Westwood sells Pacific Plaza Shopping Center
Ontario, Calif. — Westwood Financial Corp. has sold Pacific Plaza Shopping Center located at in Ontario, Calif., for $7.4 million.
“This transaction is the latest in our firm’s overall plan to rebalance our portfolio, as the funds generated here will be reinvested in grocery-anchored properties in the Southeast,” said Westwood financial executive VP Joe Dykstra.
The 49,901-sq-.ft. shopping center, built in 1989, was sold to Baldwin Park LLC. It currently contains 22 suites and is 58% leased with tenants including 24 Hour Fitness (NAP), Taco Bell, Manila Bay Seafood, Pizza Hut, Frazee Industries, Bank of America and Vineyard of Hope.
GE Capital provides credit facility for Le Château
New York — GE Capital, Corporate Finance announced it is administrative agent for a $70 million asset-based credit facility for Le Château, a leading Canadian specialty retailer and apparel manufacturer. The loan will be used to refinance existing debt and support working capital needs.
Headquartered in Montreal, Le Château specializes in the design, development and production of contemporary fashion apparel, accessories and footwear. It has 239 stores in Canada as well ten stores under license in the Middle East. Through its vertically integrated operations, Le Château produces approximately 35% of its garments in its own production facilities in Canada.
“GE Capital understands that flexible structuring leads to effective capital solutions,” said Emilia Di Raddo, president and secretary of Le Château. “Their retail industry expertise and knowledge of our local markets are real differentiators.”
Albertsons LLC creates social and digital marketing team
BOISE, Idaho — Albertsons LLC is sharpening its focus on social media and digital marketing with the creation of a new social and digital marketing team that will be led by technology and social marketing expert Karl Meinhardt.
Meinhardt’s history in the technology side of grocery retail extends back to the first launch of Albertsons.com in 1998, where he was responsible for developing a first-ever Fortune 50 grocery e-commerce solution for Albertsons Inc. Meinhardt went on to found several startup companies in the foodservice and social gaming markets after leaving that role.
“As a founder of several start-up companies, Karl has a comprehensive understanding of information as a powerful source of service,” said Mike Massimino, Albertsons LLC’s VP center store. “Karl’s expertise of turning knowledge into a strategic advantage has assisted many organizations in their long term product and service goals, and his efforts to date with our social media endeavors have already established a firm foundation on which the rest of our social and digital marketing strategies will be built.”
The social and digital marketing team includes Jana Jeffery, digital community manager, with more than 18 years of experience as a marketing and technology professional for Fortune 100 companies and several emerging startups, and Elizabeth Perryman, digital content manager, who brings experience in public and media relations, having worked with companies throughout the Northwest. Combined, they bring 26 years of social, digital and marketing experience to the newly created team. They join Dan Mackay, director of web services, to form the company’s digital marketing team.
“Every company knows that they ‘should’ be using social channels to connect with customers, but only those with an acute understanding of their customer, and how to relate to and connect with those customers will be successful in engaging those customers in the social conversation,” Meinhardt said. “It’s an exciting segment of grocery retail marketing because the space is constantly evolving. Awareness, agility, and brand personality are the key factors of success in the ever-changing digital/social frontier. This team has the skill to deliver those and more.”
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