New Hyde Park, N.Y. — In the much-watched deal between Supervalu and a consortium of investors led by Cerberus Capital Management, Kimco Realty Group – along with several other real estate companies — has emerged as a player.
Bismarck, N.D. -- Chattanooga, Tenn.-based CBL & Associates Properties announced Thursday that it plans to acquire Kirkwood Mall, located in Bismarck, N.D., from Radiant Partners.
Conyers, Ga. -- Brixmor Property Group announced a 24,920-sq.-ft. lease was executed with Jo-Ann Fabric and Crafts at Conyers Plaza, located in Conyers, Ga.
Brixmor, based in New York City, is the owner of Conyers Plaza.
Philadelphia and New York -- Law firm Duane Morris announced that it has named partners Chester Lee in New York and George Kroculick in Philadelphia as co-chairs of its firmwide Real Estate Practice Group.
Lee and Kroculick succeed partner Marc Brookman in heading the practice.
Lee and Kroculick will take over a national practice involving more than 90 lawyers with broad experience in real estate and development matters.
Chicago -- Walgreens on Wednesday told shareholders at the chain’s annual meeting in Chicago that it will continue to push the envelope of traditional drugstore retailing. Going forward, the company said it is focused on three areas of opportunity:
San Francisco -- Gymboree Corp. has hired a second senior-level Gap Inc. executive, naming Gap North America finance VP Evan Price as its new CFO.
Price, who also served as VP of Old Navy, will take over Gymboree’s top finance slot on Jan. 21, joining new CEO Mark Breitbard, former Gap North American division president.
Los Angeles -- CBRE Group reported Thursday that, despite sluggish economic growth, the U.S. commercial real estate market remained on a recovery path in fourth quarter 2012.
The retail availability rate declined slightly to 12.8%, down 10 bps compared with the previous quarter.
“The broken record of slow but positive progress toward a real estate recovery continues to repeat,” said Jon Southard, managing director of CBRE’s Econometric Advisors Group.
New York -- Fast Retailing Co., parent to the Uniqlo chain, reported Thursday that net income for the fiscal first quarter jumped 17% to $644.3 million, boosted by strong same-store sales at Japan Uniqlo units.
On Wednesday, the company announced that Uniqlo will continue its U.S. expansion strategy by opening two new mall locations in New York.
The company has raised its annual profit forecast.
Redmond, Wash. -- Microsoft announced that J.C. Penney is rolling out Microsoft Office 365 as part of its effort to simplify and modernize technology solutions.
Philadelphia -- Destination Maternity Corp. said it is opening its first Destination Maternity store in Canada on Thursday in Calgary, Alberta, at the Kingsland Village retail development.
The store will debut its A Pea in the Pod brand in Canada.
New York -- Modell’s Sporting Goods said Wednesday it has named Charles Castaneda chief merchandising officer for the chain, a promotion from his current position of EVP planning and allocations.
The company has also moved Jay O’Brien from general merchandising manager of footwear to general merchandising manager of sporting goods, to succeed the recently departed Bill Hackett.
Jeff Schaffer has been promoted to general merchandising manager of footwear.
