Having failed to secure Federal Trade Commission (FTC) approval, Rite Aid and Walgreens Boots Alliance have scuttled plans to merge. Instead, Walgreens will acquire 2,186 Rite Aid stores and three distribution centers for $5.175 billion in cash. Under this deal, … Continue reading →
DC’s Historic Preservation Review Board (HPRB) recently approved plans for the restoration and retrofitting of the Carnegie Library at Mount Vernon Square, according to The Architect’s Newspaper. Apple intends to share the 63,000sf neoclassical building with Events DC and
Continue reading →Built in 1981, the property at 2501 M Street NW is undergoing a conversion from a Class B office (with three floors of condos on top) to a 59-unit multi-family condominium building with retail on the ground level. PRP Real … Continue reading →
Under a new law, Utah restaurants can remove partitions, known as Zion curtains which hide bartenders preparing alcoholic drinks. These partitions, which are required to be solid, translucent, and permanent are typically made of frosted glass and are intended to … Continue reading →
Warren Buffett’s Berkshire Hathaway Inc. has invested $377 million for a 9.8 percent stake in Store Capital Corp., a net-lease REIT that focuses on service tenants such as day care centers, health clubs, restaurants and supermarkets. Less than a twenty … Continue reading →
New York-based Union Square Hospitality Group (USHG) has partnered with Property Group Partners, the developer of the new five-building, 2.2 million square feet, mixed-use Capitol Crossing to develop a dining concept as an anchor tenant, according to PR Newswire. The … Continue reading →
At 1,100 feet, the Wilshire Grand Center is the tallest building west of the Mississippi River and the 9th tallest building in the United States, according to The Skyscraper Center. Owned by Seoul-based Hanjin Group (which is also the holding … Continue reading →
Restaurants make up more than half of food spending today compared to about 25 percent in the 1950s, according to The Atlantic. Total locations in the fast-casual sector (chains such as Chipotle and Sweetgreen) grew by nine percent last year … Continue reading →
Nordstrom Inc.’s founding family is considering taking the luxury department store chain private. The Nordstrom family currently owns about 30 percent of the company’s shares and has a combined net worth of about $3.6 billion, according to the Toronto Star … Continue reading →
According to the Bureau of Labor Statistics, six percent of American workers (eight million people) are retail salespeople and cashiers. Between 2014 and 2024, cashier jobs are expected to grow by only two percent, slower than the seven percent average … Continue reading →