Newspaper article The Florida Times Union

Morning Briefing

Newspaper article The Florida Times Union

Morning Briefing

Article excerpt

NORMANDY SQUARE SHOPPING CENTER SOLD

Goldstein Commercial Properties Inc. and Childers Commercial Properties Inc. have announced the sale of Normandy Square Shopping Center at Normandy Boulevard and Fouraker Road.

Goldstein represented the buyer, RIG Normandy Square LLC, which bought the property for $5 million from D.W. Clark. Childers represented the seller.

RIG is a Georgia-based investment group. The fully occupied 87,240-square-foot shopping center is anchored by Winn-Dixie, Eckerd and Family Dollar.

WINN-DIXIE FINDS SOME SUCCESS SELLING STORES

GLN Inc. of Checotah, Okla., has agreed to purchase five Winn-Dixie stores threatened with closure in Oklahoma, President Gary Nichols said this week.

The stores will be rebranded as part of GLN's Nichols Dollar Saver grocery chain, which already numbers eight stores across the state, Nichols said.

Nichols would not reveal the purchase price, nor his company's annual revenue or other financial details.

Jacksonville-based Winn-Dixie said in May it was giving up its grocery business in Oklahoma and Texas with an intent to cut all its 76 stores in those states by the end of June.

Brookshire Grocery Co. has agreed to buy 17 stores in northern Texas. And Kroger will purchase another seven stores in Texas. That deal is expected to close within 30 days, after a regulatory review. A sale price was not disclosed.

NATION

TYCO INQUIRY WIDENS, SALE MAY BE DELAYED

As investigations into Tyco International Ltd. expanded, executives tried to reassure Wall Street yesterday that the scandal enveloping its former chief executive would not affect its finances. That did little to stem the sell-off of its stock, now down 80 percent since the start of the year.

The company, battling persistent questions about its accounting, is under investigation for allegedly allowing improper payments to former CEO Dennis Kozlowski and possibly other executives. …

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