Westwood names DDR veteran to head finance
Westwood Financial hired away DDR’s finance chief, hailing the move as central to its evolution from a “real estate sponsor into a sophisticated real estate institution,” according to Co-CEO Randy Banchik.
New Executive VP Matt Lougee will facilitate financing for Westwood’s retail investments, oversee capital formation and investor relations, and negotiate joint ventures. Lougee spent the entirety of his career to date at DDR, departing the company as senior VP of finance.
“This new appointment will advance our long-term objective to grow our platform, refine our corporate strategy, and strengthen our capital relationships,” said co-CEO Joe Dykstra.
Milestone store opening for Dollar General
Dollar General is celebrating an important milestone.
The discounter has opened its 14,000th retail location. The store is located in Dauphin, Pa.
“Dollar General is excited to celebrate our company’s continued growth by celebrating our 14,000th store grand opening today,” said Todd Vasos, CEO, Dollar General. “For nearly 80 years, Dollar General has continually been focused on delivering everyday low prices, convenience and value to the communities we serve."
Dollar General employs approximately 5,700 employees in Pennsylvania through approximately 625 stores and its distribution center in Bethel (Berks County).
Upcoming store will be a first for Wegmans
Wegmans Food Markets is expanding its footprint with a new concept.
In a first for the 101-year-old grocer, Wegmans said it will open a two-level store, at Natick Mall, Natick, Mass., with direct access to the shopping center. The 134,000-sq.-ft. store will be located in a building that formerly housed one of the mall's anchors, J.C. Penney.
The new Wegmans, scheduled to open in spring 2018, will devote 12,500 sq. ft. on the second floor to two restaurant concepts. The grocer is seeking a complementary tenant for the 45,000-sq.-ft. third floor of the building.
The family-owned Wegmans operates 93-supermarkets across New York, Pennsylvania, New Jersey, Virginia, Maryland, and Massachusetts. The Natick location will be Wegman's sixth location in Massachusetts. It is scheduled to open a store in Medford, Mass., at the beginning of November.