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Convenience Stores

  • SRS Real Estate hires Chicago co-market leader

    Dallas -- SRS Real Estate Partners has named Kevin Boyd as senior VP and co-market leader in the Chicago office. Experienced with local, regional, and national retailers, he will focus on tenant representation while jointly leading the Chicago team.

  • Walmart Canada to open 29 supercenters; expand DC network to support e-commerce growth

    Mississauga, Canada – Wal-Mart Stores Inc. is reportedly expanding its Canadian operation, even as chief rival Target is exiting the country after spending $4 billion in an effort to open stores there. According to the Wall Street Journal, Wal-Mart plans to spend $270 million on building 29 new Canadian supercenters and an expanded distribution network to support them.

  • Next Realty acquires Shops at Flint Creek from Hamilton Partners

    Chicago -- Transwestern’s Chicago office has brokered the sale of The Shops at Flint Creek. Located at 500 N. Hough St. in Barrington, Illinois, the 59,325-sq.-ft. center was developed in 2006 by Hamilton Partners. Next Realty LLC purchased the Heinen’s grocery store-anchored center for an undisclosed amount.

    In addition to Heinen’s, tenants include Meatheads, Alexian Brothers Health System, Coldwell Banker, Athletico and Scottrade.

  • Whole Foods Market continues expansion in Western Canada

    Bellevue, Wash. -- Whole Foods Market announced its plans for continued expansion in Western Canada with three new locations: Greater Victoria, British Columbia; Edmonton, Alberta; and Calgary, Alberta.

  • Study: Men shopping for groceries more

    Seattle - Increasingly, men (who now compose 43% of primary shoppers) are shopping frequently for groceries and they now make just as many monthly grocery store visits as women. According to “Food Shopping in America 2014,” a study from MSLGroup and The Hartman Group, on average, U.S. grocery buyers shop three channels per week, including visits to grocery, specialty, mass merchandise, club, convenience, dollar and online stores.

  • CVS Health delivers strong performance in Q4 and full year

    Woonsocket, R.I. – CVS Health Corp. showed vitality with its financial performance in the fourth quarter and fiscal year 2014. Net income for the fourth quarter grew 5% to $1.32 billion from $1.26 billion.

  • CVS Health improving after quitting smoking

    Discontinuing tobacco sales a year ago may have been the right thing to do for CVS Health, but the company’s fourth quarter results offer other retailers contemplating a similar move a glimpse of the short term impact on sales.

    Non-pharmacy front of store same store sales at CVS Health locations declined 7.2% during the fourth quarter but would have registered a slight increase were it not for an 800 basis point negative impact associated with lost sale of tobacco and related products.

  • Dollar Tree arranges financing for Family Dollar purchase

    Chesapeake, Va. - Dollar Tree Inc. is arranging financing for its pending acquisition of Family Dollar Stores Inc. To that end, Dollar Tree has priced a private offering of $$2.5 billion of senior notes due 2023 and $750 million of senior notes due 2020. The 2023 notes will bear an annual interest rate of 5.75% and the 2020 notes will bear an annual interest rate of 5.25%.

    Dollar Tree has also arranged for a $1 billion term loan with interest of LIBOR plus 2.25% and a $3.95 billion term loan with interest of LIBOR (subject to a 0.75% floor) plus 3.5%.

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