Corporate Governance

Fort Worth, Texas and Napa, Calif. — A joint venture of Trademark Property Co. and Zapolski Real Estate LLC, the $30 million Napa Center transformation started in September 2013 with upgrades to common areas. Changes include new energy-efficient roofing, paint and façade upgrades, new architectural elements, expanded and updated walkways, new seating areas, landscaping, ambient lighting and signage.

When the winning team cuts down the net after Monday night at the NCAA Men’s Championship game they will do so from atop a customer built nine foot Werner brand step ladder.

Atlanta -- Footwear retailer Shoe Carnival on April 6 will launch its first integrated national advertising campaign in support of the spring season. The campaign accompanies the brand’s U.S. expansion and debuts a new tagline, "A surprise in store."

Bentonville, Ark. – The Sam’s Club Giving Program is providing a $2.5 million grant to grow U.S. women-owned businesses and jumpstart job creation. Awarded to three non-profit organizations, the grant creates the WE Lend Initiative, a two-year investment in strengthening SBA-recognized Women’s Business Centers (WBCs).

Merrimack, N.H. -- Specialty retailer Brookstone Holdings Corp. has filed for Chapter 11 bankruptcy protection, with a plan to sell itself to Spencer Spirit Holdings, owner of the Spencer’s retail chain, for about $147 million. The purchase price comprises $120 million in cash, $7.5 million in new notes and about $18.5 million of assumed liabilities.

Under the agreement with Spencer Spirit, Brookstone would continue to operate its stores in malls and airports, along with its catalog, website and wholesale business, under the Brookstone brand.

Fredericton, Canada -- Plaza Retail REIT plans six new Canadian retail projects: four new re-developments and two new ground-up development projects. Four projects are located in Quebec, one in Atlantic Canada and one in Ontario.

In all, Plaza will be investing approximately $24 million for its share of these six new projects and will add approximately 155,000-sq.-ft. to its portfolio of retail properties (at Plaza's ownership percentage). The Ontario project and three Quebec projects are being developed with joint venture partners.

Pittsburgh – Dick’s Sporting Goods opens a relocated store at McCandless Crossing in Pittsburgh on April 13. The original store location at Northway Mall will be closing on April 8 to make way for the new, enhanced McCandless Crossing location.

The shift toward electronic payments has had the unintended consequence of hindering shoppers’ ability to donate to charitable causes at the point of sale, but not anymore.