Cincinnati — Phillips Edison & Co. Inc. (PECO) has entered into a definitive merger agreement with Phillips Edison Grocery Center REIT II, a publicly traded REIT currently advised and managed by PECO.
Houston and Washington, D.C. — Retail developer Madison Marquette and Houston-based developer PMRG have confirmed that they plan to combine operations. The terms of the merger were not disclosed, but PMRG will become part of the family of companies owned by Capital Guidance, a global investment firm that owns Washington, D.C.-based Madison Marquette.
Chicago — Starwood Retail Partners has promoted Jonathan Kaplan to vice president of leasing.
Los Angeles — Australia-based QIC has expanded its senior leadership team, announcing several senior executive appointments in the United States and Australia.
New York City — Nine West Holdings Inc. has filed for bankruptcy after accumulating $1.6 billion in debt.
Park City, Utah — Park City-based PREP Property Group Inc. has appointed Numa Jerome as vice president of leasing.
Wayne, N.J. — Toys ‘R’ Us is taking the next step in what the Wayne-based retailer is calling an “orderly wind down” of it’s U.S. business.
Boise, Idaho — Boise-based grocery chain Albertsons Cos. has agreed to acquire Rite Aid Corp. (NYSE: RAD), one of the nation’s largest drugstore chains, for an undisclosed sum.
Denver — Chipotle Mexican Grill’s board of directors has appointed Brian Niccol as CEO and a member of the board, effective March 5, 2018. Niccol most recently served as CEO of Yum! Brands’ Taco Bell division.
Chattanooga, Tenn. — Chattanooga-based CBL Properties has promoted Mike Harrison to executive vice president of operations and Alan Lebovitz to executive vice president of management.