Mergers & Acquisitions

New York -- Two retail and consumer product goods veterans have joined Target's board of directors.

The company announced Wednesday that its board of directors elected Donald R. Knauss, former executive chairman and former chairman and CEO of the Clorox Company, and Robert L. Edwards, former CEO of Safeway Inc., as new directors, effective immediately.


New York -- Macy’s has joined the increasing number of retailers tapping into their real estate assets.

Macy’s on Wednesday announced a real estate purchase agreement with developer Tishman Speyer to sell several of the nine floors of the Macy’s store on Fulton Street in Brooklyn, New York. The real estate transaction is expected to be completed in the fourth quarter, and Macy’s is expected to record a gain of approximately $250 million in its fiscal fourth quarter of 2015.

Lowe’s is giving an overhaul to its store format strategy when it opens in New York City this week. 

New York -- Get ready for Irish fast-fashion.
 
Value apparel retailer Primark, which  recently launched its U.S. website, announced it will open its first U.S. location, in Boston, on Sept. 10. The store measures 77,000 sq. ft. and is situated downtown in the Burnham Building, the site of the city’s iconic Filene's department store.

Primark’s second U.S. outpost will open in King of Prussia mall. The retailer said it plans to open an additional eight stores over the next two years.

Bentonville, Ark. -- A pioneer in retail clinics has joined the nation’s largest retailer.

Sandra Ryan has accepted a position with Walmart to lead the chain’s Care Clinic business, Drug Store News has learned, in a move that suggests the world's largest retailer is ready to make some major moves in the retail clinic space.

New York -- The brand that ‘Seinfeld’ made famous has tapped a retail vet as CEO.

Soupman announces that Jamieson Karson has joined the company as CEO and chairman. Karson is the former CEO and chairman of Steven Madden.

During his tenure at Steve Madden, Karson is credited with stabilizing the company and expanding the company's footprint into the global retail and wholesale markets. After Steve Madden, he was a partner at Lightship Partners, a retail consulting firm.

Westmont, Ill. -- Tri-Land Properties said that it has named Paul R. Sevenich as VP of leasing. Sevenich brings 30-plus years’ experience in retail real estate development and redevelopment, acquisitions, retail center positioning, value enhanced leasing, merchandising strategies and financial analysis of the Midwest and the South. Some of the companies he has worked for include CSM Corporation, Kraus-Anderson, CBL & Associates and General Growth.

Bethesda, Md. -- Washington Property Company announced it has acquired Ballenger Creek Plaza, a 75,527-sq.-ft. center located in Frederick, Maryland, for $9.5 million.

“Washington Property Company is excited about expanding its retail portfolio with the acquisition of Ballenger Creek Center,” said WPC president Charles K. Nulsen, III. “We plan to renovate and reposition this neighborhood center in the growing submarket of southwestern Frederick.”
 

Atlanta -- FCA Partners announced the acquisition of Parkway Pointe, a 196,664-sq.-ft. retail center located in Atlanta. The property was purchased for $43.9 million from Stockbridge Capital on June 25.  

An early proponent and innovator of retail health care clinics has joined Walmart in a new role that suggests the world’s largest retailer is ready to make some major moves.

Retail clinic pioneer Sandra Ryan has accepted a position with Walmart to lead their Care Clinic business, Drug Store News has learned, in a move that suggests the world's largest retailer is ready to make some major moves in the retail clinic space.