores. 

Dish Network reported that its subsidiary, Blockbuster will close about 300 of its stores in the United States in the coming weeks. The closures will result in the loss of about 3,000 jobs and leave the chain with some 500 U.S. locations.

New York -- Wegmans has confirmed plans to open a store in Alexandria, Va., in 2014, according to Washington Business Journal.

The store will be located in Hilltop Village, which is being developed by Houston-based Weingarten Realty Investors. The project will feature some 250,000 sq. ft. of retail, anchored by the 143,000-sq.-ft. Wegmans, and 100,000 sq. ft. of office.

New York -- Shares of Safeway Inc. shares rose as much as 9% on Wednesday on rumors of increased buyout interest for its Canada operations by Canadian grocer Metro Inc. and Loblaw Companies Ltd.

On Tuesday, Metro announced it was selling off nearly half its stake in Couche-Tard Inc. for $482 million.

In December, Loblaw announced plans to spin off the vast majority of its property assets into a real estate investment trust.

Phoenix -- PetSmart on Tuesday announced its planned management succession plan. The company said that following its annual shareholders meeting on June 14, 2013, current president and COO David K. Lenhardt will be promoted to CEO and simultaneously join the board of directors. At that time, current chairman and CEO Bob Moran will vacate the CEO's chair and become executive chairman.