Discount Store

Bismarck, N.D. -- Chattanooga, Tenn.-based CBL & Associates Properties announced Thursday that it plans to acquire Kirkwood Mall, located in Bismarck, N.D., from Radiant Partners.

MINNEAPOLIS — In a move that will reunite all Albertsons stores under one operator, Supervalu on Thursday morning announced a definitive agreement under which it will sell 877 stores across the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies to AB Acquisition, an affiliate of Cerberus Capital Management, in a transaction valued at $3.3 billion.

Newington, Conn. -- Cohen Real Estate said Thursday that it has brokered the sale of Newington Fair Shopping Center for $17.5 million to Inland Diversified Real Estate.

The property is a 100 % occupied, 187,000-sq.-ft. power center located in the community of Newington, and is anchored by a 135,000-sq.-ft. Sam’s Wholesale Club and a 52,000-sq.-ft. L.A. Fitness.

The seller is a Houston-based developer, owner and manager of single and multi-tenant retail properties.

New York -- Modell’s Sporting Goods said Wednesday it has named Charles Castaneda chief merchandising officer for the chain, a promotion from his current position of EVP planning and allocations.

The company has also moved Jay O’Brien from general merchandising manager of footwear to general merchandising manager of sporting goods, to succeed the recently departed Bill Hackett.  

Jeff Schaffer has been promoted to general merchandising manager of footwear.

New York -- According to multiple reports on Thursday, congressmen Henry Waxman (D-Rep., Calif.) and Elijah Cummings (D-Rep. Md.) have said that Wal-Mart Stores CEO Mike Duke and other senior-level officials at the retailer were informed about allegations of bribery in the retailer’s operations in Mexico in 2005.

The two congressmen cited documentation obtained by their staffs, which discussed allegations of corruption regarding a store in Teotihuacan.

Seattle -- Nordstrom announced plans to open two new Nordstrom Rack stores, with one in Atlanta, at the Perimeter Expo shopping center, which is owned by Kimco Realty Corp., and the other in Naples, Fla., at The Mercato.

The 36,000-sq,-ft. Atlanta store is scheduled to open in fall 2013. The 30,000-sq.-ft. Naples store is scheduled to open in fall 2013.

HOFFMAN ESTATES, Ill. — Select Kmart locations will carry apparel and accessories collections developed by pop superstars Adam Levine and Nicki Minaj in an effort to boost sales. Both collections will also be available via the ShopYourWay.com social shopping platform.

Abilene, Kansas -- ALCO Stores and Revionics Inc. announced a multi-year partnership, which will support optimal pricing decisions throughout ALCO’s 217 stores.

Revionics Life Cycle Price Optimization solutions and Analytic Solutions will enable ALCO to design and execute regional, localized pricing initiatives, timing of markdowns, promotional pricing and analysis of customer market baskets and key volume items.