Books-A-Million cleared to take over 14 Borders leases
New York City — A bankruptcy judge gave Books-A-Million the nod Monday to take over the leases of 14 Borders Group stores for just under $1 million.
The stores are located mostly on the East Coast, and Books-A-Million is expected to take over the leases effective Sept. 20.
Kroger stores to observe moment of silence on 9/11
Cincinnati — Kroger Co. will hold a moment of silence of September 11, 2011, in its 2,449 stores nationwide. Stores located in the Eastern Time zone will pause for a moment of silence to remember the victims and honor the heroes of the 9/11 tragedy at 8:46 a.m., the time when American Airlines Flight 11 struck the World Trade Center’s north tower ten years ago.
Because of the time difference, Kroger’s stores in Central, Mountain and Western Time zones will pause for a moment at a locally-designated time on Sunday morning.
"To commemorate the tenth anniversary of the 9/11 attacks, we will invite our customers and associates to join together in a moment of silent reflection in all of our supermarkets," said Dave Dillon, chairman and CEO of Kroger. "We also heard from many associates that they wanted to recognize the heroes in their communities during this time of national remembrance. Many of our stores will also say ‘thank you’ to our everyday heroes — the men and women who keep our families, communities and stores safe — through a variety of activities this September."
Cole acquires 11 PetSmart retail properties for $74 million
Phoenix — Cole Real Estate Investments said Monday that it has acquired a portfolio of 11 PetSmart retail properties for $74 million.
The approximately 300,000-sq.-ft. triple-net leased portfolio is located in primary markets in California, Florida, Illinois, Maryland, Massachusetts, Michigan and Texas. The 11 individual retail properties are leased to PetSmart, under one master lease, with an original 20-year lease term and approximately 10 years remaining, plus three automatic renewals for up to a total of 20 additional years.
In another recent transaction, Cole acquired the 356,000-sq.-ft. PetSmart corporate headquarters in Phoenix on Aug. 23.