REAL ESTATE

Best Buy plans lifestyle center location

BY Katherine Boccaccio

El Paso, Texas — Best Buy Co. has signed a lease to open a 37,740-sq.-ft. store at The Fountains at Farah, a new power-lifestyle shopping center located in El Paso, Texas.

The shopping center, a Centergy Retail project, is under construction and planned to open in 600,000 sq. ft. in fall 2013.

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FINANCE

Energy company Valero to spin off $5 billion network of fuel stations

BY Staff Writer

San Antonio — A Tuesday report by Bloomberg said that Valery Energy Corp. has unveiled plans to sell or spin off its network of 1,000+ gas and diesel stations across the United States and Canada, valued at up to $5 billion.

CEO Bill Klesse told investors that the retail business generates $500 million in earnings annually. Spinning off the retail business is a move toward increasing shareholder returns. “As independent companies, both retail and the remaining business will be better-positioned to focus on their industry- specific strategies,” Klesse said in a statement.

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REAL ESTATE

Natural Grocers makes Arizona debut with Flagstaff opening

BY Staff Writer

Denver — National Grocers by Vitamin Cottage said Tuesday that its first Arizona store – in Flagstaff – has opened, and will be joined by two additional stores located in Sedona and Prescott.

The privately owned regional grocery chain, which operates 56 stores in 12 states, incorporated environmentally friendly elements into the Flagstaff store. Energy-efficient features include motion light sensors, 100% post-consumer content tiles, polished concrete flooring and commercial-grade LED lights. And the chain is 100% shopping bag free.

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