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Convenience Stores

  • Milan Capital buys Simi Valley shopping center

    Simi Valley, Calif. — Milan Capital Management has acquired the Smart & Final Center in Simi Valley, Calif., for $16.9 million — $170 per square foot Marcus & Millichap Real Estate Investment Services represented Milan Capital and the seller, who had owned the property for 45 years.

  • Four retailers ink leases for Virginia locations

    Virginia Beach, Va. — Dollar General, Lily’s As Seen on TV, Sunrise Pizzeria and General Nutrition Corporation have all signed leases for retail space in Virginia, according to Divaris Real Estate, which represented the shopping centers in the transactions.

    Dollar General renewed its lease for 6,720 sq. ft. in the Divaris-leased and –managed Glenwood Shoppes in Norfolk.

  • Urcelay named chairman at Toys “R” Us

    Antonio Urcelay has replaced Gerald Storch as chairman of Toys “R” Us and the retailer also named Richard Markee to its board.

  • Konover South buys back Florida retail portfolio

    Deerfield Beach, Fla. — Konover South has bought back a portfolio of nine Florida retail shopping centers valued at more than $100 million. Konover had previously sold a share of the portfolio to an institutional investment partner. The buy-back returns complete ownership to Konover, which developed or redeveloped the properties over the years.

    Peoples United Bank provided $75 million of new permanent financing for the transaction.

  • Retail Store of the Year Design Competition early bird rate ends on Nov. 29

    New York — The early bird rate for Chain Store Age's 32nd annual Retail Store of the Year design competition ends on Nov. 29. Retailers, design firms, architects and suppliers are invited to submit entries for the competition, whose regular deadline for submission is December 23, 2013.

  • Stater Bros. Markets in executive promotion

    San Bernardino, Calif. -- Stater Bros. Markets has announced the promotion of David Harris to the position of executive VP finance, CFO and principal accounting officer of Stater Bros. Markets, effective Nov. 25.
     
    Harris joined Stater Bros. in 2009 as VP finance. In June 2011 he was promoted to senior VP finance, and in 2012 he was promoted to senior VP finance, CFO and principal accounting officer.

    Harris reports to Jack H. Brown, chairman of the board and CEO.

  • Report: N.Y. appeals court says Starbucks baristas must share tips

    Seattle – The Second Circuit U.S. Court of Appeals in New York has reportedly ruled that Starbucks baristas must share their tips with supervisors. According to the Associated Press, the ruling supports a lower court finding that baristas at Starbucks must share tips with shift supervisors, since the supervisors do much of the same work as the baristas.

  • Fresh Market stays focused on growth strategy

    The Fresh Market experienced an unanticipated sales slowdown across its store base, which it attributes to changing economic conditions and softening consumer confidence. Despite the slowdown, the company’s comparable-store sales grew and its gross margin expanded.

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