Miami, Fla. — Pacific Star Capital has appointed Wright Sigmund as principal. In his new role, Sigmund will lead the Miami-based company’s operations and the overall growth of the firm as it focuses on expanding its portfolio of essential-tenant focused developments. Sigmund previously worked with First Washington Realty Inc. as senior vice president and national director of leasing.
Elmsford, N.Y. — DLC Management Corp has named Aaron Wu vice president and head of acquisitions. In his new role, Wu will lead the company’s acquisitions platform by exploring ways to create growth for the portfolio and collaborating with others to establish strategic investments. Prior to joining DLC, Wu most recently served as managing director and head of acquisitions for AmCap Incorporated.
Upland, Calif. — Lewis Retail Centers, an Upland, California-based shopping center developer, has promoted Ken Caron to the position of senior vice president of commercial development. In his new role, Caron will be responsible for directing all activities related to retail development including entitlements, construction, leasing, marketing and property management. Caron joined Lewis Retail Centers after working with The Carrington Co. as vice president of leasing, acquisitions and development. He has worked for Lewis Retail Centers for more than 20 years and has held leadership roles within the firm’s development …
San Diego and Lake Forest, Calif. — Jack in the Box Inc. (NASDAQ: JACK) and Del Taco Restaurants (NASDAQ: TACO) have entered into a merger agreement valued at approximately $575 million, inclusive of existing debt. Under the terms of the agreement, Jack in the Box will acquire Del Taco for $12.51 per share in cash. The deal, which is expected to close in the first quarter of 2022, would yield a company with more than 2,800 restaurants across 25 states. In addition, the new entity plans to grow its store …
Goodlettsville, Tenn. — Dollar General (NYSE: DG) has unveiled plans to open approximately 1,000 new Popshelf stores by the end of fiscal year 2025, including roughly 100 stores in fiscal year 2022. Each Popshelf store spans approximately 9,000 square feet and offers seasonal and home décor, health and beauty products, cleaning supplies and party goods. The target customer is primarily female, lives in the suburbs and maintains an annual household income ranging from $50,000 to $125,000, according to the retailer. Dollar General, which is based in Goodlettsville near Nashville, debuted …
Woonsocket, R.I. — CVS Health Corp. (NYSE: CVS) plans to close about 900 stores over the next three years, or about 300 stores a year, starting in the spring of 2022. The pharmacy retailer says the decision to close its stores was in order to focus more on its digital strategy. The store closures equal about 9 percent of the approximately 10,000 locations that the retailer currently operates. CVS says it will help those who lose their jobs as a result of the store closures to find a different role …
Bentonville, Ark. — Walmart Inc. (NYSE:WMT) posted growth in earnings during its fiscal third quarter of 2021, which ended Oct. 31. Walmart’s total revenue was $140.5 billion, an increase of 4.3 percent from a year earlier when it was $134.7 billion. These numbers were also higher than Wall Street’s predictions of $135.6 billion, according to CNBC. According to Refinitiv, the discount retailer’s earnings per share were $1.45 adjusted versus $1.40 expected. Additionally, Walmart’s e-commerce sales increased 8 percent during the fiscal third quarter and 87 percent over a two-year period. …
Midland Park, N.J. — Kevin Pelio has joined Midland Park, New Jersey-based commercial real estate firm The Azarian Group as director of leasing. In his new position, Pelio will oversee and lead all aspects of portfolio leasing and strategy for the firm. Prior to rejoining The Azarian Group where he started his career in real estate in 2009, Pelio spent eight years with Simon Property Group, where he was responsible for the execution of inline and auxiliary leasing. Most recently, Pelio served as senior acquisitions and real estate manager for …
Cincinnati and Union, N.J. — Cincinnati-based The Kroger Co. and Union, New Jersey-based Bed Bath & Beyond Inc. have unveiled plans for a collaboration to directly offer Kroger customers the home and baby products carried by Bed Bath & Beyond. The products will be available on Kroger’s website as well as a small-scale, physical store pilot program at select Kroger stores beginning in 2022. The products will include bedding, storage, baby furniture and baby gear from both Bed Bath & Beyond and buybuy Baby.
Salisbury, N.C. — Food Lion has remodeled 87 stores across Georgia, Kentucky, North Carolina, South Carolina, Tennessee and Virginia for $127 million. The company’s recently unveiled new format offers a wider variety and assortment of goods across all departments; a greater number of natural, gluten-free and organic items; a larger variety of local craft beer and limited reserve wines; a bigger selection of easy and affordable meals for families; a wider variety of grab-and-go items and pre-sliced deli meats and cheeses; a larger selection of fresh produce and meat; a …
