REAL ESTATE

South Bay continues development

BY CSA STAFF

Carson, Calif. The Boulevards at South Bay reported that it will begin a new site-remediation phase in June, marking the continuation of development on the 168-acre former landfill in Carson, Calif.

Pasadena, Calif-based Tetra Tech, which is overseeing the design, construction and operation of the remedial systems, has submitted permit applications to the Air Quality Management District for the landfill gas and treatment components that have already received preliminary design approval by the Department of Toxic Substances Control. Approval will clear the way for installation of the gas treatment system, the gas collection and extraction wells system and the gas condensate collection and treatment system, all of which are required systems to mitigate environmental risks when redeveloping a former landfill.

The mixed-use project, which is being developed by Newport Beach, Calif.-based developers LNR Property Corp. and Hopkins Real Estate Group, will encompass more than 1 million sq. ft. of retail space, up to 1,550 residential units and 300 hotel rooms when it is completed in early 2012.

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A&P 4Q loss widens

BY CSA STAFF

MONTVALE, N.J. A&P reported a loss from continuing operations of $83.4 million for the fourth quarter, compared with a loss of $44.6 million for the same period last year.

Sales for the fourth quarter were $2.3 billion, compared with $2.2 billion in the prior year’s fourth quarter. Comparable-store sales decreased 1.3% during the comparable 13-week period.

Christian Haub, executive chairman of the board, said, “The current challenging economic environment has clearly impacted our business, as it has all in our industry. That being said, A&P has continued to make progress on many fronts and we have plenty of reasons to be optimistic for the future of our company, including good performance in our Fresh, Gourmet and Discount businesses and the realization of target synergies from the Pathmark acquisition.

“We are also confident that, similar to the improvements we have accomplished in the core A&P business, the initiatives we have recently enacted will improve the overall Pathmark business.

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Industry veteran joins ProBuild board

BY CSA STAFF

ProBuild Holdings, the nation’s largest pro dealer, has announced the election of Carl Hedlund to its board of directors. Hedlund, who retired as president of Therma-Tru in 2007, will serve as a member of the board’s compensation committee.

Prior to Therma-Tru, Hedlund spent 28 years with Owens Corning in a variety of leadership positions, both in the fiberglass building materials and the composite businesses, including president of the roofing and asphalt division and president of the retail distribution division. 

Internationally, Hedlund served as president of the Asia/Pacific and Hong Kong business, as well as president of the international building materials business in Belgium.

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