REAL ESTATE

Vietnamese restaurant signs lease at Five Points

BY CSA STAFF

Santa Barbara, Calif. Regency Centers announced that it has leased space in Five Points Shopping Center in Santa Barbara to Saigon In & Out Vietnamese Restaurant.

The restaurant has leased 3,000 sq. ft. and is slated to open this summer.

The 144,553-sq.-ft. Five Points center is anchored by Ross Dress for Less, Albertsons and Longs Drug Stores, along with retailers including Petco, Great Earth Vitamins, Starbucks, Massage Envy and Cingular Wireless.

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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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