REAL ESTATE

Nordstrom Rack will open in Manchester, Mo.

BY Staff Writer

Seattle — Nordstorm plans to open a Nordstrom Rack in Manchester, Mo., a suburb of St. Louis.

The new 35,000-sq.-ft. store is scheduled to open in fall 2012. Construction of the store will begin immediately, according to Mark Sedgwick, managing director of St. Louis-based Pace Properties, L.L.C., which will develop and own the building where Nordstrom Rack will be located.

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REAL ESTATE

7-Eleven to acquire 28 Pacific Convenience locations, will remodel/rebrand all

BY Katherine Boccaccio

Dallas — 7-Eleven is acquiring the retail interests of 28 locations owned by Pacific Convenience & Fuels LLC.

The acquisition includes sites in California, Oregon, Washington and Colorado, and is slated to close in fourth quarter 2011. Terms of the transaction have not been disclosed.

All of the locations will be rebranded as 7-Eleven and will retain the Conoco-Phillips/76 gasoline brands.

"This is a strategic acquisition for us, increasing our store footprint in several of our most successful markets," said Sean Duffy, 7-Eleven VP mergers and acquisitions. "Year to date, 7-Eleven has added more than 400 new locations, and 2011 promises to be 7-Eleven’s biggest year for store growth since 1986."

7-Eleven said it will remodel and rebrand the locations, with the bulk of the work anticipated to be completed by the end of 2012. Approximately 15 stores will require only interior and imaging changes, which should be completed by the end of the year, while the balance will undergo more extensive remodeling. All stores will be available for franchise.

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REAL ESTATE

Aaron’s selects Lucernex for store life cycle management solution

BY Staff Writer

Dallas — Lucernex Technologies said Tuesday that Aaron’s has selected Lucernex’s Lx Retail to manage its 1,895 stores in 48 states and Canada.

“After evaluating our operational requirements, we realized that we needed more than just a replacement for our legacy lease administration system. We needed an integrated approach to managing our real estate. Lucernex offers a solution that will allow us to manage the entire store life cycle in one database and on one platform,” said VP real estate, Paul Doize.

Lucernex, which integrates with Buxton for site selection and market analysis, supports project management, lease administration and rent accounting capabilities.

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