OPERATIONS

Couche-Tard buys 322 Exxon Mobile sites in California

BY Marianne Wilson

Laval, Quebec — Alimentation Couche-Tard, parent of Circle K Stores, has signed an agreement to acquire up to 322 sites, plus an additional 65 reseller contracts, in Southern California, from ExxonMobil Corp. The purchase price was not disclosed.

“These stores are high volume, high impact locations,” Tim Tourek, Couche-Tard’s VP of operations for the west coast division, said in a statement. “They would significantly strengthen our overall footprint in this important market.”

Once the deal is complete, Couche-Tard will have 543 company-operated and reseller-operated stores on West Coast, nearly doubling its current stable of 315 Circle-K branded sites.

The company-operated sites would be operated under the Circle K brand and the entire network would be part of Couche-Tard’s West Coast Division network. The dealer-operated locations would continue to be operated by current dealers.

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REAL ESTATE

REI to open first Indiana store

BY Staff Writer

Seattle — REI (Recreational Equipment, Inc.) will open a store in Indianapolis, Ind. at the Plaza at Castleton next spring.

The approximately 23,800-sq.-ft, store will be the outdoor goods and apparel retailer’s first location in Indiana, and will include a bike shop for quick assemblies and repairs, a seasonal gear rental department, and a community space that will allow REI and its local partners to host classes, presentations and events to educate customers and members on a variety of outdoor topics.

REI currently operates 117 retail stores in 28 states.

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REAL ESTATE

Bass Pro Shops signs on for The Point, new mixed used development center in New Jersey

BY Marianne Wilson

King of Prussia, Pa. — O’Neill Properties Group announced that Bass Pro Shops has signed a letter of intent for a 200,000-sq.-ft. store at The Point, in Sayreville, N.J., one of the largest new mixed use developments in the United States.

When completed, the Point will encompass 8 million sq. ft., and include a 3 million-sq.-ft. mall and entertainment district with luxury retail, waterfront and recreation destinations, high-end residential units, high-end hotels and two luxury marinas.

It will also feature waterfront dining, a community center, bike trails, walking paths, and abundant green and open space including a waterfront promenade. The estimated development cost for the project is approximately $2 billion.

“The Point will be a pedestrian friendly community providing visitors and residents alike with a lifestyle experience unequaled in the Tri-State area,” stated Brian O’Neill, founder and chairman of O’Neill Properties Group. “Moreover, it will generate thousands of jobs and millions of dollars in new tax revenue.”

The Landing at The Point, the first phase of the project’s development, will be a 620,000-sq-ft. high-end multi-purpose retail center that will include several big-box stores, a supermarket, health club and entertainment destinations. The first retail tenant is expected onsite in 2013.

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