Strategy

Salt Lake City -- On the heels of a new self-serve prototype, TCBY, announced an agreement with Lone Star Yogurt to open 200 stores over the next 10 years with area developer.

Lone Star Yogurt plans to open its first TCBY self-serve store in January in Lone Star’s hometown of Tyler, Texas. It has committed to open another 24 TCBY self-serve stores in East Texas, Dallas, Ft. Worth and Houston in the next 18 months.

Woonsocket, R.I. -- CVS Caremark said Larry Merlo will succeed Thomas M. Ryan as CEO on March 1 as part of its previously announced succession strategy.

The company had announced in May that Merlo would take the position as Ryan approaches retirement. Merlo is currently the president and COO.

Ryan will remain chairman of the board until he retires in May, at which point David Dorman will take that position. Dorman has been a director since 2006.

Dallas -- J.C. Penney on Monday unveiled a restructuring plan, which includes close five department stores and one home store, because they are no longer profitable enough. The retailer named William Ackman to its board after the activist investor became its biggest shareholder

By Rick Caccia, [email protected]

Boynton Beach, Fla. -- Indianapolis-based Simon Property Group said that Darren Shepherd has been named general manager of its Boynton Beach Mall property.

In his new position, Shepherd will be responsible for overseeing operations, customer relations, retail development and security for the mall.

New York City -- TF Cornerstone announced that it has inked a 10-year lease for approximately 3,500 sq. ft. with Brother Jimmy’s BBQ.

The company will be headquartered at 521 West Street at 95 Horatio Street, using the space to house the company’s corporate offices, commissary and catering facility.

Las Vegas -- Jacksonville, Fla.-based Regency Centers said it has leased 3,000 sq. ft. of retail space in Las Vegas, at Centennial Crossroads Plaza to Sprint.

The store is slated to open in June.

The 105,414-sq.-ft. shopping center is anchored by a 55,256-sq.-ft. Vons.

New York City -- Winick Realty Group LLC said that jewelry and accessory retailer Laila Rowe has leased its first downtown Manhattan location at 99 Wall Street, between Front Street and Water Street.

Laila Rowe currently has 17 retail stores on the East Coast.

The 520-sq.-ft. space is on the ground floor and includes a partial basement.

Princeton, N.J. -- NAI Global said it has named Art Carll as senior VP for the commercial real estate firm.

Carll previously served as the executive managing director of NAI Las Vegas and regional manager for the Western Region for NAI Global.

Carll will be focused on business development and service delivery with NAI Global’s Special Asset Solutions and Corporate Solutions groups in the West, as well as supporting NAI members throughout the Western region.

San Jose, Calif. -- Grubb & Ellis Co. announced that Robert Cook has joined the company as senior VP corporate services, based in the company’s San Jose office.