Trading Partners

Cleveland -- Forest City Realty Trust announced that its subsidiary, Nets Sports and Entertainment has completed the previously announced sale of its equity interests in both the Barclays Center arena and the Brooklyn Nets basketball team to Onexim Sports and Entertainment Holding USA. As previously disclosed, the transaction values the team at approximately $875 million and the arena at $825 million, inclusive of debt for each asset.

Salt Lake City -- Phillips Edison & Company announced it has promoted Scott Adair to VP of Community Partnerships, effective immediately. Adair, who previously served as assistant director of Property Management, will remain based in Salt Lake City.

In his new role, created as a result of the company’s Innovation Labs’ ‘Community Engagement Initiative,’ Adair is responsible for cultivating new and managing existing relationships with community leaders to build goodwill and advance business objectives.

Wal-Mart Stores has learned that TRC Capital Corporation has made an unsolicited “mini-tender” offer dated Jan. 20, 2016, the company announced Tuesday. TRC has offered to purchase up to 2 million shares of Walmart’s common stock at $59.88 per share. The offering price is approximately 4.3% below the closing price per share of Walmart’s common stock on Jan. 19, 2016, the last trading day before the commencement of the offer.

Walmart is not associated with TRC and recommends that shareholders reject this unsolicited offer.

Fort Worth, Texas -- Trademark Property Co. announced Phil Pearson has joined the firm as VP of leasing. A 30-year industry veteran, Pearson will help manage multiple leasing projects for Trademark. Pearson will work with potential tenants, development partners and construction representatives to coordinate the entire leasing process. He will create and maintain relationships with national retailers, restaurants, brokers and consultants.

The Grocery Manufacturers Association has recognized the CEO of Hy-Vee Inc. with a collaborative leadership award.

Randy Edeker, chairman, CEO and president of Hy-Vee, Inc. was honored ths month with the GMA 2016 Industry Collaboration Leadership Award. Hy-Vee operates 240 stores throughout eight predominantly Midwestern states.

After relinquishing the CEO role last year, Dollar General chairman Rick Dreiling will complete a previously announced leadership transition on Jan.

Macy’s announced that a Bloomingdale’s store will open in spring 2017 in Kuwait as part of the company’s strategic partnership with Al Tayer Group LLC.

This will be Bloomingdale’s second international location (the first opened in Dubai in 2010) and ahead of Macy’s and Bloomingdale’s stores scheduled to open in Abu Dhabi in 2018 – all in partnership with Al Tayer.

Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-sq.-ft. convenience and fuel center.