Supply Chain & Merchandising

Lynchburg, Va. — Five Below has signed a 7,732-sq.-ft. lease at Wards Crossing West shopping center in Lynchburg, Va. It will be Five Below’s first store in the Lynchburg trade area.

Divaris Real Estate’s Richmond office represented Five Below in the transaction. DRE is the exclusive representative for Five Below in southwest Virginia.

Dallas — Shayan Holdings has purchased the 29,200-sq.-ft. Lebanon Ohio Center, an unanchored strip retail complex, in Frisco, Texas. The seller was LandPlan Development Corporation. The price was not disclosed.

The center is currently 90% occupied. Tenants include CrossFit Remedy and Arts and Technology Institute. CBRE’s Dallas office represented the seller in the transaction and conducted the financial analysis.

Petco EVP of merchandising Brad Weston has been given additional responsibilities to oversee the retailer’s small format concept branded as Unleashed.

Weston was named president of Unleashed by Petco to oversee strategy and operations of the fast growing 100 unit operation and will continue to lead the retailer’ merchandising organization. Weston joined Petco in 2011.

Oak Brook, Ill. — Inland Real Estate Income Trust has acquired two shopping centers in Texas, and Florida, in separate transactions: Mansfield Pointe Shopping Center in Mansfield, Texas, and North Hills Square Shopping Center in Coral Springs, Fla.

IREIT acquired the 148,529-sq.-ft. Mansfield Pointe for $28.4 million and the 63,829-sq.-ft. North Hills Square Shopping Center for $11.05 million.

Old Bridge, N.J. — Retail leasing specialists R.J. Brunelli & Co. has announced the promotion of Nick DeLuca to sales associate.

The Hillshire Brands Company has signed a definitive agreement to acquire Catterton portfolio company Van’s Natural Foods. Van’s is a leading better-for-you food brand of frozen breakfast and snack foods.

Hillshire Brands will pay $165 million for Van’s, which is expected to have net revenues of approximately $60 million in calendar year 2014. The transaction is expected to close in May 2014 pending regulatory clearance.

San Diego -- Petco today that Brad Weston, currently executive VP, chief merchandising officer, has been named president of the company’s small-format division, Unleashed by Petco. In this newly created and expanded role, Weston will drive all future strategy and operations for Unleashed by Petco, while continuing to lead merchandising for the Petco brand.

Seattle -- REI has committed to having all of its electricity from renewable sources. The retailer already has 26 solar electric systems generating clean power and a program designed to invest in energy efficiency. Now, REI is buying certified renewable energy certificates (RECs) as part of its strategy to green the energy that powers more than 130 stores, two distribution centers and its headquarters.