Real Estate

CBL has named Alan Lebovitz senior VP of management to succeed Jerry Sink, who has retired after a 25-year career at the company. Lebovitz will oversee the staff and operations at the company’s 123 properties, a responsibility that encompasses some 300 employees and 77 million sq. ft. of retail.  

Amazon is once again expanding its distribution fleet — this time in the Beehive State.   The online giant will open an 855,000 sq. ft. fulfillment center in Salt Lake City — the company’s first warehouse in Utah. The facility, which will employ 1,500 full-time hourly associates, will pick, pack, and ship smaller customer items, such as books, electronics and toys.  

Amazon is once again bolstering its warehouse fleet in the Sunshine State.   The online giant will open an 850,000-sq.-ft. facility staffed with robots and more than 1,000 workers in South Florida. The depot will reside in a vacant property that is currently being transformed into a 97-acre commercial center adjoining the county’s Opa-locka airport, according to The Miami Herald.  

Camping World Holdings has given an update on its plans for Gander Mountain.   Camping World, which acquired the assets of Gander Mountain and boating division Overton's in a bankruptcy auction in May, said it plans to operate 57 locations — assuming details can be worked out with landlords and final acceptable leases agreed to. Liquidation sales started in May at all 160 Gander stores.   

The RoomPlace growing its store portfolio.   The family-owned company has opened a new showroom and warehouse distribution center in Indianapolis. The location is part of a strategic initiative to expand the furniture retailer's footprint in the city.   The new outpost also marks The RoomPlace's 25th store, with locations across Illinois and Indiana. It is one of the company's largest, at over 70,000 sq. ft. features a 16,000-sq.-ft. clearance center.   

Walgreens Boots Alliance has announced a new Rite Aid deal, effectively ending its nearly two-year quest to acquire the Camp Hill, Pa.-based drug store chain. The divestiture agreement with Fred's Pharmacy, whereby Fred's would buy 865 stores, is also terminated.  

Alimentation Couche-Tard has closed on the biggest transaction in its history.    The Canadian company announced that it has completed its $4.4 billion acquisition of CST Brands. The deal will add approximately 1,300 stores to the Couche-Tard portfolio, including 666 locations in Texas.   

With home remodeling and housing starts on the rise, The Tile Shop is in a sweet spot. The specialty retailer of manufactured and nature stone tiles, which reported a 8.8% increase in net sales and a 4.9% increase in same-store sales for its first quarter, displays its collections in a showroom-like environment that includes full-room tiled displays and a design studio where customers can utilize 3D renderings to visualize their design ideas.