Corporate Governance

New York -- According to multiple reports on Thursday, congressmen Henry Waxman (D-Rep., Calif.) and Elijah Cummings (D-Rep. Md.) have said that Wal-Mart Stores CEO Mike Duke and other senior-level officials at the retailer were informed about allegations of bribery in the retailer’s operations in Mexico in 2005.

The two congressmen cited documentation obtained by their staffs, which discussed allegations of corruption regarding a store in Teotihuacan.

New York -- Aeropostale Inc. reported Thursday that sales for the nine-week holiday selling period ended Dec. 29 fell 6% to $645 million. Same-store sales, including e-commerce, dropped 8%.

The retailer has cut its earnings guidance for the fourth quarter.

Miami Beach, Fla. -- Car Charging Group announced Thursday the expansion of its relationship with Walgreens by adding EV charging services to 11 Walgreens locations throughout Ohio in Akron, Canal Winchester, Columbus, Dayton, Franklin, North Canton, and Reynoldsburg.

In 2012, CarCharging launched the rollout of Walgreens EV charging services at eight locations in Kissimmee and Orlando, Fla.

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.

Farmington Hills, Mich. -- Agree Realty Corp. said Thursday it acquired a portfolio of four Applebee's restaurants, as well as an Advance Auto Parts in late December 2012 for about $10 million.

These latest acquisitions bring Agree’s 2012 total purchase activity to approximately $81.5 million.

The recently acquired Applebee's assets are located in Harlingen, Texas, and Wichita Falls, Texas, as well as two properties in Pensacola, Fla. The Advance Auto Parts is located on an outlot to a Walmart Supercenter in Lebanon, Va.

North Plainfield, N.J. -- A Thursday report by Levin Management Corp. found that leasing activity in New Jersey, New York and Pennsylvania improved in 2012.

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.

Newington, Conn. -- Cohen Real Estate said Thursday that it has brokered the sale of Newington Fair Shopping Center for $17.5 million to Inland Diversified Real Estate.

The property is a 100 % occupied, 187,000-sq.-ft. power center located in the community of Newington, and is anchored by a 135,000-sq.-ft. Sam’s Wholesale Club and a 52,000-sq.-ft. L.A. Fitness.

The seller is a Houston-based developer, owner and manager of single and multi-tenant retail properties.