REAL ESTATE

Costco to make Louisiana debut

BY Katherine Boccaccio

New Orleans — Costco Wholesale Corp. will enter the state of Louisiana with a 148,000-sq.-ft. store at Carrollton Plaza Shopping Center in New Orleans.

The new lease, announced by center owner The Feil Organization, will add Costco to a lineup of retailers that includes CVS, Firestone, Family Dollar and Subway.

Costco is slated to open spring 2013.

"We are very excited about helping to bring Costco to New Orleans and contributing to the area’s revitalization,” said Jeffrey Feil, CEO, Feil Organization. "This lease represents a giant step forward for the existing and future retail establishments in New Orleans and will further boost confidence in the local market since hurricane Katrina in 2005.”

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Jan-21-2013 10:52 am

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OPERATIONS

AAFES names civilian as CEO

BY Staff Writer

Dallas — Three weeks after being named the first civilian director/CEO in the nearly 117-year history of the Army & Air Force Exchange Service, Tom Shull officially took the reins Thursday of the $10 billion military retailer. Shull replaced the Exchange’s last uniformed Commander, Brig. Gen. Fran Hendricks.

With the official signing of the paperwork, the Exchange has been disestablished as a major command and remains a joint nonappropriated fund instrumentality of the U.S. Army and the U.S. Air Force under the jurisdiction of the chief of staff of the U.S. Army and the chief of staff of the U.S. Air Force.

Shull served in a variety of positions in the U.S. Army, including infantry company commander and assignments at the White House and National Security Council. He has served as CEO of Wise Foods, Hanover Direct, Barney’s New York and was most recently CEO of Meridian Ventures.

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STORE SPACES

7-Eleven acquires 23 Texas c-stores; on target to open 630 stores in 2012

BY Katherine Boccaccio

Dallas — 7-Eleven said Thursday it has completed its previously announced transaction with convenience store operator Strasburger Enterprises and has acquired 23 c-stores in Texas, mostly under the Quix banner.

Terms of the deal, which brings 7-Eleven’s Texas store count to 570, weren’t disclosed.

"7-Eleven is continuing its accelerated growth, and this acquisition helps us meet the ambitious goals we have set," said Robbie Radant, 7-Eleven VP mergers and acquisitions. "We met our goal of opening more than 600 stores in the U.S. and Canada last year, and are on target to surpass that number in 2012 and reach our goal of 630."

7-Eleven said it will start remodeling and rebranding the locations soon, with the bulk of the work anticipated to be completed by the end of 2012. Stores will be available for franchise after they are remodeled.

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