Combined Properties names legal exec
Washington, D.C. — Combined Properties announced that Jessica Berets has joined the company as Assistant General Counsel.
Berets will be responsible for drafting, negotiating and consummating a variety of legal documents, including lease agreements with tenants in the commercial retail real estate portfolio managed by Combined Properties, and providing advice and counsel to the company’s leasing, construction and property management departments.
Cinemark to open new 14-screen theater at Presidio Junction
Fort Worth, Texas — The Weitzman Group/Cencor Realty Services announced that Cinemark Holdings will construct a 14-screen, all-digital movie theater that will feature the company’s new Cinemark NextGen design concept.
Cinemark has entered into an agreement to purchase 10 acres in Presidio Junction, a 300-acre master-planned mixed-use development of LNR Property LLC, located eight miles north of downtown Fort Worth, Texas.
Slated to open in summer 2012, the new Cinemark NextGen theater will offer stadium-seated auditoriums with state-of-the-art viewing environments, as well as the Cinemark XD Extreme Digital Cinema auditorium.
Report: Wal-Mart details China plans
New York City — Wal-Mart Stores plans to expand its presence in the smaller cities of China, Ed Chan, CEO and president of the company’s China operations, said today at an investor meeting by video conference, Bloomberg reported.
The discounter may also buy more land to build stores in China, which it predicted will be the world’s largest grocery market by 2014, according to the report. Wal-Mart is building its seventh Sam’s Club outlet in the northeastern port city of Dalian, on the first plot of land it bought in the country.