Dunwoody and Marietta, Ga. — Walmart has announced plans to close two stores located in metro Atlanta. A Walmart Supercenter in Dunwoody, Georgia, and Walmart Neighborhood Market in Marietta, Georgia, will close on July 12. According to a statement from the company, which operates 213 Walmart and Sam’s Clubs stores in the state, there are no additional closures planned at this time.
Culver City, Calif. and Austin, Texas — Sony Pictures Entertainment has acquired theater chain Alamo Drafthouse Cinema from Altamont Capital Partners, Fortress Investment Group and founder Tim League for an undisclosed price. Alamo Drafthouse was founded in 1997 in Austin, and has grown from a single mom-and-pop location to 35 cinemas across 25 metropolitan areas. The company is the seventh-largest theater chain in North America and was one of the pioneers of the in-theater elevated food and drink concept. Alamo Drafthouse will maintain its headquarters in Austin and will continue to …
Virginia Beach, Va. — Virginia Beach-based Divaris Group has acquired S.T. Burke Retail Partners, a retail tenant representation and corporate services company founded in 2014. As part of the acquisition, Sean Burke, founder of S.T. Burke, will join Divaris as principal, national retail markets and retail corporate services. Burke’s tenure in the field includes experience representing brands including Punch Bowl Social, Wagamama, Voicebox Karaoke, Paladar Latin Kitchen, Bomba Taco Bar, Tin Shop Restaurant Group, Gap, Banana Republic, Old Navy, DSW, Urban Outfitters, Anthropologie, Free People, Terrain, Carhartt and Paper Source. Burke …
Chesapeake, Va. — Dollar Tree Inc. (NASDAQ: DLTR) has announced a formal review of its Family Dollar business segment, including the possibility of selling, spinning off or otherwise disposing of the brand. In March, Dollar Tree announced the closure of 1,000 stores nationally, roughly 970 of which were underperforming Family Dollar stores. Additionally, Dollar Tree recently acquired designation rights for 170 former 99 Cents Only store leases. “Dollar Tree has been on a multi-year journey to help the company fully achieve its potential,” says Rick Dreiling, chairman and CEO of Dollar …
Lowell, Ind. — Tractor Supply Co. has opened its 500th Garden Center in Lowell, Indiana. The company began adding Garden Centers to new and existing stores in 2020, with the first opening in Rome, Georgia. Averaging 3,000 to 4,000 square feet, the centers offer additional sales space with a focus on live goods, including fruit trees, herbs, vegetables and season items. Founded more than 85 years ago, Tractor Supply Co.’s portfolio comprises 2,233 stores in 49 states.
Paris, France — Paris-based retail center owner and operator Unibail-Rodamco-Westfield (URW) and TOCA Football have announced a partnership to open multiple eatertainment venues throughout Europe. The first of the new TOCA Socials will open at Westfield London and Westfield CNIT in La Défense in Paris in 2025. The venues will occupy 37,620 and 25,833 square feet, respectively. The partnership will include additional, yet-to-be-announced locations. TOCA Social venues feature immersive soccer-based gaming, as well as food and beverages. In London, the brand currently operates at The O2.
Chesapeake, Va. — Dollar Tree Inc. has acquired designation rights for 170 leases of 99 Cents Only Stores, following the latter’s Chapter 11 bankruptcy filing. 99 Cents Only Stores filed for bankruptcy in April and is disposing of its assets — including inventory, owned real estate and store leases — as part of the process. Dollar Tree acquired the leases, as well as the North American intellectual property of 99 Cents and select onsite furniture, fixtures and equipment, in two separate transactions this month. “This was an attractive opportunity to secure …
Melville, N.Y. — New York-based A&G Real Estate Partners has announced plans to market 27 store leases in 12 states on behalf of music retailer Sam Ash Music Corp., which recently filed for Chapter 11 bankruptcy protection in New Jersey. Sam Ash’s total portfolio comprises 42 stores in 16 states, all of which will be closed while the company entertains buyer offers and completes its financial restructuring. Averaging 25,467 square feet, the lease sizes range from 6,000 to 44,000 square feet.
Kill Devil Hills, N.C. — Wawa Inc. has opened its first gas station and convenience store in the state of North Carolina. Located in Kill Devil Hills, the store is the first of 10 Wawa locations scheduled to open in the state by the end of 2024. Stores will be located in Rocky Mount, Elizabeth City, Greenville, Wilson and Goldsboro. Additionally, Wawa plans to open up to 11 stores in 2025, in counties including Robeson, Pitt, Cumberland, Onslow, Johnston, Nash, Pender, Brunswick and New Hanover. Over the next eight to 10 …
Orlando, Fla. — Red Lobster has voluntarily filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida. The Orlando-based seafood restaurant chain plans to sell its business to an entity formed and controlled by its existing lenders. Red Lobster, which was founded in 1968 and operates some 600 restaurants across North America, has received a $100 million debtor-in-possession financing commitment from its existing lenders to facilitate this plan. The company stated that it would use the financing and bankruptcy proceedings to drive operational improvements, …