Mergers & Acquisitions

Las Vegas -- In the latest acquisition for its Primestor-Platinum Urban Opportunity Fund I, LP, Primestor Development has acquired 4G Plaza, a neighborhood shopping center in Las Vegas, for $8.8 million.

Purchased from 4G Properties LLC, the 78,849-sq.-ft. center is anchored by El Super and shadow-anchored by The Home Depot. It is 93% leased. Other tenants include Wells Fargo, Taco Bell, Big 5 Sporting Goods and Sprint.

Pleasanton, Calif. -- Safeway said its board of directors increased its stock buyback authorization by $1.0 billion, to $8.0 billion.

The supermarket operator said it had repurchased $6.1 billion of its stock through the end of the third quarter and had about $0.9 billion remaining under the buyback program at that time.

The repurchase authorization does not have an expiration date, Safeway said in a statement.
 

St. Louis -- Grocer Save-A-Lot, a subsidiary of SuperValu, said Tuesday it will open a 330,000-sq.-ft. distribution center in Lexington, N.C., on Nov. 30.

The $24 million project is designed to support Save-A-Lot’s growth in region.

The new DC will employ 35 employees initially and is a collaboration with the state of North Carolina and its One North Carolina Fund, the North Carolina Department of Commerce, Davidson County and the City of Lexington.

Canton, Mass. -- Dunkin' Brands Group said Tuesday it has signed agreements to develop 25 new Dunkin' Donuts and two Baskin-Robbins in Louisiana over the next several years.

Cities targeted for development include Baton Rouge, Shreveport and New Orleans.

"The state of Louisiana has been a priority growth market for Dunkin' Brands in 2011 and we're excited to expand our footprint in Baton Rouge, Shreveport and New Orleans," said Grant Benson, VP franchising and market planning, Dunkin' Brands.

PITTSBURGH — Dick's Sporting Goods took another step in expanding out West with the announcement that it will build a distribution center in Goodyear, Ariz., that is expected to bring approximately 120 jobs to the area when business opens in early 2013.

The distribution center will be designed to ultimately support approximately 160 stores as Dick's Sporting Goods grows its store base in the Western United States over the next 5-10 years and is eventually expected to employ up to 300 associates, the company reported.

Coppell, Texas -- CiCi's Pizza said Tuesday it has partnered with strategic site modeling company Birchwood Resultants to add another 500 restaurants in the next eight to 10 years.

ST. LOUIS — Supervalu banner Save-A-Lot will open a new 330,000-sq.-ft. food distribution center in Lexington, N.C., on Wednesday.

The distribution center initially will service more than 70 stores within a 150-mile radius, Save-A-Lot noted.

The distribution center, which will employ 35 employees, is part of the company's commitment to expand in the region. Currently, there are nearly 30 Save-A-Lot stores in North Carolina, including one in Lexington; the company plans to open an additional three stores in the state by March 2012.

Chicago -- Mall owner General Growth Properties said Tuesday it has appointed Michael B. Berman as its new executive VP and CFO, effective Dec. 15.

Berman replaces Steve Douglas, who will return to Brookfield Asset Management after his tenure with GGP and assume a role with Brookfield. Douglas will remain with GGP until December 31 to assist with the transition.