REAL ESTATE

Sprouts to anchor Granada Village shopping center

BY CSA STAFF

Granada Hills, Calif. Jacksonville, Fla.-based Regency Centers announced Thursday that Sprouts Farmers Market will anchor the Granada Village shopping center, in Granada Hills, Calif., near Los Angeles.

Sprouts, based in Phoenix, leased 25,000 sq. ft. and is slated to open in fall 2011. To make way for the new Sprouts Farmers Market, the existing 21,440-sq.-ft. Rite Aid will be relocated to a 15,570-sq.-ft. end-cap location with a drive-through lane.

With the addition of Sprouts Farmers Market, Regency will renovate the center with a new exterior facade, upgraded architectural components, new pedestrian plaza, signage, and parking lot improvements. All retailers will remain open during the center upgrades which are scheduled to begin in winter 2010 and to be completed in fall 2011.

As part of the company’s “greengenuity” program for sustainable green building and development practices, the center will incorporate energy-efficient lighting, an underground storm water retention and treatment system and water-efficient landscaping. 

“We’ve incorporated sustainable elements in the project that can lower tenants’ operational costs through common area maintenance savings,” explained Heather Randall, Regency Centers’ VP and regional officer. “For example, upgrading the light fixtures will reduce common area energy use by 15 to 30%.” Portions of the project will pursue LEED Core-and-Shell certification.

The 224,648-sq.-ft. shopping center features a 35,000-sq.-ft. TJ Maxx, a 32,276-sq.-ft. Stein Mart alongside national retailers such as Sally Beauty Supply, The UPS Store, H&R Block, Burger King and RadioShack.

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Holley named Walmart CFO

BY CSA STAFF

BENTONVILLE, Ark. – Veteran finance executive Charles Holley was named to replace Tom Schoewe as CFO of Wal-Mart Stores Inc., the company announced late Wednesday. Holley joined Walmart in 1994 and most recently served as EVP finance and treasurer. Schoewe joined Walmart in 2000 as CFO.

Walmart CEO Mike Duke called Holley a talented strategist who thoroughly understands the details of Walmart’s business and the financial markets.

“As treasurer, he has helped drive the strategy behind the company’s strong financial position and has made every organization he has led stronger,” Duke said.

The change will take effect on Nov. 30, and Schoewe will remain with the company until Jan. 31, 2011.

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Beyonce’s mom gets exclusive line at Walmart

BY CSA STAFF

NEW YORK – Tina Knowles announced the introduction of her Miss Tina by Tina Knowles line exclusively at Walmart in October.

The collection will feature denim, graphic t-shirts, embellished tops, day dresses, tunics, jackets, leggings and track suits, with each item retailing for $20 or less.

Tina Knowles is the co-creative director and co-founder of the House of Dereon, Dereon, and Miss Tina fashion collections produced by Beyond Productions, a partnership with daughter Beyonce.

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