Mergers & Acquisitions

Minneapolis -- Best Buy Co. has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.

As part of Best Buy’s commitment to transparency, the company said the board will also publicly announce the selected search firm and will post the position on the company website. The final search firm selection will be announced in the next few weeks.

Corpus Christi, Texas -- Trademark Property Group announced that its La Palmera property in Corpus Christi, Texas, has five new stores planning to open by late spring.

Construction is underway on White House | Black Market (3,453 sq. ft.), Soma Intimates (2,313 sq. ft); Bebe (4,885 sq. ft.); Traffic Shoes (1,105 sq. ft.); and Papaya (6,350 sq. ft.).

The Children’s Place has opened a 3,467-sq.-ft new location by Champs, and construction is underway on a Payless ShoeSource location (3,360 sq. ft.), adjacent to the new Papaya.

MINNEAPOLIS — Best Buy may be dealing with all of the negative attention surrounding the resignation of Brian Dunn, but "the show must go on," as they say, and the search has begun for a new CEO. The company has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.

Tampa, Fla. -- The Container Store said it will be the anchor tenant of The Corner, a new 35,000-sq.-ft. retail center to be built on the corner of Westshore Boulevard and Spruce Street opposite International Plaza, in Tampa.

The Corner is a joint venture development of Saber Corner, an affiliate of Saber Real Estate Advisors, and ARC Property Trust, a Real Estate Investment Trust sponsored by ARC Properties Inc.

Igloo Products Corp., named Terri Brooks VP strategic accounts as part of a larger sales reorganization and said she would be based in Bentonville.

Katy, Texas-based Igloo said the addition of Brooks to her newly created position and the addition of David D’Auteuil as VP new business development would accelerate the momentum the company has achieved from new product introductions and aggressive marketing.

IBM’s decision to sell its Retail Store Solutions (RSS) business to Toshiba TEC was the most significant announcement in the retail point-of-sale industry in the last 10 years, according to industry analyst Greg Buzek, president, IHL Group, Franklin, Tenn. The acquisition establishes a new company in which Toshiba will initially own 80.1% and IBM 19.9% for the next three years to aid transition and after which time IBM will relinquish its stake.

Oxford, Mich. -- X Team, an international alliance of retail real estate advisors, announced that Detroit-based partner Stokas Bieri Real Estate represented Center Management in the purchase of The Promenade at Waterside in Oxford, Mich.

Encino, Calif. -- Marcus & Millichap Real Estate Investment Services announced a number of appointments within its National Retail Group offices around the country.

Joel M. Dumes has been named director of the firm’s National Retail Group in Cincinnati; Dumes is currently VP investments for the company.

Scott J. Wiles, a seven-year veteran of the company, was named director of the firm’s National Retail Group in Cleveland, and Erin E. Patton is now director of the National Retail Group in Columbus, Ohio.