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Company newsHawaiiInvestment salesNews

Joint Venture to Acquire Alexander & Baldwin in $2.3 Billion Deal, Take Hawaiian Company Private

by Abby Cox

Honolulu — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc., a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week …

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Company newsDevelopmentNews

PB Development Selected as Master Developer for North River District in Fort Wayne, Indiana

by Abby Cox

Fort Wayne, Ind. — PB Development has been selected to serve as the master developer for North River District, a planned 29-acre mixed-use development in Fort Wayne. The site is anticipated to include a 160,000-square-foot sports and recreation facility, dubbed North River Fieldhouse, that will accommodate activities including basketball, soccer, volleyball, wrestling, cheerleading, pickleball, baseball and flag football. Affordable and market-rate housing options are also expected to be constructed at the property.

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Company newsNewsOhioRetailers

American Signature Files Voluntary Petitions for Chapter 11 Bankruptcy

by Abby Cox

Columbus, Ohio — Home furnishings retailer American Signature Inc. (ASI) has filed for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware. Based in Columbus, Ohio, American Signature was founded in 1948 and is the parent company to Value City Furniture and American Signature Furniture, which have more than 120 stores open across 17 states. ASI expects to enter into a stalking horse asset purchase agreement under which, subject to court approval, ASI Purchaser LLC will acquire substantially all of the company’s assets and assume certain …

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Company newsNewsOhio

Reports: Wendy’s to Close Hundreds of Stores in 2026

by Abby Cox

Dublin, Ohio — Dublin, Ohio-based fast food giant Wendy’s is planning to close hundreds of its U.S. stores next year as part of a broader effort to revive its home market. According to Wendy’s interim CEO Ken Cook during the company’s quarterly earnings call, Wendy’s is expected to close a “mid-single-digit percentage” of its 6,011 U.S. restaurants, which could approximate to about 300 stores. In its latest fiscal quarter, Wendy’s global sales were down 2.6 percent and sales at U.S. locations fell 4.7 percent. As reported by several media publications, such …

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Shoe Carnival
Company newsNewsSouth Carolina

Shoe Carnival to Change Name to Shoe Station Group

by Abby Cox

Fort Mill, S.C. — Shoe Carnival Inc.’s board of directors has unanimously voted to change the company’s corporate name to Shoe Station Group, subject to approval by shareholders at the company’s annual meeting in June 2026. The company expects more than 90 percent of its stores to operate as Shoe Station by the end of fiscal 2028, with the remaining locations being evaluated for re-naming, outlet repositioning or closure. The company has completed 100 store re-banners during fiscal 2025 and is on track for 51 percent of its portfolio to operate …

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Company newsInvestment salesNews

Denny’s Corp. to be Acquired for $620 Million

by Abby Cox

Spartanburg, S.C. and New York — Spartanburg, South Carolina-based Denny’s Corp., owner and operator of Denny’s Inc. and Keke’s Inc., has entered into a definitive agreement to be acquired by a group consisting of TriArtisan Capital Advisors LLC, Treville Capital Group and Yadav Enterprises Inc., in an all-cash transaction for $620 million. Upon completion of the transaction, Denny’s will become a privately held company and will no longer be listed on the Nasdaq. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions. Under the terms …

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Company newsDevelopmentNews

Food Lion Invests $484 Million to Upgrade 153 Stores Across the Carolinas

by Abby Cox

Salisbury, N.C. — Food Lion is investing $484 million to enhance the customer shopping experience with 153 remodeled stores. The stores were unveiled on Nov. 5 throughout the greater Charlotte, North Carolina, market. Founded in Salisbury, North Carolina, in 1957, Food Lion operates more than 1,100 stores throughout 10 Southeastern and Mid-Atlantic states. The omnichannel grocery retailer also prioritizes fighting food insecurity, donating nearly 13 million pounds of food across the Charlotte region to area food banks since 2024.

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Philip Voorhees to Join BISON Partners After 25-Year Career at CBRE

by Abby Cox

Irvine, Calif. — Philip Voorhees will join BISON Partners, a real estate operating company focused on retail properties, following his departure from CBRE at the end of the year after a 25-year tenure. Voorhees currently serves as vice chairman in CBRE’s Retail Capital Markets division, where his retail investment teams have completed more than 1,080 transactions totaling over $15 billion in value. Launched in 2022 by Brad Rable and Wil Smith, BISON Partners was established as a strategic venture to acquire and reposition retail shopping centers. The firm recently expanded its …

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CaliforniaCompany newsNews

Macy’s, TMG Partners Form Joint Venture for Potential Redevelopment of Flagship Store in San Francisco’s Union Square

by Abby Cox

San Francisco — Macy’s and TMG Partners have formed a joint venture to explore the potential redevelopment of the retailer’s flagship store on Union Square in San Francisco’s retail district. TMG will help Macy’s conduct a “strategic assessment” of the property to explore the viability of renovations and enhancements that will “align with the needs of today’s office workers, residents, visitors, retail and local businesses.” The Union Square location will remain open indefinitely. Further updates on plans and next steps for the Union Square site will be shared in the coming …

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Taco John's
Company newsDevelopmentMinnesotaNews

Taco John’s Signs Five-Unit Franchise Agreement in North Dakota

by Abby Cox

St. Louis Park, Minn. — Mexican quick-service restaurant Taco John’s has signed a franchise agreement to open five new units in North Dakota. The deal will bring five new units to Fargo, with the first scheduled to open by the end of the year, and the second following in early 2026. Entrepreneur Brett Itterman will own and operate the restaurants. Founded in 1969 in Cheyenne, Wyoming, Taco John’s operates and franchises nearly 350 restaurants across 22 states.

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