Convenience Stores

Sparks, Nev. -- BH Properties, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed real estate properties, has purchased Los Altos Crossing, a retail center located at Sparks Boulevard and Los Altos Parkway in Sparks, Nev., for $6 million.  

Burlington, Mass. -- KeyPoint Partners has completed the sale of West Plymouth Square in Plymouth, Mass., at a sale price of $7 million.  

Scottsdale, Ariz. -- GE Capital’s Franchise Finance business announced its first financing for the Corner Bakery Café brand. It  comes in the form of a $5.6 million loan to Texas-based MX Restaurants and Bakeries, which already operates seven Corner Bakery restaurants in the Houston and South Texas markets. MX will use these funds to pay off short-term debt related to a recent acquisition and to develop four additional units.  

Schaumburg, Ill. -- Motorola Solutions Inc. has unveiled the Symbol TC70 touch computer, an enterprise-class mobile computer running the Android KitKat operating system. Designed to boost efficiency and customer service in the retail, wholesale and manufacturing industries, the TC70 is supported by more than 50 certified applications including price and inventory checks, line busting, assisted selling, workforce management and inventory management.  

Queens, N.Y. -- Airport retail developer MarketPlace Development is opening new shops, restaurants and services as part of an overall plan to upgrade the Food & Shops program at Terminal B in LaGuardia Airport as planning continues on a new terminal.

CVS Health has confirmed a Wall Street Journal report that it is working to establish a tobacco-free pharmacy network and is looking for tobacco-free pharmacies to participate in the new offering.

As widely reported, CVS Health’s pharmacy locations are now officially tobacco-free as the company forges ahead on its mission to help shape the future of health care.

Beachwood, Ohio --DDR Corp. and an affiliate of Blackstone Real Estate Partners VII announced that a joint venture formed by the pair has closed on the acquisition of 71 shopping centers previously owned by American Realty Capital Properties for $1.93 billion.

Chicago -- More than 80% of shoppers visit three or more channels to carry out CPG shopping, according to IRI’s new Times & Trend report, “Channel Migration: The Road to Growth Has Many Lanes”.   

Cupertino, Calif. -- Apple announced that its mobile payments solution, Apple Pay, will be launched in the United States on Monday, October 20. CEO Tim Cook made the announcement Thursday at a media event at which he unveiled several new products, including updated versions of the iPad.   

Las Vegas -- Today’s convenience stores face growing pressure to evolve amid the ramped-up expectations of global consumers, according to remarks made by Joseph Bona, president of branded environments at brand agency and retail design consultancy CBX, and Dan Munford, managing firector of U.K.-based Insight, convenience and petroleum retail strategy specialists, at the National Association of Convenience Stores’ annual convention in Las Vegas.