OPERATIONS

Dollarama names new COO

BY Dan Berthiaume

Montreal — Dollarama Inc. has named Johanne Choinière as COO, effective May 12. In this role, Choinière will be responsible for overseeing retail store operations as well as logistics, distribution and supply chain management.

Since 1999, Choinière was employed at Metro Inc., where she held increasingly senior positions across the organization, including senior VP merchandising for Metro Ontario and, most recently, senior VP of Metro’s Ontario Division.

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REAL ESTATE

CBL’s long-term growth strategy

BY Michael Fickes

Chattanooga, Tenn. — In an April 11 conference call, CBL & Associates Properties provided an in-depth review of its business strategy, including a number of initiatives designed to enhance shareholder value.

On the conference call, the Company outlined the following goals and objectives through a slide presentation:

Position the portfolio to produce sustained same-center net operating income (NOI) growth of 2-4%, about double the current range of 1%-2%;

Increase the percentage of Mall NOI generated from tier 1 and tier 2 assets from 78% for 2013 to more than 90% over the next several years through divestitures of lower productivity assets and investments in higher growth assets;

Proactively take advantage of opportunities to upgrade both mall shop and anchor retailers through value-added redevelopment and ongoing re-tenanting;

Maintain and enhance the strength and flexibility of the company’s balance sheet including growing the quality and size of the unencumbered asset pool and further improving key financial metrics.

A copy of the slide presentation and a transcript of the prepared remarks will be filed with the SEC and available online at cblproperties.com.

A replay of the conference call will be available through May 6, by dialing (800) 633-8284 or (402) 977-9140 and entering the confirmation number, 21708955.

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REAL ESTATE

Divaris signs Tex-Mex restaurant, Red Wing Shoes

BY Michael Fickes

Richmond, Va. — Divaris Real Estate has announced the signing of two retail leases in the greater Richmond suburb of Midlothian.

Tex-Mex restaurant Chuy’s has leased 7,449 sq. ft. in the Village at Swift Creek in Midlothian. The Richmond office of DRE represented the landlord, Swift Creek Associates. This will be Chuy’s second Richmond location. Chuy’s will join Guitar Center, Babies “R” Us, TGIF, Red Lobster and Cracker Barrel in the development.

Red Wing Shoes has taken 4,800 sq. ft. in the DRE-leased and –managed Midlothian Crossing on the Midlothian Turnpike in Richmond. DRE represented the landlord, Midlothian Associates, in the transaction. Red Wing will join Big Lots, Goodwill and Family Dollar.

Divaris Real Estate, Inc. is headquartered in Virginia Beach, Va., with offices in Newport News, Norfolk, Richmond and Roanoke, Va.,; Charlotte, N.C.; and metropolitan Washington, DC.

Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.

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