Deerfield, Ill. — For investors in net leased drugstore properties, one key question resulting from Tuesday’s announcement that Walgreens Boots Alliance Inc. has agreed to acquire Rite Aid Corp. for $17.2 billion, including acquired net debt, is what effect will the transaction have on lease terms and cap rates?
Los Angeles — Fred C. Sands, founder of Fred Sands Realtors and Vintage Capital Group, died unexpectedly October 23 at the age of 77.
Nashville, Tenn. — Nashville-based Bridgestone Americas Inc. has announced that Pep Boys and Bridgestone Retail Operations LLC (BSRO), a wholly owned subsidiary of Bridgestone, have entered into a definitive merger agreement under which BSRO will acquire Pep Boys in an all-cash transaction for $15 per share, or approximately $835 million in aggregate equity value.
Delray Beach, Fla. — Founder and Patriarch of The Simon Konover Co. and Konover South passed away October 20 in Delray Beach at the age of 93.
Peoria, Ill. — Cullinan Properties Ltd. has named Vic Pildes senior vice president of development and anchor leasing.
Greensboro, N.C. — Biscuitville FRESH SOUTHERN has named Jim Metevier as president.
Charlotte, N.C. — Charlotte-based developer Crosland Southeast has named Bobby Speir as vice president of acquisitions.
Old Bridge, N.J. — Old Bridge-based R.J. Brunelli & Co. has announced the appointments of founder Richard Brunelli as chairman of the board; Ron DeLuca as chief executive officer; Danielle Brunelli-Albrecht as president; and Bill Lenaz as executive vice president of business development.
New York — Cushman & Wakefield and DTZ have successfully completed their merger.
Baltimore — Baltimore-based DDG has named Tony Van Vliet as president and CEO after the passing of former CEO Ahsin Rasheed.
