Real Estate

KANSAS CITY, Kan. — Red Legacy, a commercial real estate developer for shopping centers, has hired Stacy Scheelk as its new senior director of new business development.

Scheelk is a shopping industry expert with a background in local, regional and national business development and marketing. She will be charged elevating and maximizing the potential of each development by fomenting partnerships, securing sponsorships, creating specialty retail and increasing ancillary income.

Cincinnati -- Cobb Theatres’ CineBistro will co-anchor Cincinnati’s 1.1 million-sq.-ft. Liberty Center with Dillard's, according to center developers Steiner + Associates and Bucksbaum Retail Properties. The developers plan to announce a third anchor in coming weeks.

CineBistro was recently named as “one of eight theatres redefining the movie-going experience” by Entertainment Weekly.

Seattle -- Outdoor retailer REI announced Thursday it will open two new stores in the spring, one in Flagstaff, Ariz., and the other in Columbus, Ohio.

Toronto -- Canada’s second-biggest supermarket operator has acquired Safeway’s Canadian portfolio of stores in a $5.7 billion deal that pulls the Pleasanton, Calif., chain completely out of the country.

Sobeys, a unit of Empire Co. Lt., has acquired 213 grocery stores, 62 fuel stations, 10 liquor stores, 12 manufacturing facilities and four DCs, leaving Safeway with 1,400 stores in the U.S. after the deal.

The Canadian retail landscape shifted again late Wednesday when Safeway announced the sale of its operations there to Sobeys Inc. for $5.8 billion.

The all cash deal will result in net proceeds to Safeway of about $2 billion which will be used to pay down debt. Sobey’s is a Canadian food retailer and a wholly owned subsidiary of Empire Company Limited. It is acquiring Safeway’s 223 store operation and 12 manufacturing facilities that last year generated sales of $6.7 billion in Canadian dollars and a $428 million operating profit.

Winston-Salem, N.C. – Krispy Kreme Doughnut Corporation has entered into a letter of intent with an affiliate of Sun Holdings, LLC for the sale of three company-owned shops in Dallas, and for Sun Holdings' further development of the Dallas market. The sale of the stores is subject to conditions, including the execution of a definitive asset purchase agreement and a development agreement pursuant to which Sun Holdings would undertake the further development of new Krispy Kreme shops in Dallas.