According to an article on ChicagoRealEstateDaily.com, Wal-Mart Stores Inc. has found a site for its first small-box store in Chicago, with a deal to lease about 30,000 square feet in a three-level retail center in the Lakeview neighborhood.
The article reports that Wal-Mart has signed a letter of intent to lease space in a retail building known as Broadway at Surf, at 2840 N. Broadway. The building is 12 years old and currently houses a T. J. Maxx, a Bed Bath & Beyond and a Cost plus World Market.
The North Side store, which would be a Neighborhood Market focusing on groceries, also would be Wal-Mart's first in an affluent neighborhood in the city. It also would be among the several dozen outlets Wal-Mart has said it plans to open in Chicago over the next five years after emerging from a bruising battle with local unions and Chicago aldermen over employee wages.
Read more: http://www.chicagorealestatedaily.com/article/20101209/CRED03/101209867/wal-mart-finds-site-for-first-north-side-store#ixzz17dgn8cWT
Thursday, December 9, 2010
Wednesday, December 8, 2010
Fortune Brands to Split into 3 Companies
Fortune Brands, a consumer products company based in Deerfield, Illinois, has announced today that it plans to split into three separate companies. Fortune Brands said it will focus on its spirits business which generates annual revenue of $2.5 billion and includes brands such as Jim Beam bourbon, Canadian Club and Maker's Mark.
The home and security business, which includes well-known brands such as Moen faucets, Master Locks and MasterBrand cabinets, will be spun off on a tax-free basis to shareholders.
The golf business, which features brands such as Titleist golf balls and FootJoy golf shoes and gloves, will be either spun off or sold.
The company said the plan is the result of its ongoing strategic review over the past four years and is expected to be completed within several months. The separation is subject to various conditions including regulatory approvals.
The home and security business, which includes well-known brands such as Moen faucets, Master Locks and MasterBrand cabinets, will be spun off on a tax-free basis to shareholders.
The golf business, which features brands such as Titleist golf balls and FootJoy golf shoes and gloves, will be either spun off or sold.
The company said the plan is the result of its ongoing strategic review over the past four years and is expected to be completed within several months. The separation is subject to various conditions including regulatory approvals.