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Oak-St-Health
Company newsIllinoisNewsRhode Island

CVS Agrees to Acquire Oak Street Health in $10.6 Billion Deal

by Hayden Spiess

Woonsocket, R.I. and Chicago — CVS Health (NYSE: CVS) has agreed to acquire Oak Street Health (NYSE: OSH) in an all-cash transaction at $39 per share, representing a total purchase price of roughly $10.6 billion. The price represents a premium of approximately 11.9 percent over Oak Street’s opening price per share this morning. Chicago-based Oak Street Health is a network of primary care centers for adults on Medicare. The company employs approximately 600 primary care providers and maintains 169 medical centers across 21 states. By 2026, Oak Street Health plans …

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Ken-Hinkle
Company newsIllinoisNews

Ken Hinkle Joins Cullinan Properties as Vice President of Leasing

by Hayden Spiess

Peoria, Ill. — Ken Hinkle has joined Cullinan Properties, taking on the role of vice president of leasing. Based in Atlanta, Hinkle previously held senior positions with Kite Realty, Retail Properties of America, Simon Property Group and Federated Department Store. In his most recent position, Hinkle was responsible for the leasing of up to 4.8 million square feet. “Ken is a dynamic leasing professional who succeeds in every market he is in,” says Ann Smith, senior vice president and director of leasing and marketing. “At Cullinan, he will provide leadership …

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Sams-Club_Fayetteville
ArkansasCompany newsFloridaNews

Sam’s Club to Open More Than 30 New Stores, Five Fulfillment Centers in the United States

by Hayden Spiess

Bentonville, Ark. — Sam’s Club, a division of Walmart Inc., plans to open more than 30 new locations across the United States over the next several years. The first store, which is planned for an undisclosed Florida city, is scheduled to open in 2024. The new clubs will span approximately 160,000 square feet, which is larger than most current locations. Most new stores will feature a seafood/sushi island, full-service floral shop and walk-in dairy and fresh coolers, as well as a larger healthcare space featuring a patient waiting area, health …

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Company newsNewsWashington

SRS Opens Pacific Northwest Office in Metro Portland

by Hayden Spiess

Vancouver, Wash. — SRS Real Estate Partners has opened a Pacific Northwest office in Vancouver, approximately 10 miles north of Portland. Matt Martinez will lead the team, which will also include Candice Kelly, Raleigh Lau, Kim Phan, Dok Barley and Lindsay Garcia. “Reentering the market with a well-established team will gives us the ability to quickly respond to the needs of our clients in the region,” says Chris Maguire, chief executive officer of SRS.

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CaliforniaCompany newsInvestment salesNews

RealSource Group Brokers Single-Tenant Car Wash Sales Totaling $100 Million

by Hayden Spiess

Newport Beach, Calif. — RealSource Group brokered sales of single-tenant express car wash properties totaling over $100 million last year. The transactions represented a mix of sale-leasebacks, built-to-suits/presales and ground leases across four brands. Properties included in the sales were located across eight states in the Midwest, South and Southeast. “Private individual buyers have become increasingly familiar and comfortable with this asset type for long-term investment and were eager to take advantage of the 100 percent bonus depreciation benefits in 2022, before the depreciation amount was reduced to 80 percent …

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party-city
Company newsFinanceNew JerseyNews

Party City Files for Chapter 11 Bankruptcy

by Hayden Spiess

Woodcliff Lake, N.J. — Party City Holdco Inc. (NYSE: PRTY) has filed for Chapter 11 bankruptcy. The restructuring process is expected to substantially reduce the company’s debt and optimize its capital structure and liquidity. The company expects to complete the restructuring process in the second quarter of this year. Party City’s more than 800 stores will remain open during the bankruptcy process. The company says it will continue to advance its key initiatives underway, such as converting stores to next-generation prototypes, evolving Halloween City pop-up stores, building out its online …

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CaliforniaColoradoCompany newsKansasNewsOklahomaTexas

Palm Beach Tan Expands with At the Beach Acquisition

by Hayden Spiess

Irving, Texas — Palm Beach Tan Inc. has acquired tanning chain At the Beach, which comprises 58 salons across Oklahoma, Kansas, Southern California and Colorado. The stores will be operated by franchise entities Bronze Body LLC, Old Trinity Partners LLC and West Coast Tanning. Existing At the Beach customer accounts, memberships, sessions, credits and packages will be transferred to Palm Beach Tan, and all At the Beach employees have been offered positions with Palm Beach. This acquisition brings Palm Beach Tan’s total portfolio to 650 franchised and company-owned locations across …

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Company newsNewsOhio

Bath & Body Works Appoints Heather Hollander Vice President, Investor Relations

by Hayden Spiess

Columbus, Ohio — Bath & Body Works Inc. has announced that Heather Hollander will assume the role of vice president of investor relations with the company. Hollander most recently acted as head of investor relations at Nordstrom and has previously worked with brands including Lowe’s, Bloomin’ Brands and Burger King. Reporting to Wendy Arlin, chief financial officer, Hollander will be responsible for engagement with shareholders, investors and the analyst community.

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Company newsDevelopmentLeasingNew YorkNews

Barnes & Noble to Open 30 New Stores in 2023

by Hayden Spiess

New York City — Barnes & Noble will open more than 30 new stores next year, the company has announced. A location at Atlantic Avenue in Brooklyn is scheduled to be the first of the new bookstores in 2023.  In 2022, the company opened more new locations than it had in any year since 2009. Barnes & Noble attributes the growth to a “reading renaissance.”

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Publix_Kentucky
Company newsDevelopmentKentuckyNews

Publix Buys Land in Louisville, Plans to Develop Market’s Third Grocery Store

by Hayden Spiess

Louisville, Ky. — Publix Super Markets has purchased land at the northwest corner of Flat Rock and Shelbyville roads in Louisville with plans to develop the market’s third Publix location. The Courier-Journalreports that the grocer purchased the site from an entity doing business as Shoppes at Gardiner Park LLC for more than $5.5 million. Plans call for a 48,387-square-foot store with a pharmacy and an adjacent Publix Liquors store that will offer beer, wine and spirits. The stores are anticipated to open in the second quarter of 2024. In addition …

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