Mergers & Acquisitions

Auburn, Ala. -- Merchants Retail Partners recently led the acquisition of Flint’s Crossing in Auburn, Alabama, on behalf of its related investment partner. The 100,000-sq.-ft. shopping center is anchored by gourmet grocer EarthFare and Panera Bread.

Oakbrook, Ill. -- InvenTrust Properties Corp. announced a series of appointments to its senior management team. The new appointments, effective immediately, are as follows:

· James Christensen has been named senior VP of asset management.
 
· Chris Dykstra has been named senior VP of property management.
 
· Nicole Horne has been named VP of transactions.
 

If you’ve been reading this column over the last four years, let me first say, “thank you!” It’s gratifying to think that my musings about retail and retail real estate have kept your attention and interest. In this, my 100th and final (except for an occasional contribution) Retail Rap, I wanted to tackle the big question: What’s next? Where is the retail industry — particularly brick-and-mortar — headed in the months and years ahead?

Kenosha, Wis. – Some things are traditionally assumed not to mix – oil and water, cats and dogs, finance and IT. While the CFO has been taking a more active role in high-level IT decision-making in recent years, vertical apparel retailer Jockey International Inc. mixes money with technology more than most of its competitors.

The Wall Street Journal reports that privately held Jockey recently hired Dain Bussewitz, former VP of finance at Abercrombie & Fitch, to assume the combined role of CIO and CFO.

Roanoke, Va. – Advance Auto Parts Inc. is shifting into high gear when it comes to finance. The retailer has been selected to join the prestigious Standard & Poor’s (S&P) 500 stock index at the close of business July 8, replacing Family Dollar Stores Inc.

Chicago -- Marbles: The Brain Store is in an expansion mode.

The retailer has opened a new store in Washington D.C., at National Harbor, the waterfront shopping and entertainment district on the Potomac River. It is Marbles’ second location in the Washington, D.C., area and its third to open this summer, with new stores debuting in Times Square in New York City and Myrtle Beach, South Carolina, marking its first location in the southern region.

Camp Hill, Pa. -- Rite Aid Corporation is beefing up its risk management.

The drugstore chain announced that Paul Zikmund, a risk management professional with nearly 30 years of experience, is joining Rite Aid as group VP of risk and controls.

In this new position, Zikmund will oversee the risk management program for Rite Aid as well as its subsidiaries, RediClinic, Health Dialog and EnvisionRx. Zikmund will report to Tony Bellezza, Rite Aid senior VP and chief compliance officer.

Cincinnati -- Phillips Edison Grocery Center announced it has acquired three grocery-anchored shopping centers in Michigan, California, and Massachusetts.

Crossroads Towne Center is a 102,275-sq.-ft. grocery store-anchored shopping center in Howell, Michigan, a suburb of Ann Arbor, Michigan. The center is anchored by Kroger, and also features national tenants Great Clips, Jets Pizza, Subway, H&R Block, and Little Caesars.  

Chesapeake, Va. -- It’s a done deal.

Dollar Tree announced Monday that it has completed its $8.5 billion acquisition of Family Dollar Stores.

Gary Philbin, 58, formerly president and COO of Dollar Tree, has been named to the same position at Family Dollar, effective immediately. In his new role, Philbin will continue to report to Bob Sasser, CEO of Dollar Tree.

Los Angeles -- American Apparel on Monday announced it would close some stores as part of a $30 million cost-cutting initiative in its strategic turnaround plan. (American Apparel CEO Paula Schneider discussed the plan with CSA in a recent interview.) The embattled company also made two other revealing disclosures.