REAL ESTATE

Two new tenants commit to Plaza Square

BY Staff Writer

Wayne, N.J. — Fameco Real Estate said that recently completed deals with Hand & Stone Massage and Facial Spa and C2 Education have brought Plaza Square in Wayne, N.J., to 98% occupancy.

The 103,000-sq.-ft. center is owned by Jacksonville, Fla.-based Regency Centers and is anchored by ShopRite, Bank of America, Dollar Power, Bensi Italian Restaurant and Wendy’s.

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REAL ESTATE

Fresh & Easy to close 12 stores

BY Marianne Wilson

New York City — Fresh & Easy Neighborhood Market, the U.S. division of Tesco, plans to close 12 underperforming stores, according to the Orange County Register. The company, however, left open the door to re-opening the stores at a later date.

"At this time, there is simply not enough growth in sales and customers at these stores to keep them open. We will close these stores over the coming weeks and we will re-open them when economic and business conditions warrant," said Fresh & Easy spokesman Brendan Wonnacott in the report.

Fresh & Easy is still planning to grow in areas where it makes sense, according to Wonnacott. The chain plans to open at least 24 more supermarkets on the West Coast, including four in Orange County.

Of the 12 Fresh & Easy stores to be shuttered, nine are in Southern California.

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OPERATIONS

J.C. Penney names chairman of the board

BY Staff Writer

Plano, Texas — J.C. Penney Co. announced Tuesday that Thomas J. Engibous will become chairman of its board of directors, effective Jan. 28.

Engibous was named to the board in 1999 and has served in presiding director and lead independent director roles since 2008. He will assume the chairman’s role from Myron E. (Mike) Ullman, III, J.C. Penney’s former CEO, who will step down as executive chairman.

Engibous is the retired chairman of Texas Instruments Inc.

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